Patten & Patten Inc. TN Cuts Position in Canadian National Railway (NYSE:CNI)

Patten & Patten Inc. TN reduced its position in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 4.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 78,248 shares of the transportation company’s stock after selling 3,825 shares during the period. Patten & Patten Inc. TN’s holdings in Canadian National Railway were worth $7,943,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. grew its position in Canadian National Railway by 48.2% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 332 shares of the transportation company’s stock valued at $34,000 after acquiring an additional 108 shares in the last quarter. Crestwood Advisors Group LLC grew its holdings in shares of Canadian National Railway by 4.2% in the fourth quarter. Crestwood Advisors Group LLC now owns 2,814 shares of the transportation company’s stock valued at $286,000 after purchasing an additional 114 shares in the last quarter. Addison Advisors LLC increased its stake in Canadian National Railway by 80.2% during the 4th quarter. Addison Advisors LLC now owns 319 shares of the transportation company’s stock worth $32,000 after buying an additional 142 shares during the period. Banque Cantonale Vaudoise lifted its holdings in Canadian National Railway by 5.2% during the 3rd quarter. Banque Cantonale Vaudoise now owns 3,099 shares of the transportation company’s stock worth $363,000 after buying an additional 152 shares in the last quarter. Finally, Assetmark Inc. boosted its position in Canadian National Railway by 3.1% in the 3rd quarter. Assetmark Inc. now owns 4,980 shares of the transportation company’s stock valued at $583,000 after buying an additional 152 shares during the period. 80.74% of the stock is owned by institutional investors and hedge funds.

Canadian National Railway Stock Performance

Shares of CNI stock opened at $97.70 on Friday. Canadian National Railway has a 1 year low of $93.64 and a 1 year 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 firm has a market cap of $61.40 billion, a price-to-earnings ratio of 19.08, a PEG ratio of 1.95 and a beta of 0.91. The stock’s 50-day moving average is $101.77 and its two-hundred day moving average is $107.90.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings results on Thursday, January 30th. The transportation company reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.09). Canadian National Railway had a return on equity of 22.48% and a net margin of 26.09%. Analysts predict that Canadian National Railway will post 5.52 earnings per share for the current year.

Canadian National Railway Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be paid a dividend of $0.6159 per share. The ex-dividend date is Monday, March 10th. This represents a $2.46 dividend on an annualized basis and a yield of 2.52%. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.61. Canadian National Railway’s dividend payout ratio is currently 47.66%.

Analyst Ratings Changes

CNI has been the topic of several analyst reports. Bank of America reduced their price objective on Canadian National Railway from $119.00 to $112.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Loop Capital cut Canadian National Railway from a “hold” rating to a “sell” rating in a research note on Monday, February 3rd. Susquehanna cut their target price on shares of Canadian National Railway from $125.00 to $115.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Royal Bank of Canada decreased their price target on shares of Canadian National Railway from $174.00 to $171.00 and set an “outperform” rating for the company in a research note on Friday, January 31st. Finally, Stifel Nicolaus increased their price objective on shares of Canadian National Railway from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $124.19.

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.