Allianz SE Makes New Investment in Canadian National Railway (NYSE:CNI)

Allianz SE acquired a new stake in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 4,576 shares of the transportation company’s stock, valued at approximately $465,000.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Canadian National Railway during the fourth quarter worth about $563,048,000. National Bank of Canada FI raised its stake in Canadian National Railway by 46.5% during the third quarter. National Bank of Canada FI now owns 6,737,322 shares of the transportation company’s stock valued at $789,030,000 after buying an additional 2,137,948 shares in the last quarter. Canoe Financial LP bought a new position in Canadian National Railway during the 4th quarter worth approximately $216,943,000. Point72 Asset Management L.P. acquired a new position in shares of Canadian National Railway in the 3rd quarter worth approximately $159,907,000. Finally, Wellington Management Group LLP increased its holdings 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 valued at $2,175,935,000 after acquiring an additional 790,420 shares during the last quarter. 80.74% of the stock is owned by institutional investors and hedge funds.

Canadian National Railway Stock Performance

NYSE:CNI opened at $97.39 on Monday. The company has a 50-day moving average of $101.07 and a 200-day moving average of $106.51. The firm has a market cap of $61.20 billion, a price-to-earnings ratio of 19.02, a price-to-earnings-growth ratio of 1.95 and a beta of 0.91. The company has a current ratio of 0.66, a quick ratio of 0.48 and a debt-to-equity ratio of 0.94. Canadian National Railway has a twelve month low of $93.64 and a twelve month high of $132.27.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued 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 return on equity of 22.48% and a net margin of 26.09%. Analysts forecast that Canadian National Railway will post 5.52 earnings per share 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. Stockholders of record on Monday, March 10th will be given a dividend of $0.6159 per share. The ex-dividend date is Monday, March 10th. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.61. This represents a $2.46 dividend on an annualized basis and a dividend yield of 2.53%. Canadian National Railway’s payout ratio is 47.66%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CNI. Barclays decreased their price objective on shares of Canadian National Railway from $121.00 to $112.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Loop Capital downgraded shares of Canadian National Railway from a “hold” rating to a “sell” rating in a research report on Monday, February 3rd. Evercore ISI upgraded shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Thursday, December 19th. TD Securities upgraded Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 13th. Finally, Bank of America dropped their price target on Canadian National Railway from $119.00 to $112.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $124.02.

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.