Coronation Fund Managers Ltd. Sells 22,253 Shares of Canadian National Railway (NYSE:CNI)

Coronation Fund Managers Ltd. decreased its holdings in Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR by 10.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 182,222 shares of the transportation company's stock after selling 22,253 shares during the quarter. Canadian National Railway accounts for approximately 1.1% of Coronation Fund Managers Ltd.'s holdings, making the stock its 25th biggest holding. Coronation Fund Managers Ltd.'s holdings in Canadian National Railway were worth $18,497,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Fortitude Family Office LLC lifted its position in Canadian National Railway by 738.7% during the 3rd quarter. Fortitude Family Office LLC now owns 260 shares of the transportation company's stock worth $30,000 after buying an additional 229 shares in the last quarter. Coastline Trust Co acquired a new position in shares of Canadian National Railway during the third quarter worth approximately $34,000. Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of 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 valued at $34,000 after purchasing an additional 108 shares during the last quarter. Reston Wealth Management LLC acquired a new stake in shares of Canadian National Railway in the third quarter valued at approximately $41,000. Finally, Sanctuary Wealth Management L.L.C. bought a new position in Canadian National Railway in the 3rd quarter worth approximately $56,000. 80.74% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CNI has been the topic of a number of recent research reports. JPMorgan Chase & Co. upgraded Canadian National Railway from a "neutral" rating to an "overweight" rating in a research report on Tuesday, January 7th. Bank of America decreased their price target on Canadian National Railway from $119.00 to $112.00 and set a "neutral" rating on the stock in a report on Wednesday, January 8th. Evercore ISI upgraded Canadian National Railway from a "hold" rating to a "strong-buy" rating in a research report on Thursday, December 19th. Barclays cut their target price on shares of Canadian National Railway from $121.00 to $112.00 and set an "equal weight" rating on the stock in a research report on Friday, January 17th. Finally, Citigroup upgraded shares of Canadian National Railway from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $126.00 to $130.00 in a research report on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and four have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Canadian National Railway presently has an average rating of "Moderate Buy" and a consensus target price of $124.19.

Canadian National Railway Stock Performance

Shares of CNI stock traded down $0.07 during midday trading on Thursday, hitting $102.56. 2,044,130 shares of the company were exchanged, compared to its average volume of 1,401,139. Canadian National Railway has a 52 week low of $98.69 and a 52 week high of $134.02. The firm has a market capitalization of $64.49 billion, a P/E ratio of 20.03, a PEG ratio of 1.94 and a beta of 0.91. The firm's 50 day moving average price is $103.12 and its two-hundred day moving average price is $109.93. 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 - Get Free Report) TSE: CNR last posted its earnings results on Thursday, January 30th. The transportation company reported $1.30 EPS for the quarter, missing the consensus estimate 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 5.49 earnings per share for the current year.

Canadian National Railway Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be given a dividend of $0.6159 per share. This is a boost from Canadian National Railway's previous quarterly dividend of $0.61. The ex-dividend date is Monday, March 10th. This represents a $2.46 annualized dividend and a yield of 2.40%. Canadian National Railway's dividend payout ratio (DPR) is presently 46.68%.

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.