Jennison Associates LLC Has $15.51 Million Stock Position in Canadian National Railway (NYSE:CNI)

Jennison Associates LLC grew its position in shares of Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR by 7.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 152,814 shares of the transportation company's stock after buying an additional 11,016 shares during the period. Jennison Associates LLC's holdings in Canadian National Railway were worth $15,512,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in CNI. Grove Bank & Trust raised its stake in Canadian National Railway by 15.3% during the third quarter. Grove Bank & Trust now owns 730 shares of the transportation company's stock worth $86,000 after acquiring an additional 97 shares during the period. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Canadian National Railway by 48.2% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 332 shares of the transportation company's stock worth $34,000 after purchasing an additional 108 shares during the period. Catalytic Wealth RIA LLC lifted its holdings in shares of Canadian National Railway by 2.3% in the 3rd quarter. Catalytic Wealth RIA LLC now owns 5,582 shares of the transportation company's stock worth $654,000 after purchasing an additional 123 shares during the last quarter. Harrington Investments INC boosted its position in Canadian National Railway by 0.6% during the 3rd quarter. Harrington Investments INC now owns 20,346 shares of the transportation company's stock valued at $2,384,000 after purchasing an additional 130 shares during the period. Finally, Koshinski Asset Management Inc. grew its stake in Canadian National Railway by 3.2% during the 3rd quarter. Koshinski Asset Management Inc. now owns 4,375 shares of the transportation company's stock worth $513,000 after buying an additional 135 shares during the last quarter. Institutional investors and hedge funds own 80.74% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CNI shares. TD Securities upgraded Canadian National Railway from a "hold" rating to a "strong-buy" rating in a research note on Monday, January 13th. Wells Fargo & Company cut their price objective on shares of Canadian National Railway from $125.00 to $123.00 and set an "overweight" rating on the stock in a research report on Monday, January 13th. Benchmark restated a "hold" rating on shares of Canadian National Railway in a research report on Thursday, October 24th. Loop Capital cut Canadian National Railway from a "hold" rating to a "sell" rating in a report on Monday, February 3rd. Finally, Citigroup raised Canadian National Railway from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $126.00 to $130.00 in a report on Tuesday, November 12th. Two 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 issued a strong buy rating to the company. According to data from MarketBeat, Canadian National Railway currently has a consensus rating of "Moderate Buy" and an average target price of $124.19.

Canadian National Railway Price Performance

Shares of NYSE CNI traded down $1.65 during midday trading on Friday, reaching $101.53. The company's stock had a trading volume of 1,469,934 shares, compared to its average volume of 1,372,838. The company has a market cap of $63.85 billion, a price-to-earnings ratio of 19.83, a price-to-earnings-growth ratio of 1.94 and a beta of 0.91. Canadian National Railway has a one year low of $98.69 and a one year high of $134.02. 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 company has a 50 day moving average price of $103.56 and a 200 day moving average price of $110.19.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last posted its quarterly 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%. On average, equities research analysts expect that Canadian National Railway will post 5.49 EPS for the current year.

Canadian National Railway Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a $0.6159 dividend. 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 2.43%. Canadian National Railway's dividend payout ratio (DPR) is 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.