Mufg Securities Canada LTD. Sells 85,317 Shares of Canadian National Railway Company $CNI

Key Points

• Mufg Securities Canada LTD. reduced its stake in Canadian National Railway by 9.3% in the fourth quarter, selling 85,317 shares and ending with 834,086 shares worth about $82.5 million.
• Canadian National Railway posted mixed but solid quarterly results, matching EPS and revenue estimates at $1.31 and $3.15 billion, while analysts expect full-year EPS of 5.76.
• The company continues to return cash to shareholders with a quarterly dividend of $0.915 per share, implying a 3.1% annualized yield, while analysts currently rate the stock a consensus “Hold” with an average price target of $122.04.

Mufg Securities Canada LTD. decreased its holdings in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 9.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 834,086 shares of the transportation company's stock after selling 85,317 shares during the quarter. Canadian National Railway makes up about 2.3% of Mufg Securities Canada LTD.'s investment portfolio, making the stock its 15th largest position. Mufg Securities Canada LTD. owned approximately 0.14% of Canadian National Railway worth $82,512,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of CNI. Lazard Asset Management LLC raised its position in Canadian National Railway by 639,137.0% in the 3rd quarter. Lazard Asset Management LLC now owns 8,955,711 shares of the transportation company's stock valued at $844,353,000 after purchasing an additional 8,954,310 shares during the last quarter. Norges Bank bought a new position in Canadian National Railway in the 4th quarter valued at $570,161,000. Troy Asset Management Ltd raised its position in Canadian National Railway by 158.8% in the 3rd quarter. Troy Asset Management Ltd now owns 2,738,372 shares of the transportation company's stock valued at $258,220,000 after purchasing an additional 1,680,223 shares during the last quarter. Quadrature Capital Ltd raised its position in Canadian National Railway by 1,693.5% in the 3rd quarter. Quadrature Capital Ltd now owns 1,739,700 shares of the transportation company's stock valued at $164,043,000 after purchasing an additional 1,642,700 shares during the last quarter. Finally, Deutsche Bank AG raised its position in 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 purchasing an additional 1,182,106 shares during the last quarter. Institutional investors own 80.74% of the company's stock.

Canadian National Railway Stock Up 0.0%

Shares of Canadian National Railway stock opened at $119.02 on Monday. The company has a quick ratio of 0.49, a current ratio of 0.67 and a debt-to-equity ratio of 0.95. Canadian National Railway Company has a 12 month low of $90.74 and a 12 month high of $122.48. The business has a fifty day simple moving average of $113.32 and a 200 day simple moving average of $105.64. The stock has a market cap of $72.21 billion, a PE ratio of 21.64, a price-to-earnings-growth ratio of 2.28 and a beta of 0.96.

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

Canadian National Railway Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th will be paid a $0.915 dividend. This represents a $3.66 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Tuesday, June 9th. Canadian National Railway's payout ratio is presently 48.55%.

Analysts Set New Price Targets

Several brokerages have issued reports on CNI. Canadian Imperial Bank of Commerce lifted their price objective on Canadian National Railway from C$164.00 to C$182.00 and gave the company an "outperformer" rating in a research report on Tuesday, June 9th. Royal Bank Of Canada lifted their price objective on Canadian National Railway from $160.00 to $178.00 and gave the company an "outperform" rating in a research report on Thursday, April 30th. Bank of America upgraded Canadian National Railway from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $117.00 to $122.00 in a research report on Thursday, April 9th. Weiss Ratings downgraded Canadian National Railway from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, June 4th. Finally, Citigroup boosted 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. Nine equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $122.04.

Canadian National Railway 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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