Canadian National Railway Company $CNI Shares Sold by Swiss National Bank

Key Points

• Swiss National Bank trimmed its stake in Canadian National by 5.5%, selling 88,800 shares to hold 1,534,600 shares (about 0.25% of the company) worth roughly $144.8 million at quarter-end.
• Other large institutions were active: Norges Bank initiated a ~ $592 million position, Fisher Asset Management added ~ $190 million, and Troy Asset Management more than doubled its stake, leaving institutional investors with about 80.74% ownership.
• Canadian National raised its quarterly dividend to $0.915 (annualized $3.66, ~3.4% yield); the company posted EPS of $1.49 that beat estimates while revenue missed, and analysts hold a consensus "Moderate Buy" with a $118.91 price target.

Swiss National Bank lowered its stake in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 5.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,534,600 shares of the transportation company's stock after selling 88,800 shares during the quarter. Swiss National Bank owned about 0.25% of Canadian National Railway worth $144,778,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Norges Bank purchased a new stake in shares of Canadian National Railway in the 2nd quarter valued at approximately $591,904,000. Fisher Asset Management LLC acquired a new position in shares of Canadian National Railway in the 2nd quarter worth approximately $189,748,000. Troy Asset Management Ltd boosted its position in shares of Canadian National Railway by 158.8% during the 3rd quarter. Troy Asset Management Ltd now owns 2,738,372 shares of the transportation company's stock worth $258,220,000 after purchasing an additional 1,680,223 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Canadian National Railway by 26.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,705,679 shares of the transportation company's stock worth $695,048,000 after purchasing an additional 1,408,978 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Canadian National Railway by 20.1% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 6,296,828 shares of the transportation company's stock valued at $655,768,000 after purchasing an additional 1,051,977 shares during the last quarter. Hedge funds and other institutional investors own 80.74% of the company's stock.

Canadian National Railway Price Performance

Canadian National Railway stock opened at $108.04 on Tuesday. The firm has a market cap of $66.24 billion, a PE ratio of 19.90, a price-to-earnings-growth ratio of 2.22 and a beta of 0.90. Canadian National Railway Company has a 52-week low of $90.74 and a 52-week high of $113.08. The company has a quick ratio of 0.47, a current ratio of 0.67 and a debt-to-equity ratio of 0.94. The company's 50 day moving average is $103.16 and its two-hundred day moving average is $98.29.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last posted its quarterly earnings results on Friday, January 30th. The transportation company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.43 by $0.06. Canadian National Railway had a net margin of 27.28% and a return on equity of 22.14%. The business had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $4.43 billion. During the same quarter in the previous year, the firm posted $1.82 earnings per share. The company's quarterly revenue was up 2.4% compared to the same quarter last year. On average, research analysts expect that Canadian National Railway Company will post 5.52 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 10th will be issued a $0.915 dividend. This represents a $3.66 dividend on an annualized basis and a yield of 3.4%. This is a boost from Canadian National Railway's previous quarterly dividend of $0.89. The ex-dividend date is Tuesday, March 10th. Canadian National Railway's dividend payout ratio (DPR) is 46.59%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on CNI shares. Vertical Research raised Canadian National Railway from a "hold" rating to a "buy" rating in a research report on Monday, January 5th. Citigroup lowered their price target on Canadian National Railway from $119.00 to $115.00 and set a "buy" rating for the company in a research report on Monday, February 2nd. Royal Bank Of Canada dropped their price objective on Canadian National Railway from $153.00 to $151.00 and set an "outperform" rating for the company in a research note on Monday, February 2nd. BMO Capital Markets reiterated an "outperform" rating on shares of Canadian National Railway in a report on Monday, February 2nd. Finally, UBS Group lowered Canadian National Railway from a "strong-buy" rating to a "hold" rating in a research note on Monday, February 2nd. Ten research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat, Canadian National Railway has an average rating of "Moderate Buy" and a consensus price target of $118.91.

About Canadian National Railway

Canadian National Railway Company NYSE: CNI is a Class I freight railway that operates an integrated rail network across Canada and the United States. Headquartered in Montreal, Quebec, CN provides long-haul freight transportation and related logistics services that connect major ports, industrial centers and inland markets throughout North America. Its transcontinental system enables cross-border movement of goods and supports supply chains that span coast-to-coast in Canada and into the central and eastern United States.

CN's core business is the railborne transportation of a broad mix of commodities, including intermodal container traffic, forest and paper products, grain and other agricultural products, metallurgical and industrial products, petroleum and chemical products, coal and automotive shipments.

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