Patten & Patten Inc. TN Reduces Stock Holdings in Canadian National Railway (NYSE:CNI)

Patten & Patten Inc. TN trimmed its stake in Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR by 4.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 78,248 shares of the transportation company's stock after selling 3,825 shares during the period. Patten & Patten Inc. TN's holdings in Canadian National Railway were worth $7,943,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. National Bank of Canada FI raised its holdings 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 in the last quarter. Canoe Financial LP bought a new stake in shares of Canadian National Railway in the 4th quarter valued at about $216,943,000. Point72 Asset Management L.P. bought a new stake in shares of Canadian National Railway in the 3rd quarter valued at about $159,907,000. Wellington Management Group LLP raised 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 purchasing an additional 790,420 shares in the last quarter. Finally, Toronto Dominion Bank raised its holdings 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 in the last quarter. 80.74% of the stock is owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

Several equities research analysts have recently commented on CNI shares. Stifel Nicolaus boosted their price target on shares of Canadian National Railway from $120.00 to $125.00 and gave the company a "buy" rating in a report on Friday, January 31st. Susquehanna reduced their price target on shares of Canadian National Railway from $125.00 to $115.00 and set a "neutral" rating for the company in a report on Wednesday, January 8th. Royal Bank of Canada reduced their price target on shares of Canadian National Railway from $174.00 to $171.00 and set an "outperform" rating for the company in a report on Friday, January 31st. 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. Finally, TD Securities upgraded shares of Canadian National Railway from a "hold" rating to a "strong-buy" rating in a research note on Monday, January 13th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and four have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $124.19.

Canadian National Railway Stock Performance

Canadian National Railway stock traded up $0.04 during mid-day trading on Thursday, reaching $97.70. 1,311,721 shares of the company traded hands, compared to its average volume of 1,183,988. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.66 and a quick ratio of 0.48. Canadian National Railway has a fifty-two week low of $93.64 and a fifty-two week high of $134.02. The company has a market capitalization of $61.39 billion, a price-to-earnings ratio of 19.08, a price-to-earnings-growth ratio of 1.95 and a beta of 0.91. The firm's fifty day moving average is $101.43 and its two-hundred day moving average is $107.49.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last issued its quarterly earnings results on Thursday, January 30th. The transportation company reported $1.30 earnings per share (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%. On average, equities research analysts expect that Canadian National Railway will post 5.52 earnings per share for the current fiscal year.

Canadian National Railway Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a $0.6159 dividend. This is an increase from Canadian National Railway's previous quarterly dividend of $0.61. This represents a $2.46 annualized dividend and a dividend yield of 2.52%. The ex-dividend date is Monday, March 10th. Canadian National Railway's dividend payout ratio is 47.66%.

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.