Korea Investment CORP Sells 14,172 Shares of Canadian National Railway Company $CNI

Key Points

• Korea Investment CORP has reduced its stake in Canadian National Railway by 4.0%, following the sale of 14,172 shares in the first quarter, bringing its ownership to 342,873 shares valued at approximately $33.36 million.
• Institutional investors hold a significant portion of Canadian National Railway's stock, with 80.74% ownership, while other firms such as Royal Bank of Canada and Vanguard Group have increased their stakes significantly.
• Canadian National Railway announced a quarterly dividend increase to $0.6507 per share, reflecting a 2.8% yield, and highlighted a payout ratio of 49.81%.

Korea Investment CORP trimmed its holdings in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 4.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 342,873 shares of the transportation company's stock after selling 14,172 shares during the quarter. Korea Investment CORP owned about 0.05% of Canadian National Railway worth $33,362,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in CNI. Royal Bank of Canada lifted its stake in shares of Canadian National Railway by 7.5% in the 4th quarter. Royal Bank of Canada now owns 27,757,038 shares of the transportation company's stock valued at $2,817,616,000 after purchasing an additional 1,934,622 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Canadian National Railway by 33.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,489,874 shares of the transportation company's stock worth $557,278,000 after buying an additional 1,380,554 shares during the period. Nuveen LLC acquired a new position in Canadian National Railway during the 1st quarter worth approximately $112,216,000. BLI Banque de Luxembourg Investments acquired a new position in Canadian National Railway during the 4th quarter worth approximately $70,283,000. Finally, Value Partners Investments Inc. raised its stake in Canadian National Railway by 1,101.9% during the 1st quarter. Value Partners Investments Inc. now owns 553,290 shares of the transportation company's stock worth $53,897,000 after buying an additional 507,254 shares during the period. 80.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on CNI shares. Argus raised Canadian National Railway to a "hold" rating in a research note on Friday, June 27th. Barclays dropped their price target on Canadian National Railway from $106.00 to $99.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 23rd. Evercore ISI downgraded 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 note on Wednesday, July 23rd. Raymond James Financial raised Canadian National Railway from a "market perform" rating to an "outperform" rating in a report on Thursday, July 17th. Finally, National Bank Financial lowered Canadian National Railway from an "outperform" rating to a "sector perform" rating in a report on Wednesday, July 23rd. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $118.36.

Canadian National Railway Stock Performance

Shares of CNI stock traded up $1.8350 during trading on Friday, hitting $95.8650. The company's stock had a trading volume of 2,047,408 shares, compared to its average volume of 1,688,668. The company has a market cap of $59.85 billion, a PE ratio of 18.44, a P/E/G ratio of 2.09 and a beta of 0.94. The company has a current ratio of 0.82, a quick ratio of 0.58 and a debt-to-equity ratio of 0.90. The business has a fifty day moving average of $99.08 and a 200-day moving average of $100.23. Canadian National Railway Company has a 52 week low of $91.65 and a 52 week high of $121.12.

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

Canadian National Railway Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 8th will be issued a dividend of $0.6507 per share. This represents a $2.60 annualized dividend and a yield of 2.7%. This is a positive change from Canadian National Railway's previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Monday, September 8th. Canadian National Railway's dividend payout ratio is currently 50.19%.

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.