Cigna Investments Inc. New Decreases Stake in Canadian National Railway (NYSE:CNI)

Cigna Investments Inc. New reduced its stake in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 2.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 9,816 shares of the transportation company’s stock after selling 209 shares during the period. Cigna Investments Inc. New’s holdings in Canadian National Railway were worth $996,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Wellington Management Group LLP boosted its position in shares of Canadian National Railway by 4.4% in the 3rd quarter. Wellington Management Group LLP now owns 18,562,189 shares of the transportation company’s stock worth $2,175,935,000 after buying an additional 790,420 shares in the last quarter. National Bank of Canada FI increased its stake in shares of Canadian National Railway by 46.5% during the 3rd quarter. National Bank of Canada FI now owns 6,737,322 shares of the transportation company’s stock valued at $789,030,000 after acquiring an additional 2,137,948 shares during the last quarter. Fiera Capital Corp increased its stake in shares of Canadian National Railway by 0.7% during the 3rd quarter. Fiera Capital Corp now owns 5,482,524 shares of the transportation company’s stock valued at $642,828,000 after acquiring an additional 39,063 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Canadian National Railway by 5.4% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,962,972 shares of the transportation company’s stock worth $464,002,000 after purchasing an additional 202,303 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of Canadian National Railway by 6.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,562,480 shares of the transportation company’s stock worth $302,895,000 after purchasing an additional 158,757 shares during the period. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Stephens reiterated an “equal weight” rating and set a $116.00 target price on shares of Canadian National Railway in a research note on Wednesday, October 23rd. Susquehanna dropped their target price on Canadian National Railway from $125.00 to $115.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Evercore ISI raised Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research report on Thursday, December 19th. JPMorgan Chase & Co. raised Canadian National Railway from a “neutral” rating to an “overweight” rating in a research note on Tuesday, January 7th. Finally, Citigroup upgraded Canadian National Railway from a “neutral” rating to a “buy” rating and increased their price target for the company from $126.00 to $130.00 in a research report on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $124.19.

Canadian National Railway Stock Up 0.8 %

Shares of Canadian National Railway stock opened at $102.44 on Tuesday. Canadian National Railway has a 1 year low of $98.69 and a 1 year high of $134.02. The business has a 50-day moving average of $103.56 and a two-hundred day moving average of $110.15. The company has a market capitalization of $64.42 billion, a P/E ratio of 20.01, a price-to-earnings-growth ratio of 1.94 and a beta of 0.91. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.66 and a quick ratio of 0.48.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings data on Thursday, January 30th. The transportation company reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.09). Canadian National Railway had a return on equity of 22.48% and a net margin of 26.09%. As a group, equities analysts predict that Canadian National Railway will post 5.49 EPS for the current year.

Canadian National Railway Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be paid a $0.6159 dividend. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.61. The ex-dividend date is Monday, March 10th. This represents a $2.46 annualized dividend and a yield of 2.40%. Canadian National Railway’s dividend payout ratio is presently 46.68%.

Canadian National Railway Company Profile

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.