HighTower Advisors LLC cut its holdings in Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR by 13.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 114,336 shares of the transportation company's stock after selling 17,541 shares during the quarter. HighTower Advisors LLC's holdings in Canadian National Railway were worth $11,606,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Natural Investments LLC bought a new stake in Canadian National Railway in the fourth quarter worth $470,000. AGF Management Ltd. lifted its position in Canadian National Railway by 26.7% in the fourth quarter. AGF Management Ltd. now owns 921,396 shares of the transportation company's stock worth $93,531,000 after buying an additional 194,343 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Canadian National Railway by 13.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 249,526 shares of the transportation company's stock worth $25,326,000 after buying an additional 29,856 shares during the last quarter. Farrow Financial Inc. lifted its position in Canadian National Railway by 2.9% in the fourth quarter. Farrow Financial Inc. now owns 18,980 shares of the transportation company's stock worth $1,913,000 after buying an additional 540 shares during the last quarter. Finally, PCJ Investment Counsel Ltd. bought a new stake in Canadian National Railway in the fourth quarter worth $3,203,000. 80.74% of the stock is owned by hedge funds and other institutional investors.
Canadian National Railway Stock Up 0.0 %
CNI traded up $0.04 on Thursday, hitting $97.70. The company had a trading volume of 1,239,336 shares, compared to its average volume of 1,183,699. The stock has a fifty day moving average price of $101.43 and a 200-day moving average price of $107.49. Canadian National Railway has a 12-month low of $93.64 and a 12-month high of $134.02. 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 stock has a market capitalization of $61.39 billion, a price-to-earnings ratio of 19.08, a P/E/G ratio of 1.95 and a beta of 0.91.
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 earnings per share (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%. Analysts predict that Canadian National Railway will post 5.52 EPS for the current fiscal year.
Canadian National Railway Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a $0.6159 dividend. This represents a $2.46 annualized dividend and a yield of 2.52%. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from Canadian National Railway's previous quarterly dividend of $0.61. Canadian National Railway's payout ratio is 47.66%.
Analyst Ratings Changes
A number of analysts recently issued reports on CNI shares. Bank of America lowered their price target on Canadian National Railway from $119.00 to $112.00 and set a "neutral" rating for the company in a research report on Wednesday, January 8th. Jefferies Financial Group upgraded Canadian National Railway from a "hold" rating to a "buy" rating and set a $120.00 target price for the company in a research report on Friday, January 10th. Loop Capital downgraded Canadian National Railway from a "hold" rating to a "sell" rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. upgraded Canadian National Railway from a "neutral" rating to an "overweight" rating in a research report on Tuesday, January 7th. Finally, Wells Fargo & Company decreased their target price on 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. Two analysts have rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Canadian National Railway currently has an average rating of "Moderate Buy" and an average target price of $124.19.
Check Out Our Latest Report on Canadian National Railway
Canadian National Railway Company Profile
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Free Report)
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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