Page Arthur B trimmed its holdings in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 3.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 43,465 shares of the transportation company’s stock after selling 1,416 shares during the period. Canadian National Railway comprises about 3.1% of Page Arthur B’s portfolio, making the stock its 12th largest holding. Page Arthur B’s holdings in Canadian National Railway were worth $3,586,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Hall Laurie J Trustee raised its stake in shares of Canadian National Railway by 4.1% during the second quarter. Hall Laurie J Trustee now owns 1,275 shares of the transportation company’s stock valued at $103,000 after acquiring an additional 50 shares during the last quarter. Goodman Financial Corp bought a new position in shares of Canadian National Railway during the fourth quarter valued at about $165,000. Security National Bank of SO Dak bought a new position in shares of Canadian National Railway during the third quarter valued at about $203,000. Dean Capital Investments Management LLC bought a new position in shares of Canadian National Railway during the fourth quarter valued at about $205,000. Finally, Sowell Financial Services LLC bought a new position in shares of Canadian National Railway during the third quarter valued at about $200,000. Institutional investors and hedge funds own 53.66% of the company’s stock.
Several equities analysts have recently commented on CNI shares. Zacks Investment Research raised shares of Canadian National Railway from a “sell” rating to a “hold” rating in a research note on Monday, November 6th. Raymond James Financial downgraded shares of Canadian National Railway from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 25th. Cowen reaffirmed an “outperform” rating and set a $90.00 price objective (up from $88.00) on shares of Canadian National Railway in a research note on Wednesday, January 24th. Desjardins raised shares of Canadian National Railway from a “hold” rating to a “buy” rating in a research note on Wednesday, October 25th. Finally, Deutsche Bank began coverage on shares of Canadian National Railway in a research note on Wednesday, November 1st. They issued a “sell” rating and a $73.00 price target for the company. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $81.38.
Canadian National Railway (CNI) opened at $78.46 on Monday. Canadian National Railway has a one year low of $68.27 and a one year high of $85.73. The stock has a market cap of $58,115.32, a PE ratio of 13.91, a P/E/G ratio of 1.96 and a beta of 1.00. The company has a quick ratio of 0.44, a current ratio of 0.55 and a debt-to-equity ratio of 0.53.
Canadian National Railway declared that its board has initiated a share buyback program on Tuesday, October 24th that authorizes the company to repurchase 31,000,000 shares. This repurchase authorization authorizes the transportation company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Thursday, March 8th will be paid a $0.3665 dividend. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.33. This represents a $1.47 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend is Wednesday, March 7th. Canadian National Railway’s dividend payout ratio is presently 23.23%.
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Canadian National Railway Profile
Canadian National Railway Company is engaged in the rail and related transportation business. The Company’s network of approximately 20,000 route miles of track spans Canada and mid-America, connecting approximately three coasts, including the Atlantic, the Pacific and the Gulf of Mexico and serving the cities and ports of Vancouver, Prince Rupert (British Columbia), Montreal, Halifax, New Orleans, and Mobile (Alabama), and the metropolitan areas of Toronto, Edmonton, Winnipeg, Calgary, Chicago, Memphis, Detroit, Duluth (Minnesota)/Superior (Wisconsin), and Jackson (Mississippi), with connections to all points in North America.
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