DAVENPORT & Co LLC Sells 25,644 Shares of Canadian National Railway (NYSE:CNI)

DAVENPORT & Co LLC lessened its position in shares of Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR by 72.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,597 shares of the transportation company's stock after selling 25,644 shares during the period. DAVENPORT & Co LLC's holdings in Canadian National Railway were worth $974,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. XTX Topco Ltd grew its holdings in shares of Canadian National Railway by 43.3% during the third quarter. XTX Topco Ltd now owns 15,552 shares of the transportation company's stock worth $1,822,000 after buying an additional 4,698 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Canadian National Railway by 29.6% during the 3rd quarter. Principal Financial Group Inc. now owns 92,300 shares of the transportation company's stock worth $10,820,000 after acquiring an additional 21,100 shares in the last quarter. Unigestion Holding SA raised its holdings in shares of Canadian National Railway by 363.6% in the third quarter. Unigestion Holding SA now owns 153,880 shares of the transportation company's stock valued at $18,012,000 after purchasing an additional 120,687 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Canadian National Railway by 5.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,962,972 shares of the transportation company's stock worth $464,002,000 after purchasing an additional 202,303 shares in the last quarter. Finally, Partners Group Holding AG boosted its holdings in Canadian National Railway by 16.3% during the third quarter. Partners Group Holding AG now owns 406,066 shares of the transportation company's stock worth $47,571,000 after purchasing an additional 56,849 shares during the last quarter. Institutional investors and hedge funds own 80.74% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CNI. Wells Fargo & Company lowered their price target on shares of Canadian National Railway from $125.00 to $123.00 and set an "overweight" rating on the stock in a research note on Monday, January 13th. Barclays dropped their target price on Canadian National Railway from $121.00 to $112.00 and set an "equal weight" rating on the stock in a report on Friday, January 17th. Benchmark reissued a "hold" rating on shares of Canadian National Railway in a research note on Thursday, October 24th. 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. Finally, Veritas upgraded shares of Canadian National Railway from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 23rd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $124.19.

Canadian National Railway Stock Performance

CNI traded up $0.86 during trading on Monday, hitting $102.44. The stock had a trading volume of 1,465,442 shares, compared to its average volume of 1,386,001. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.66 and a quick ratio of 0.48. The company has a 50 day moving average price of $103.56 and a 200-day moving average price of $110.15. Canadian National Railway has a one year low of $98.69 and a one year high of $134.02. The firm has a market cap of $64.42 billion, a price-to-earnings ratio of 20.01, a P/E/G ratio of 1.94 and a beta of 0.91.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last released its quarterly 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, research analysts predict that Canadian National Railway will post 5.49 EPS for the current year.

Canadian National Railway Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be given a $0.6159 dividend. This represents a $2.46 dividend on an annualized basis and a dividend yield of 2.40%. This is an increase from Canadian National Railway's previous quarterly dividend of $0.61. The ex-dividend date is Monday, March 10th. Canadian National Railway's payout ratio is presently 46.68%.

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.