Canadian National Railway (NYSE:CNI) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. lowered its position in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 11.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,279,322 shares of the transportation company’s stock after selling 171,105 shares during the period. Russell Investments Group Ltd.’s holdings in Canadian National Railway were worth $161,362,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Motley Fool Wealth Management LLC increased its position in shares of Canadian National Railway by 19.3% in the fourth quarter. Motley Fool Wealth Management LLC now owns 91,541 shares of the transportation company’s stock valued at $11,497,000 after buying an additional 14,781 shares in the last quarter. K.J. Harrison & Partners Inc purchased a new stake in Canadian National Railway during the 4th quarter worth about $1,008,000. Callan Capital LLC purchased a new stake in Canadian National Railway during the 4th quarter worth about $217,000. Bryn Mawr Capital Management LLC increased its position in Canadian National Railway by 16.9% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 2,216 shares of the transportation company’s stock worth $278,000 after purchasing an additional 321 shares in the last quarter. Finally, Motley Fool Asset Management LLC increased its position in Canadian National Railway by 101.7% during the 4th quarter. Motley Fool Asset Management LLC now owns 128,234 shares of the transportation company’s stock worth $16,110,000 after purchasing an additional 64,657 shares in the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Canadian National Railway Stock Performance

NYSE:CNI traded up $0.45 during trading hours on Friday, reaching $125.23. 847,446 shares of the stock were exchanged, compared to its average volume of 1,025,080. The stock has a market capitalization of $79.98 billion, a P/E ratio of 19.97, a P/E/G ratio of 2.18 and a beta of 0.88. Canadian National Railway has a 52 week low of $103.96 and a 52 week high of $134.02. The company has a quick ratio of 0.47, a current ratio of 0.60 and a debt-to-equity ratio of 0.84. The firm has a 50 day simple moving average of $129.49 and a 200-day simple moving average of $122.34.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings results on Tuesday, January 23rd. The transportation company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.02. The business had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.25 billion. Canadian National Railway had a return on equity of 23.27% and a net margin of 32.81%. As a group, sell-side analysts forecast that Canadian National Railway will post 5.92 earnings per share for the current fiscal year.

Canadian National Railway Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be issued a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend is Friday, June 7th. Canadian National Railway’s dividend payout ratio (DPR) is 40.03%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. CIBC cut Canadian National Railway from a “sector outperform” rating to a “neutral” rating in a research report on Wednesday, January 10th. Barclays lifted their price objective on Canadian National Railway from $127.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 4th. Citigroup raised their price target on Canadian National Railway from $121.00 to $128.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 24th. Wells Fargo & Company raised their price target on Canadian National Railway from $110.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 24th. Finally, Bank of America raised Canadian National Railway from a “neutral” rating to a “buy” rating and raised their price target for the stock from $140.00 to $145.00 in a research note on Wednesday, April 10th. Eighteen equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $149.05.

About Canadian National Railway

Canadian National Railway Company, together with its subsidiaries, engages in the rail, intermodal, trucking, and marine transportation and logistics business in Canada and the United States. The company provides rail services, which include equipment, custom brokerage services, transloading and distribution, business development and real estate, and private car storage services; and intermodal services, such as temperature controlled cargo, port partnerships, and logistics parks.