Allianz Asset Management GmbH Sells 37,298 Shares of Canadian National Railway Company (NYSE:CNI)

Key Points

• Allianz Asset Management reduced its stake in Canadian National Railway by 54.9%, holding 30,604 shares worth $2.98 million after selling 37,298 shares.
• Analysts have mixed ratings for Canadian National Railway, with a consensus rating of "Hold" and a price target of $118.36, following adjustments by firms like Bank of America and Citigroup.
• The company announced a quarterly dividend increase to $0.6507 per share, representing a 2.76% yield, boosted from the previous $0.62 dividend.

Allianz Asset Management GmbH reduced its stake in shares of Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 54.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 30,604 shares of the transportation company's stock after selling 37,298 shares during the quarter. Allianz Asset Management GmbH's holdings in Canadian National Railway were worth $2,978,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Shell Asset Management Co. boosted its stake in Canadian National Railway by 0.5% in the 4th quarter. Shell Asset Management Co. now owns 21,387 shares of the transportation company's stock worth $2,171,000 after purchasing an additional 100 shares during the period. Bruce G. Allen Investments LLC lifted its holdings in shares of Canadian National Railway by 44.2% in the first quarter. Bruce G. Allen Investments LLC now owns 346 shares of the transportation company's stock valued at $34,000 after purchasing an additional 106 shares in the last quarter. Voya Investment Management LLC boosted its position in shares of Canadian National Railway by 1.4% during the fourth quarter. Voya Investment Management LLC now owns 7,953 shares of the transportation company's stock worth $807,000 after buying an additional 112 shares during the period. Gradient Investments LLC grew its holdings in shares of Canadian National Railway by 2.1% during the first quarter. Gradient Investments LLC now owns 5,409 shares of the transportation company's stock worth $527,000 after buying an additional 112 shares in the last quarter. Finally, Diversified Trust Co raised its position in Canadian National Railway by 5.7% in the 1st quarter. Diversified Trust Co now owns 2,561 shares of the transportation company's stock valued at $250,000 after buying an additional 139 shares during the last quarter. 80.74% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on CNI. Argus raised Canadian National Railway to a "hold" rating in a research report on Friday, June 27th. Citigroup cut their price target on shares of Canadian National Railway from $124.00 to $123.00 and set a "buy" rating on the stock in a research report on Wednesday, July 9th. JPMorgan Chase & Co. reiterated a "neutral" rating on shares of Canadian National Railway in a report on Wednesday, July 23rd. Evercore ISI lowered Canadian National Railway from an "outperform" rating to an "in-line" rating and set a $105.00 price target on the stock. in a research report on Wednesday, July 23rd. Finally, National Bank Financial cut Canadian National Railway from an "outperform" rating to a "sector perform" rating in a research note on Wednesday, July 23rd. Two analysts have rated the stock with a sell rating, ten have given a hold rating, seven have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Canadian National Railway currently has a consensus rating of "Hold" and an average price target of $118.36.

Canadian National Railway Price Performance

Shares of NYSE CNI traded down $0.63 during trading hours on Friday, hitting $92.82. 2,049,316 shares of the stock were exchanged, compared to its average volume of 1,722,425. The company's fifty day simple moving average is $102.49 and its two-hundred day simple moving average is $101.25. The company has a market cap of $58.15 billion, a PE ratio of 17.85, a price-to-earnings-growth ratio of 2.08 and a beta of 0.94. Canadian National Railway Company has a 1-year low of $91.65 and a 1-year high of $121.12. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.58 and a current ratio of 0.82.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last posted its earnings results on Tuesday, July 22nd. The transportation company reported $1.35 EPS for the quarter, missing analysts' consensus estimates of $1.37 by ($0.02). The company had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $4.34 billion. Canadian National Railway had a return on equity of 21.71% and a net margin of 26.63%. The firm's revenue was down 1.3% compared to the same quarter last year. During the same period last year, the company posted $1.84 EPS. On average, sell-side analysts predict that Canadian National Railway Company will post 5.52 EPS for the current year.

Canadian National Railway Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 8th will be given a $0.6507 dividend. This is a boost from Canadian National Railway's previous quarterly dividend of $0.62. This represents a $2.60 annualized dividend and a yield of 2.8%. The ex-dividend date is Monday, September 8th. Canadian National Railway's dividend payout ratio is 49.81%.

Canadian National Railway Profile

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.