TCI Fund Management Ltd. Reduces Position in Canadian National Railway (NYSE:CNI)

TCI Fund Management Ltd. cut its position in shares of Canadian National Railway (NYSE:CNIFree Report) (TSE:CNR) by 2.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 40,072,313 shares of the transportation company’s stock after selling 816,640 shares during the period. Canadian National Railway comprises 14.0% of TCI Fund Management Ltd.’s portfolio, making the stock its 2nd biggest position. TCI Fund Management Ltd. owned 6.24% of Canadian National Railway worth $5,037,819,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Verition Fund Management LLC lifted its position in shares of Canadian National Railway by 123.3% in the 4th quarter. Verition Fund Management LLC now owns 57,252 shares of the transportation company’s stock worth $7,193,000 after purchasing an additional 31,613 shares during the period. Sei Investments Co. lifted its holdings in Canadian National Railway by 3.0% during the fourth quarter. Sei Investments Co. now owns 366,740 shares of the transportation company’s stock worth $46,074,000 after buying an additional 10,689 shares during the period. Evercore Wealth Management LLC bought a new stake in Canadian National Railway during the 4th quarter valued at $258,000. Broderick Brian C boosted its position in Canadian National Railway by 1.8% during the 4th quarter. Broderick Brian C now owns 107,339 shares of the transportation company’s stock valued at $13,485,000 after acquiring an additional 1,890 shares in the last quarter. Finally, CenterBook Partners LP purchased a new position in shares of Canadian National Railway in the 4th quarter valued at $883,000. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Canadian National Railway Stock Performance

CNI traded up $0.56 during trading on Friday, reaching $126.91. 479,837 shares of the company’s stock were exchanged, compared to its average volume of 893,498. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.60 and a quick ratio of 0.46. Canadian National Railway has a 1 year low of $103.96 and a 1 year high of $134.02. The company’s fifty day simple moving average is $127.88 and its 200-day simple moving average is $124.99. The stock has a market capitalization of $80.80 billion, a P/E ratio of 20.24, a price-to-earnings-growth ratio of 2.21 and a beta of 0.89.

Canadian National Railway (NYSE:CNIGet Free Report) (TSE:CNR) last released its quarterly earnings data on Tuesday, April 23rd. The transportation company reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.01. The firm had revenue of $3.15 billion for the quarter, compared to analyst estimates of $3.16 billion. Canadian National Railway had a net margin of 32.81% and a return on equity of 23.27%. As a group, research analysts predict that Canadian National Railway will post 5.9 earnings per share for the current fiscal year.

Canadian National Railway Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be paid a dividend of $0.625 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.97%. Canadian National Railway’s payout ratio is currently 39.71%.

Wall Street Analyst Weigh In

CNI has been the topic of a number of recent research reports. Jefferies Financial Group initiated coverage on Canadian National Railway in a research report on Monday, April 8th. They set a “hold” rating and a $130.00 price objective on the stock. Barclays lifted their price objective on shares of Canadian National Railway from $127.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 4th. Stifel Nicolaus boosted their price objective on shares of Canadian National Railway from $121.00 to $134.00 and gave the stock a “hold” rating in a research note on Friday, April 12th. StockNews.com downgraded shares of Canadian National Railway from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Stephens reaffirmed an “equal weight” rating and issued a $140.00 price target on shares of Canadian National Railway in a report on Wednesday, April 24th. Eighteen investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $149.05.

Check Out Our Latest Stock Report on Canadian National Railway

About Canadian National Railway

(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.

Further Reading

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

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