Canadian National Railway (NYSE:CNI) Shares Sold by abrdn plc

abrdn plc decreased its holdings in shares of Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR by 46.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,300 shares of the transportation company's stock after selling 16,596 shares during the quarter. abrdn plc's holdings in Canadian National Railway were worth $2,425,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of CNI. Artisan Partners Limited Partnership bought a new position in shares of Canadian National Railway during the 3rd quarter valued at approximately $273,243,000. Morgan Stanley increased its position in Canadian National Railway by 53.2% during the third quarter. Morgan Stanley now owns 2,879,091 shares of the transportation company's stock valued at $311,892,000 after acquiring an additional 1,000,244 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its stake in shares of Canadian National Railway by 5.0% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 13,067,300 shares of the transportation company's stock valued at $1,421,649,000 after acquiring an additional 625,500 shares during the period. Quadrature Capital Ltd lifted its holdings in shares of Canadian National Railway by 98.9% in the 3rd quarter. Quadrature Capital Ltd now owns 1,229,900 shares of the transportation company's stock worth $134,136,000 after acquiring an additional 611,400 shares during the last quarter. Finally, Deutsche Bank AG lifted its holdings in shares of Canadian National Railway by 7.3% in the 3rd quarter. Deutsche Bank AG now owns 5,575,661 shares of the transportation company's stock worth $604,011,000 after acquiring an additional 378,513 shares during the last quarter. Institutional investors own 80.74% of the company's stock.

Canadian National Railway Stock Down 0.9 %

Shares of CNI traded down $1.18 during mid-day trading on Monday, hitting $124.05. The company's stock had a trading volume of 828,747 shares, compared to its average volume of 1,020,118. The company has a current ratio of 0.60, a quick ratio of 0.46 and a debt-to-equity ratio of 0.84. The company's 50-day moving average is $129.37 and its 200-day moving average is $122.64. Canadian National Railway has a 52-week low of $103.96 and a 52-week high of $134.02. The firm has a market capitalization of $79.23 billion, a price-to-earnings ratio of 19.78, a PEG ratio of 2.19 and a beta of 0.88.

Canadian National Railway Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be issued a dividend of $0.625 per share. The ex-dividend date is Friday, June 7th. This represents a $2.50 dividend on an annualized basis and a yield of 2.02%. Canadian National Railway's dividend payout ratio is currently 40.03%.

Analyst Ratings Changes

A number of research firms recently weighed in on CNI. TD Securities lowered shares of Canadian National Railway from a "buy" rating to a "hold" rating in a research report on Monday, January 8th. Stephens reiterated an "equal weight" rating and issued a $140.00 price target on shares of Canadian National Railway in a report on Wednesday, April 24th. Barclays raised their price target on Canadian National Railway from $127.00 to $130.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 4th. Benchmark reaffirmed a "hold" rating on shares of Canadian National Railway in a research report on Wednesday, April 24th. Finally, Bank of America upgraded Canadian National Railway from a "neutral" rating to a "buy" rating and increased their target price for the stock from $140.00 to $145.00 in a research note on Wednesday, April 10th. Eighteen equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $149.05.

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.