Canadian National Railway Company $CNI Shares Sold by Voya Investment Management LLC

Key Points

• Voya Investment Management LLC has reduced its stake in Canadian National Railway by 53.8%, holding 3,672 shares worth approximately $357,000 at the end of the first quarter.
• Several institutional investors, including Manufacturers Life Insurance Company and Goldman Sachs Group Inc., have increased their investments in Canadian National Railway during the same period.
• Canadian National Railway has announced an increase in its quarterly dividend to $0.6507, which represents an annualized yield of 2.8%, with payments set for September 29th.

Voya Investment Management LLC reduced its position in shares of Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 53.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,672 shares of the transportation company's stock after selling 4,281 shares during the period. Voya Investment Management LLC's holdings in Canadian National Railway were worth $357,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of CNI. The Manufacturers Life Insurance Company grew its holdings in Canadian National Railway by 37.3% during the 1st quarter. The Manufacturers Life Insurance Company now owns 5,296,701 shares of the transportation company's stock worth $518,260,000 after acquiring an additional 1,439,617 shares in the last quarter. Nuveen LLC bought a new stake in Canadian National Railway in the 1st quarter valued at $112,216,000. Price T Rowe Associates Inc. MD lifted its position in Canadian National Railway by 20.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,638,443 shares of the transportation company's stock worth $646,983,000 after buying an additional 1,148,569 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Canadian National Railway by 39.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,664,618 shares of the transportation company's stock valued at $259,694,000 after acquiring an additional 755,518 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its stake in shares of Canadian National Railway by 34.8% during the 1st quarter. Canada Pension Plan Investment Board now owns 2,858,739 shares of the transportation company's stock worth $278,242,000 after acquiring an additional 737,879 shares in the last quarter. Hedge funds and other institutional investors own 80.74% of the company's stock.

Canadian National Railway Price Performance

Shares of CNI stock opened at $92.84 on Friday. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.82 and a quick ratio of 0.58. The firm has a fifty day moving average of $94.64 and a two-hundred day moving average of $99.12. The firm has a market cap of $57.64 billion, a P/E ratio of 17.85, a P/E/G ratio of 2.14 and a beta of 0.94. Canadian National Railway Company has a 1-year low of $91.07 and a 1-year high of $118.14.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last announced its quarterly earnings data on Tuesday, July 22nd. The transportation company reported $1.35 EPS for the quarter, missing analysts' consensus estimates of $1.37 by ($0.02). Canadian National Railway had a net margin of 26.63% and a return on equity of 21.71%. The company had revenue of $3.14 billion for the quarter, compared to analysts' expectations of $4.34 billion. During the same period in the previous year, the firm posted $1.84 earnings per share. The business's revenue for the quarter was down 1.3% on a year-over-year basis. As a group, research analysts anticipate that Canadian National Railway Company will post 5.52 earnings per share for the current fiscal year.

Canadian National Railway Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 8th will be given a $0.6507 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Monday, September 8th. This is an increase from Canadian National Railway's previous quarterly dividend of $0.62. Canadian National Railway's payout ratio is currently 50.19%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CNI. Royal Bank Of Canada decreased their target price on Canadian National Railway from $161.00 to $157.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 23rd. Citigroup lowered their target price on Canadian National Railway from $124.00 to $123.00 and set a "buy" rating for the company in a research note on Wednesday, July 9th. Susquehanna dropped their price objective on Canadian National Railway from $120.00 to $115.00 and set a "positive" rating for the company in a research note on Thursday. JPMorgan Chase & Co. reissued a "neutral" rating on shares of Canadian National Railway in a research note on Wednesday, July 23rd. Finally, Argus upgraded Canadian National Railway to a "hold" rating in a research report on Friday, June 27th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $117.94.

Canadian National Railway Company 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.

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