Commonwealth Equity Services LLC Decreases Stake in Canadian National Railway (NYSE:CNI)

Commonwealth Equity Services LLC reduced its stake in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 1.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 47,066 shares of the transportation company’s stock after selling 720 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Canadian National Railway were worth $4,778,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of CNI. National Bank of Canada FI raised its position in shares of Canadian National Railway by 46.5% in 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 last quarter. Canoe Financial LP purchased a new position in shares of Canadian National Railway in the 4th quarter valued at approximately $216,943,000. Point72 Asset Management L.P. purchased a new position in shares of Canadian National Railway in the 3rd quarter valued at approximately $159,907,000. Wellington Management Group LLP raised its position 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 purchasing an additional 790,420 shares during the last quarter. Finally, Toronto Dominion Bank raised its position in shares of Canadian National Railway by 64.5% in the 3rd quarter. Toronto Dominion Bank now owns 1,492,218 shares of the transportation company’s stock valued at $174,813,000 after purchasing an additional 584,832 shares during the last quarter. 80.74% of the stock is owned by hedge funds and other institutional investors.

Canadian National Railway Price Performance

Canadian National Railway stock opened at $96.71 on Friday. The company’s fifty day moving average price is $101.27 and its 200 day moving average price is $107.21. Canadian National Railway has a 1 year low of $93.64 and a 1 year high of $132.73. The stock has a market capitalization of $60.77 billion, a P/E ratio of 18.89, a P/E/G ratio of 1.95 and a beta of 0.91. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.48 and a current ratio of 0.66.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its earnings results on Thursday, January 30th. The transportation company reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.39 by ($0.09). Canadian National Railway had a return on equity of 22.48% and a net margin of 26.09%. As a group, equities research analysts anticipate 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 declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a dividend of $0.6159 per share. This represents a $2.46 annualized dividend and a dividend yield of 2.55%. 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 currently 47.66%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Loop Capital lowered shares of Canadian National Railway from a “hold” rating to a “sell” rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. raised shares of Canadian National Railway from a “neutral” rating to an “overweight” rating in a research report on Tuesday, January 7th. Evercore ISI raised shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research report on Thursday, December 19th. Barclays reduced their price target on shares of Canadian National Railway from $121.00 to $112.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Finally, Wells Fargo & Company reduced their price target on shares of Canadian National Railway from $125.00 to $123.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, Canadian National Railway currently has a consensus rating of “Moderate Buy” and an average target price of $124.19.

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.