Immersion Capital LLP Lowers Stock Position in Canadian National Railway Company $CNI

Key Points

• Immersion Capital LLP cut its stake in Canadian National Railway by 28% in the fourth quarter, selling 15,000 shares and leaving it with 38,634 shares valued at about $3.82 million.
• Several large institutional investors increased their positions, including Vanguard, FIL Ltd, and Deutsche Bank, and institutions now own 80.74% of the company’s stock.
• Canadian National Railway reported quarterly EPS of $1.31, in line with estimates, and announced a $0.915 quarterly dividend, implying a 3.2% annual yield.

Immersion Capital LLP decreased its holdings in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 28.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 38,634 shares of the transportation company's stock after selling 15,000 shares during the quarter. Canadian National Railway accounts for approximately 5.5% of Immersion Capital LLP's holdings, making the stock its 7th biggest holding. Immersion Capital LLP's holdings in Canadian National Railway were worth $3,819,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of Canadian National Railway by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 24,646,922 shares of the transportation company's stock valued at $2,437,679,000 after buying an additional 346,670 shares in the last quarter. FIL Ltd raised its stake in shares of Canadian National Railway by 49.5% in the 4th quarter. FIL Ltd now owns 15,745,744 shares of the transportation company's stock valued at $1,557,309,000 after buying an additional 5,210,403 shares in the last quarter. Bank of Montreal Can raised its stake in shares of Canadian National Railway by 0.3% in the 3rd quarter. Bank of Montreal Can now owns 14,201,675 shares of the transportation company's stock valued at $1,338,948,000 after buying an additional 42,907 shares in the last quarter. Caisse de depot et placement du Quebec raised its stake in shares of Canadian National Railway by 1.1% in the 3rd quarter. Caisse de depot et placement du Quebec now owns 13,894,922 shares of the transportation company's stock valued at $1,310,600,000 after buying an additional 157,000 shares in the last quarter. Finally, Deutsche Bank AG raised its stake in shares of Canadian National Railway by 15.1% in the 4th quarter. Deutsche Bank AG now owns 8,998,101 shares of the transportation company's stock valued at $889,462,000 after buying an additional 1,182,106 shares in the last quarter. Institutional investors and hedge funds own 80.74% of the company's stock.

Analyst Upgrades and Downgrades

CNI has been the subject of several analyst reports. Weiss Ratings downgraded Canadian National Railway from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, June 4th. Royal Bank Of Canada raised their target price on Canadian National Railway from $160.00 to $178.00 and gave the stock an "outperform" rating in a research report on Thursday, April 30th. Barclays raised their target price on Canadian National Railway from $98.00 to $99.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 30th. Citigroup raised their target price on Canadian National Railway from $123.00 to $124.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Finally, Sanford C. Bernstein raised their target price on Canadian National Railway from $113.88 to $117.36 and gave the stock a "market perform" rating in a research report on Tuesday, March 31st. Nine equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $122.04.

Canadian National Railway Trading Down 3.2%

Shares of CNI opened at $113.92 on Thursday. The stock has a fifty day moving average price of $114.03 and a two-hundred day moving average price of $106.12. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.49 and a current ratio of 0.67. Canadian National Railway Company has a 52-week low of $90.74 and a 52-week high of $122.48. The company has a market cap of $69.11 billion, a price-to-earnings ratio of 20.71, a PEG ratio of 2.25 and a beta of 0.96.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last issued its quarterly earnings data on Wednesday, April 29th. The transportation company reported $1.31 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.31. Canadian National Railway had a return on equity of 21.90% and a net margin of 27.22%.The firm had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter in the previous year, the company posted $1.85 EPS. The business's revenue for the quarter was down .5% compared to the same quarter last year. Analysts predict that Canadian National Railway Company will post 5.76 EPS for the current fiscal year.

Canadian National Railway Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th will be given a $0.915 dividend. The ex-dividend date is Tuesday, June 9th. This represents a $3.66 annualized dividend and a yield of 3.2%. Canadian National Railway's payout ratio is presently 48.55%.

Canadian National Railway Company Profile

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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