Bank of Montreal Can Decreases Stock Position in Canadian National Railway (NYSE:CNI)

Bank of Montreal Can trimmed its stake in shares of Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR by 2.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,346,289 shares of the transportation company's stock after selling 340,796 shares during the quarter. Canadian National Railway makes up about 0.7% of Bank of Montreal Can's portfolio, making the stock its 24th largest holding. Bank of Montreal Can owned about 2.44% of Canadian National Railway worth $1,556,378,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently modified their holdings of the company. Quintet Private Bank Europe S.A. bought a new position in shares of Canadian National Railway in the 4th quarter worth about $25,000. Arlington Trust Co LLC acquired a new stake in shares of Canadian National Railway in the 4th quarter worth about $30,000. Lee Danner & Bass Inc. bought a new stake in Canadian National Railway during the fourth quarter worth $30,000. Addison Advisors LLC lifted its position in shares of Canadian National Railway by 80.2% during the fourth quarter. Addison Advisors LLC now owns 319 shares of the transportation company's stock valued at $32,000 after purchasing an additional 142 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of Canadian National Railway by 48.2% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 332 shares of the transportation company's stock valued at $34,000 after acquiring an additional 108 shares in the last quarter. Institutional investors and hedge funds own 80.74% of the company's stock.

Remove Ads

Canadian National Railway Stock Performance

Shares of NYSE:CNI traded up $3.96 during midday trading on Friday, reaching $99.77. 1,712,787 shares of the company's stock traded hands, compared to its average volume of 1,273,766. The stock has a 50 day moving average of $99.36 and a 200 day moving average of $104.90. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.48 and a current ratio of 0.66. The company has a market cap of $62.70 billion, a price-to-earnings ratio of 19.49, a P/E/G ratio of 1.95 and a beta of 0.93. Canadian National Railway has a one year low of $91.65 and a one year high of $130.63.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last announced its earnings results on Thursday, January 30th. The transportation company reported $1.30 EPS 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%. As a group, equities research analysts anticipate that Canadian National Railway will post 5.52 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were given a dividend of $0.6159 per share. This represents a $2.46 annualized dividend and a dividend yield of 2.47%. This is an increase from Canadian National Railway's previous quarterly dividend of $0.61. The ex-dividend date was Monday, March 10th. Canadian National Railway's dividend payout ratio (DPR) is presently 47.66%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. 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. Susquehanna cut their price target on shares of Canadian National Railway from $115.00 to $113.00 and set a "neutral" rating for the company in a report on Thursday, March 27th. Loop Capital cut shares of Canadian National Railway from a "hold" rating to a "sell" rating in a research report on Monday, February 3rd. Royal Bank of Canada dropped their price target on Canadian National Railway from $174.00 to $171.00 and set an "outperform" rating for the company in a research note on Friday, January 31st. Finally, Barclays lowered their price target on shares of Canadian National Railway from $112.00 to $104.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 2nd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and four have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Canadian National Railway presently has an average rating of "Moderate Buy" and an average target price of $121.19.

About Canadian National Railway

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.