Notis McConarty Edward Reduces Stake in Canadian National Railway (NYSE:CNI)

Notis McConarty Edward trimmed its position in shares of Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR by 6.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,513 shares of the transportation company's stock after selling 3,018 shares during the quarter. Canadian National Railway accounts for 2.0% of Notis McConarty Edward's portfolio, making the stock its 18th largest position. Notis McConarty Edward's holdings in Canadian National Railway were worth $4,214,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of CNI. Norges Bank acquired a new position in shares of Canadian National Railway during the 4th quarter worth approximately $563,048,000. National Bank of Canada FI increased its holdings in Canadian National Railway by 46.5% in the 3rd quarter. National Bank of Canada FI now owns 6,737,322 shares of the transportation company's stock valued at $789,030,000 after buying an additional 2,137,948 shares during the period. Canoe Financial LP acquired a new stake in Canadian National Railway in the fourth quarter valued at about $216,943,000. Arrowstreet Capital Limited Partnership grew its stake in shares of Canadian National Railway by 29.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,814,469 shares of the transportation company's stock worth $488,488,000 after buying an additional 1,102,977 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in Canadian National Railway by 4.4% during the 3rd quarter. Wellington Management Group LLP now owns 18,562,189 shares of the transportation company's stock worth $2,175,935,000 after buying an additional 790,420 shares during the period. 80.74% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CNI. Barclays dropped their price objective on shares of Canadian National Railway from $112.00 to $104.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 2nd. Bank of America reduced their price objective on shares of 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. TD Securities upgraded Canadian National Railway from a "hold" rating to a "strong-buy" rating in a research note on Monday, January 13th. Susquehanna dropped their price objective on Canadian National Railway from $115.00 to $113.00 and set a "neutral" rating on the stock in a research note on Thursday, March 27th. Finally, Wells Fargo & Company dropped 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 report on Monday, January 13th. 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 issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $121.19.

Canadian National Railway Price Performance

Shares of NYSE:CNI traded down $3.19 during mid-day trading on Thursday, reaching $95.14. The stock had a trading volume of 904,512 shares, compared to its average volume of 1,266,720. The company has a market cap of $59.78 billion, a P/E ratio of 18.53, a price-to-earnings-growth ratio of 1.95 and a beta of 0.93. The business's 50 day moving average price is $99.46 and its 200 day moving average price is $105.17. The company has a current ratio of 0.66, a quick ratio of 0.48 and a debt-to-equity ratio of 0.94. Canadian National Railway has a 1 year low of $91.65 and a 1 year high of $132.27.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last announced 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%. Research analysts expect that Canadian National Railway will post 5.52 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were given a $0.6159 dividend. The ex-dividend date was Monday, March 10th. This represents a $2.46 dividend on an annualized basis and a dividend yield of 2.59%. This is an increase from Canadian National Railway's previous quarterly dividend of $0.61. Canadian National Railway's payout ratio is presently 47.66%.

Canadian National Railway 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.