Alberta Investment Management Corp Has $120.61 Million Holdings in Canadian National Railway (NYSE:CNI)

Alberta Investment Management Corp lessened its position in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 6.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,188,302 shares of the transportation company’s stock after selling 80,896 shares during the quarter. Canadian National Railway makes up approximately 0.8% of Alberta Investment Management Corp’s investment portfolio, making the stock its 17th largest holding. Alberta Investment Management Corp’s holdings in Canadian National Railway were worth $120,607,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wellington Management Group LLP increased its position in Canadian National Railway by 4.4% during the 3rd quarter. Wellington Management Group LLP now owns 18,562,189 shares of the transportation company’s stock valued at $2,175,935,000 after purchasing an additional 790,420 shares during the period. National Bank of Canada FI increased its position in 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 purchasing an additional 2,137,948 shares during the period. Fiera Capital Corp grew its position in shares of Canadian National Railway by 2.6% during the 4th quarter. Fiera Capital Corp now owns 5,624,594 shares of the transportation company’s stock worth $570,550,000 after buying an additional 142,070 shares during the period. CIBC Asset Management Inc grew its position in shares of Canadian National Railway by 12.6% during the 4th quarter. CIBC Asset Management Inc now owns 5,119,674 shares of the transportation company’s stock worth $519,843,000 after buying an additional 571,967 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position 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 buying an additional 202,303 shares during the period. Institutional investors and hedge funds own 80.74% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on CNI. Stephens reiterated an “equal weight” rating and issued a $116.00 target price on shares of Canadian National Railway in a report on Wednesday, October 23rd. Stifel Nicolaus increased their target price on Canadian National Railway from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Friday, January 31st. JPMorgan Chase & Co. upgraded Canadian National Railway from a “neutral” rating to an “overweight” rating in a research note on Tuesday, January 7th. Barclays dropped their price objective on Canadian National Railway from $121.00 to $112.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Finally, Royal Bank of Canada dropped their price objective on Canadian National Railway from $174.00 to $171.00 and set an “outperform” rating on the stock in a research note on Friday, January 31st. 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $124.19.

Canadian National Railway Stock Up 1.2 %

CNI stock opened at $102.79 on Wednesday. The company has a quick ratio of 0.48, a current ratio of 0.66 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $64.58 billion, a PE ratio of 20.08, a PEG ratio of 1.91 and a beta of 0.91. Canadian National Railway has a twelve month low of $98.69 and a twelve month high of $134.02. The stock has a 50-day simple moving average of $102.71 and a two-hundred day simple moving average of $109.56.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its earnings results on Thursday, January 30th. The transportation company reported $1.30 earnings per share for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.09). Canadian National Railway had a net margin of 26.09% and a return on equity of 22.48%. On average, equities analysts predict that Canadian National Railway will post 5.5 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be issued a dividend of $0.6159 per share. This represents a $2.46 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.61. Canadian National Railway’s 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.