Connor Clark & Lunn Investment Management Ltd. Trims Holdings in Canadian National Railway (NYSE:CNI)

Connor Clark & Lunn Investment Management Ltd. decreased its stake in shares of Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR by 10.3% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 3,556,179 shares of the transportation company's stock after selling 406,793 shares during the period. Canadian National Railway accounts for 1.6% of Connor Clark & Lunn Investment Management Ltd.'s investment portfolio, making the stock its 12th largest position. Connor Clark & Lunn Investment Management Ltd. owned about 0.57% of Canadian National Railway worth $360,658,000 as of its most recent filing with the SEC.

A number of other hedge funds have also added to or reduced their stakes in CNI. Quintet Private Bank Europe S.A. bought a new position in shares of Canadian National Railway in the fourth quarter valued at approximately $25,000. Arlington Trust Co LLC bought a new position in shares of Canadian National Railway in the fourth quarter worth $30,000. Addison Advisors LLC raised its position in shares of Canadian National Railway by 80.2% in the fourth quarter. Addison Advisors LLC now owns 319 shares of the transportation company's stock worth $32,000 after buying an additional 142 shares in the last quarter. Coastline Trust Co bought a new stake in Canadian National Railway during the third quarter valued at $34,000. Finally, Thurston Springer Miller Herd & Titak Inc. grew its position in Canadian National Railway by 48.2% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 332 shares of the transportation company's stock worth $34,000 after buying an additional 108 shares in the last quarter. Hedge funds and other institutional investors own 80.74% of the company's stock.

Canadian National Railway Stock Performance

Canadian National Railway stock opened at $95.33 on Wednesday. Canadian National Railway has a 1-year low of $93.64 and a 1-year high of $134.02. The firm has a market cap of $59.89 billion, a P/E ratio of 18.62, a P/E/G 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. The firm has a 50-day moving average of $102.08 and a 200-day moving average of $108.28.

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Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last issued its quarterly earnings data 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%. Sell-side analysts expect that Canadian National Railway will post 5.52 EPS for the current 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 paid a dividend of $0.6159 per share. This is a positive change from Canadian National Railway's previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.46 dividend on an annualized basis and a dividend yield of 2.58%. Canadian National Railway's payout ratio is presently 47.85%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CNI. Citigroup raised Canadian National Railway from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $126.00 to $130.00 in a report on Tuesday, November 12th. TD Securities raised shares of Canadian National Railway from a "hold" rating to a "strong-buy" rating in a report on Monday, January 13th. Bank of America lowered their price objective on shares of 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. Wells Fargo & Company cut their target price 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. Finally, Loop Capital downgraded Canadian National Railway from a "hold" rating to a "sell" rating in a research report on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, Canadian National Railway presently has an average rating of "Moderate Buy" and an average price target 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.

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