Coronation Fund Managers Ltd. Sells 22,253 Shares of Canadian National Railway

Coronation Fund Managers Ltd. has reduced its stake in Canadian National Railway (NYSE:CNI, TSE:CNR) by 10.9% during the fourth quarter. This change is documented in their latest 13F filing with the SEC. After selling 22,253 shares, the firm now owns a total of 182,222 shares in the transportation company. Canadian National Railway represents 1.1% of Coronation Fund Managers Ltd.'s investment portfolio, ranking as the firm's 25th largest holding. As of the most recent filing, the value of Coronation's holdings in Canadian National Railway amounts to $18,497,000.

Recent Activity from Other Investors

Other large investors have also made adjustments to their positions in Canadian National Railway. For example, Fortitude Family Office LLC increased its stake significantly by 738.7% in the third quarter and now holds 260 shares valued at $30,000 after adding 229 shares. In addition, Coastline Trust Co acquired new shares worth approximately $34,000 during the same period. Thurston Springer Miller Herd & Titak Inc. boosted its holdings by 48.2% in the fourth quarter, bringing its total to 332 shares valued at $34,000 after gaining 108 extra shares. Furthermore, Reston Wealth Management LLC and Sanctuary Wealth Management L.L.C. also purchased new positions in the third quarter valued at approximately $41,000 and $56,000, respectively. Currently, institutional investors own 80.74% of Canadian National Railway's stock.

Canadian National Railway Price Overview

The shares of Canadian National Railway opened trading at $101.53 on a recent Monday. The stock is currently above its 50-day moving average of $103.56 and below its 200-day moving average of $110.19. Over the past year, the stock's low was recorded at $98.69, while the highest achieved was $134.02. The company exhibits a debt-to-equity ratio of 0.94, a current ratio of 0.66, and a quick ratio of 0.48. It has a market cap of $63.85 billion, a price-to-earnings (P/E) ratio of 19.83, a price/earnings growth (PEG) ratio of 1.94, and a beta of 0.91.

Dividend Increase Announcement

Recently, Canadian National Railway declared a quarterly dividend set to be distributed on Monday, March 31st. Shareholders on record as of March 10th will receive a dividend of $0.6159, up from the previous quarterly dividend of $0.61. This translates to an annualized dividend of $2.46, yielding 2.43%. The ex-dividend date has also been noted as March 10th. Currently, the company's payout ratio stands at 46.68%.

Analyst Ratings and Forecasts

Canadian National Railway has received various recent assessments from analysts. Notably, Veritas upgraded its rating from "hold" to "strong-buy" as of October 23rd. Meanwhile, Benchmark maintained a "hold" rating in late October. Evercore ISI also upgraded the stock from a "hold" to a "strong-buy" late in December. In January, JPMorgan Chase & Co. further revised their opinion, moving from a "neutral" to an "overweight" rating. Ultimately, the current consensus rating stands at "Moderate Buy" with a price target of $124.19, stemming from a mix of ratings including two sell, seven hold, seven buy, and four strong buy ratings from research analysts.

Company Overview

Canadian National Railway, through its subsidiaries, operates in rail, intermodal, trucking, and marine transportation across Canada and the United States. The company offers a range of services, including equipment, custom brokerage, transloading, real estate development, and private car storage, alongside intermodal services such as temperature-controlled cargo and logistics solutions.

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