USS Investment Management Ltd Decreases Stock Position in Canadian National Railway Company $CNI

Key Points

• USS Investment Management Ltd reduced its stake in Canadian National Railway Company by 32.3%, selling 47,600 shares during the first quarter, which left them with a total of 99,638 shares, valued at approximately $9.72 million.
• Other institutional investors have shown significant activity, with Polar Asset Management Partners increasing their stake by 60% and Interval Partners LP investing approximately $29.78 million in Canadian National Railway.
• Canadian National Railway recently announced an increase in its quarterly dividend to $0.6507 per share, reflecting a 2.7% dividend yield, up from the previous $0.62 dividend.

USS Investment Management Ltd reduced its stake in shares of Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 32.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 99,638 shares of the transportation company's stock after selling 47,600 shares during the quarter. USS Investment Management Ltd's holdings in Canadian National Railway were worth $9,721,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Royal Bank of Canada grew its stake in shares of Canadian National Railway by 7.5% during the fourth quarter. Royal Bank of Canada now owns 27,757,038 shares of the transportation company's stock valued at $2,817,616,000 after buying an additional 1,934,622 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Canadian National Railway by 0.8% during the first quarter. Vanguard Group Inc. now owns 23,165,939 shares of the transportation company's stock valued at $2,254,370,000 after buying an additional 179,261 shares during the last quarter. TD Asset Management Inc boosted its holdings in shares of Canadian National Railway by 0.3% during the first quarter. TD Asset Management Inc now owns 11,798,566 shares of the transportation company's stock worth $1,148,008,000 after purchasing an additional 30,066 shares during the period. 1832 Asset Management L.P. boosted its holdings in shares of Canadian National Railway by 6.0% during the first quarter. 1832 Asset Management L.P. now owns 11,243,512 shares of the transportation company's stock worth $1,095,793,000 after purchasing an additional 636,147 shares during the period. Finally, JARISLOWSKY FRASER Ltd boosted its holdings in shares of Canadian National Railway by 4.8% during the fourth quarter. JARISLOWSKY FRASER Ltd now owns 9,159,075 shares of the transportation company's stock worth $926,573,000 after purchasing an additional 422,078 shares during the period. 80.74% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on CNI. Bank of America increased their price objective on Canadian National Railway from $105.00 to $115.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Evercore ISI cut Canadian National Railway from an "outperform" rating to an "in-line" rating and set a $105.00 price objective for the company. in a report on Wednesday, July 23rd. Barclays dropped their price objective on Canadian National Railway from $106.00 to $99.00 and set an "equal weight" rating for the company in a report on Wednesday, July 23rd. Royal Bank Of Canada dropped their price objective on Canadian National Railway from $161.00 to $157.00 and set an "outperform" rating for the company in a report on Wednesday, July 23rd. Finally, Wall Street Zen upgraded Canadian National Railway from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Two equities research 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, Canadian National Railway currently has a consensus rating of "Hold" and an average price target of $118.36.

Canadian National Railway Stock Down 0.1%

Shares of CNI stock traded down $0.11 during trading hours on Friday, hitting $93.82. 717,026 shares of the company's stock traded hands, compared to its average volume of 1,532,585. Canadian National Railway Company has a 12-month low of $91.07 and a 12-month high of $121.12. The company has a quick ratio of 0.58, a current ratio of 0.82 and a debt-to-equity ratio of 0.90. The stock has a market cap of $58.57 billion, a price-to-earnings ratio of 18.03, a PEG ratio of 2.12 and a beta of 0.94. The stock's fifty day simple moving average is $96.93 and its two-hundred day simple moving average is $99.57.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last posted its quarterly earnings data on Tuesday, July 22nd. The transportation company reported $1.35 earnings per share 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 the consensus estimate of $4.34 billion. During the same period last year, the business earned $1.84 EPS. The firm's quarterly revenue was down 1.3% on a year-over-year basis. On average, analysts expect that Canadian National Railway Company will post 5.52 EPS for the current year.

Canadian National Railway Increases Dividend

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

About Canadian National Railway

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.