Immersion Capital LLP lowered its position in shares of Canadian National Railway Company (NYSE:CNI – Free Report) (TSE:CNR) by 28.0% in the fourth quarter, HoldingsChannel reports. The fund owned 38,634 shares of the transportation company’s stock after selling 15,000 shares during the period. Canadian National Railway accounts for approximately 5.5% of Immersion Capital LLP’s investment portfolio, making the stock its 7th largest holding. Immersion Capital LLP’s holdings in Canadian National Railway were worth $3,819,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Inspire Investing LLC raised its position in shares of Canadian National Railway by 4.5% during the fourth quarter. Inspire Investing LLC now owns 24,827 shares of the transportation company’s stock worth $2,455,000 after acquiring an additional 1,079 shares during the last quarter. Investment Management Corp of Ontario raised its position in shares of Canadian National Railway by 225.4% during the fourth quarter. Investment Management Corp of Ontario now owns 67,126 shares of the transportation company’s stock worth $6,635,000 after acquiring an additional 46,496 shares during the last quarter. Engineers Gate Manager LP bought a new stake in shares of Canadian National Railway during the fourth quarter worth $304,000. Balyasny Asset Management L.P. raised its position in shares of Canadian National Railway by 7,521.2% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,143,186 shares of the transportation company’s stock worth $113,004,000 after acquiring an additional 1,128,186 shares during the last quarter. Finally, Align Financial LLC bought a new stake in shares of Canadian National Railway during the fourth quarter worth $2,610,000. Institutional investors own 80.74% of the company’s stock.
Canadian National Railway Price Performance
Shares of CNI opened at $113.92 on Thursday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.49 and a current ratio of 0.67. The stock has a 50 day simple moving average of $114.03 and a 200 day simple moving average of $106.12. Canadian National Railway Company has a 52-week low of $90.74 and a 52-week high of $122.48. The firm has a market capitalization of $69.11 billion, a PE ratio of 20.71, a P/E/G ratio of 2.25 and a beta of 0.96.
Canadian National Railway Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th will be given a $0.915 dividend. The ex-dividend date is Tuesday, June 9th. This represents a $3.66 annualized dividend and a dividend yield of 3.2%. Canadian National Railway’s payout ratio is currently 48.55%.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on CNI. Royal Bank Of Canada boosted their target price on Canadian National Railway from $160.00 to $178.00 and gave the stock an “outperform” rating in a research report on Thursday, April 30th. Bank of America raised Canadian National Railway from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $117.00 to $122.00 in a research note on Thursday, April 9th. Sanford C. Bernstein lifted their price objective on Canadian National Railway from $113.88 to $117.36 and gave the stock a “market perform” rating in a research note on Tuesday, March 31st. Citigroup lifted their price objective on Canadian National Railway from $123.00 to $124.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Finally, Canadian Imperial Bank of Commerce lifted their price objective on Canadian National Railway from C$164.00 to C$182.00 and gave the stock an “outperformer” rating in a research note on Tuesday, June 9th. Nine investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $122.04.
Check Out Our Latest Report on CNI
About Canadian National Railway
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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