Canadian National Railway (NYSE:CNI) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp decreased its holdings in shares of Canadian National Railway (NYSE:CNIFree Report) (TSE:CNR) by 5.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 170,238 shares of the transportation company’s stock after selling 10,407 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Canadian National Railway were worth $18,426,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of CNI. Crewe Advisors LLC purchased a new position in Canadian National Railway in the third quarter valued at about $43,000. Canada Pension Plan Investment Board grew its stake in Canadian National Railway by 6.1% in the third quarter. Canada Pension Plan Investment Board now owns 1,677,040 shares of the transportation company’s stock valued at $182,453,000 after purchasing an additional 96,360 shares in the last quarter. Wade G W & Inc. purchased a new position in Canadian National Railway in the third quarter valued at about $331,000. HighTower Advisors LLC grew its stake in Canadian National Railway by 7.5% in the third quarter. HighTower Advisors LLC now owns 119,829 shares of the transportation company’s stock valued at $12,901,000 after purchasing an additional 8,325 shares in the last quarter. Finally, Montrusco Bolton Investments Inc. grew its stake in Canadian National Railway by 0.9% in the third quarter. Montrusco Bolton Investments Inc. now owns 1,980,291 shares of the transportation company’s stock valued at $215,445,000 after purchasing an additional 16,880 shares in the last quarter. Hedge funds and other institutional investors own 67.60% of the company’s stock.

Canadian National Railway Price Performance

NYSE CNI opened at $128.36 on Tuesday. Canadian National Railway has a twelve month low of $103.96 and a twelve month high of $129.66. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.47 and a current ratio of 0.61. The stock has a market capitalization of $82.40 billion, a PE ratio of 20.25, a P/E/G ratio of 2.84 and a beta of 0.88. The stock has a 50-day simple moving average of $124.12 and a 200 day simple moving average of $116.11.

Canadian National Railway Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Investors of record on Thursday, March 7th will be given a dividend of $0.638 per share. This represents a $2.55 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend is Wednesday, March 6th. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.58. Canadian National Railway’s payout ratio is currently 36.59%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CNI. Susquehanna boosted their target price on Canadian National Railway from $112.00 to $115.00 and gave the company a “neutral” rating in a research note on Wednesday, October 25th. Barclays boosted their target price on Canadian National Railway from $109.00 to $113.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 25th. TD Securities downgraded Canadian National Railway from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Citigroup upped their price target on Canadian National Railway from $121.00 to $128.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 24th. Finally, Stephens upped their price target on Canadian National Railway from $122.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 4th. Seventeen equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $144.20.

Check Out Our Latest Analysis on CNI

Canadian National Railway Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Canadian National Railway (NYSE:CNI)

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