Man Group plc Sells 54,894 Shares of Canadian National Railway (NYSE:CNI)

Man Group plc reduced its position in Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR by 44.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 69,899 shares of the transportation company's stock after selling 54,894 shares during the period. Man Group plc's holdings in Canadian National Railway were worth $7,095,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the company. Voya Investment Management LLC raised its holdings in Canadian National Railway by 1.4% in the 4th quarter. Voya Investment Management LLC now owns 7,953 shares of the transportation company's stock worth $807,000 after acquiring an additional 112 shares during the last quarter. Crestwood Advisors Group LLC raised its holdings in Canadian National Railway by 4.2% in the 4th quarter. Crestwood Advisors Group LLC now owns 2,814 shares of the transportation company's stock worth $286,000 after acquiring an additional 114 shares during the last quarter. Lowe Brockenbrough & Co. Inc. raised its holdings in Canadian National Railway by 1.2% in the 4th quarter. Lowe Brockenbrough & Co. Inc. now owns 11,492 shares of the transportation company's stock worth $1,167,000 after acquiring an additional 139 shares during the last quarter. Addison Advisors LLC raised its holdings in Canadian National Railway by 80.2% in the 4th quarter. Addison Advisors LLC now owns 319 shares of the transportation company's stock worth $32,000 after acquiring an additional 142 shares during the last quarter. Finally, Harbour Investments Inc. raised its holdings in Canadian National Railway by 5.0% in the 4th quarter. Harbour Investments Inc. now owns 3,302 shares of the transportation company's stock worth $335,000 after acquiring an additional 156 shares during the last quarter. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Canadian National Railway Price Performance

CNI stock traded up $0.07 during midday trading on Thursday, hitting $106.17. The company's stock had a trading volume of 1,175,854 shares, compared to its average volume of 1,310,663. Canadian National Railway has a 12 month low of $91.65 and a 12 month high of $128.19. The company has a quick ratio of 0.48, a current ratio of 0.66 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $66.73 billion, a price-to-earnings ratio of 20.74, a price-to-earnings-growth ratio of 1.95 and a beta of 0.97. The company has a 50 day moving average of $99.40 and a two-hundred day moving average of $102.53.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last posted its quarterly earnings results on Thursday, May 1st. The transportation company reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.03. Canadian National Railway had a return on equity of 22.48% and a net margin of 26.09%. The business had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $4.38 billion. During the same period in the prior year, the company posted $1.72 EPS. The firm's revenue for the quarter was up 3.6% compared to the same quarter last year. On average, analysts expect that Canadian National Railway will post 5.52 EPS for the current year.

Analyst Upgrades and Downgrades

CNI has been the subject of a number of research reports. Barclays decreased their target price on shares of Canadian National Railway from $104.00 to $101.00 and set an "equal weight" rating for the company in a research note on Friday, May 2nd. Stephens boosted their target price on shares of Canadian National Railway from $105.00 to $109.00 and gave the company an "equal weight" rating in a research note on Friday, May 2nd. Citigroup decreased their target price on shares of Canadian National Railway from $122.00 to $114.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Evercore ISI decreased their target price on shares of Canadian National Railway from $119.00 to $114.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Finally, Wall Street Zen lowered shares of Canadian National Railway from a "hold" rating to a "sell" rating in a research note on Thursday. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $119.52.

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.