Wellington Management Group LLP Sells 1,085,291 Shares of Canadian National Railway (NYSE:CNI)

Wellington Management Group LLP cut its holdings in Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR by 5.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 17,476,898 shares of the transportation company's stock after selling 1,085,291 shares during the quarter. Wellington Management Group LLP owned about 2.78% of Canadian National Railway worth $1,773,834,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Clearbridge Investments LLC increased its holdings in Canadian National Railway by 11.2% during the 4th quarter. Clearbridge Investments LLC now owns 1,281,715 shares of the transportation company's stock worth $130,107,000 after purchasing an additional 128,966 shares in the last quarter. ClearBridge Investments Ltd boosted its position in shares of Canadian National Railway by 73.2% during the fourth quarter. ClearBridge Investments Ltd now owns 804,212 shares of the transportation company's stock worth $81,636,000 after buying an additional 339,774 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings 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 in the last quarter. Allianz SE acquired a new stake in Canadian National Railway in the 4th quarter valued at approximately $465,000. Finally, Brown Brothers Harriman & Co. lifted its stake in Canadian National Railway by 55.6% in the 4th quarter. Brown Brothers Harriman & Co. now owns 1,553 shares of the transportation company's stock valued at $158,000 after acquiring an additional 555 shares in the last quarter. 80.74% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CNI. Susquehanna decreased their price target on shares of Canadian National Railway from $115.00 to $113.00 and set a "neutral" rating for the company in a research note on Thursday, March 27th. Bank of America reduced their target price on shares of Canadian National Railway from $119.00 to $112.00 and set a "neutral" rating for the company in a report on Wednesday, January 8th. TD Securities upgraded shares of Canadian National Railway from a "hold" rating to a "strong-buy" rating in a research note on Monday, January 13th. Barclays reduced their price objective on shares of Canadian National Railway from $112.00 to $104.00 and set an "equal weight" rating for the company in a research note on Wednesday. Finally, JPMorgan Chase & Co. raised Canadian National Railway from a "neutral" rating to an "overweight" rating in a research report on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, Canadian National Railway currently has a consensus rating of "Moderate Buy" and an average target price of $123.36.

Canadian National Railway Stock Performance

Shares of CNI traded down $1.60 during mid-day trading on Friday, reaching $96.61. The company's stock had a trading volume of 1,795,801 shares, compared to its average volume of 1,250,716. 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 $93.64 and a 1-year high of $132.27. The business has a 50-day simple moving average of $100.46 and a two-hundred day simple moving average of $105.95. The stock has a market cap of $60.71 billion, a P/E ratio of 18.87, a PEG ratio of 1.95 and a beta of 0.91.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last announced 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%. As a group, equities research analysts anticipate that Canadian National Railway will post 5.52 earnings per share for the current fiscal year.

Canadian National Railway Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were issued a dividend of $0.6159 per share. This is an increase from Canadian National Railway's previous quarterly dividend of $0.61. The ex-dividend date was Monday, March 10th. This represents a $2.46 annualized dividend and a dividend yield of 2.55%. Canadian National Railway's payout ratio is presently 47.66%.

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.