Jennison Associates LLC Sells 3,295 Shares of Canadian National Railway (NYSE:CNI)

Jennison Associates LLC lessened its stake in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 2.3% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 141,798 shares of the transportation company’s stock after selling 3,295 shares during the period. Jennison Associates LLC’s holdings in Canadian National Railway were worth $16,612,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in CNI. Advisors Asset Management Inc. lifted its position in Canadian National Railway by 14.0% during the first quarter. Advisors Asset Management Inc. now owns 8,174 shares of the transportation company’s stock valued at $1,077,000 after purchasing an additional 1,002 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Canadian National Railway by 3.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,986,555 shares of the transportation company’s stock valued at $525,070,000 after acquiring an additional 125,949 shares during the last quarter. Earnest Partners LLC grew its position in Canadian National Railway by 3.1% in the first quarter. Earnest Partners LLC now owns 852,141 shares of the transportation company’s stock worth $112,277,000 after acquiring an additional 25,500 shares in the last quarter. Ascent Group LLC lifted its stake in shares of Canadian National Railway by 5.1% in the 1st quarter. Ascent Group LLC now owns 2,495 shares of the transportation company’s stock valued at $329,000 after purchasing an additional 122 shares during the last quarter. Finally, Janus Henderson Group PLC raised its holdings in Canadian National Railway by 2.0% during the 1st quarter. Janus Henderson Group PLC now owns 82,561 shares of the transportation company’s stock valued at $10,874,000 after buying an additional 1,606 shares during the period. Institutional investors own 80.74% of the company’s stock.

Canadian National Railway Stock Up 1.9 %

Shares of CNI opened at $111.24 on Friday. The company’s 50-day moving average price is $113.14 and its 200 day moving average price is $117.23. Canadian National Railway has a 12-month low of $105.28 and a 12-month high of $134.02. The company has a current ratio of 0.64, a quick ratio of 0.49 and a debt-to-equity ratio of 0.96. The firm has a market cap of $70.06 billion, a P/E ratio of 17.83, a price-to-earnings-growth ratio of 2.41 and a beta of 0.89.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings results on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.02. The business had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.08 billion. Canadian National Railway had a net margin of 31.65% and a return on equity of 23.62%. The business’s revenue was up 3.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.26 EPS. On average, sell-side analysts forecast that Canadian National Railway will post 5.49 earnings per share for the current year.

Canadian National Railway Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be given a dividend of $0.6108 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $2.44 annualized dividend and a dividend yield of 2.20%. Canadian National Railway’s dividend payout ratio is currently 39.26%.

Analysts Set New Price Targets

CNI has been the subject of a number of recent analyst reports. Stifel Nicolaus lifted their price target on shares of Canadian National Railway from $130.00 to $132.00 and gave the stock a “hold” rating in a research note on Wednesday, October 23rd. Citigroup raised Canadian National Railway from a “neutral” rating to a “buy” rating and upped their price objective for the company from $126.00 to $130.00 in a research report on Tuesday, November 12th. Barclays lifted their target price on Canadian National Railway from $120.00 to $121.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Veritas upgraded shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 23rd. Finally, Susquehanna reduced their price target on shares of Canadian National Railway from $130.00 to $125.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $125.48.

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.