Wellington Management Group LLP Cuts Stock Position in Canadian National Railway (NYSE:CNI)

Wellington Management Group LLP decreased its holdings in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 5.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 17,476,898 shares of the transportation company’s stock after selling 1,085,291 shares during the period. Wellington Management Group LLP’s holdings in Canadian National Railway were worth $1,773,834,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of CNI. XTX Topco Ltd lifted its holdings in shares of Canadian National Railway by 43.3% in the 3rd quarter. XTX Topco Ltd now owns 15,552 shares of the transportation company’s stock valued at $1,822,000 after acquiring an additional 4,698 shares during the last quarter. Unigestion Holding SA raised its position in Canadian National Railway by 363.6% during the third quarter. Unigestion Holding SA now owns 153,880 shares of the transportation company’s stock valued at $18,012,000 after purchasing an additional 120,687 shares during the period. Synovus Financial Corp lifted its stake in shares of Canadian National Railway by 82.3% in the 3rd quarter. Synovus Financial Corp now owns 13,873 shares of the transportation company’s stock valued at $1,625,000 after purchasing an additional 6,261 shares during the last quarter. Sustainable Insight Capital Management LLC purchased a new position in shares of Canadian National Railway in the 4th quarter worth approximately $436,000. Finally, Two Sigma Advisers LP increased its position in shares of Canadian National Railway by 123.7% during the 3rd quarter. Two Sigma Advisers LP now owns 172,172 shares of the transportation company’s stock valued at $20,170,000 after purchasing an additional 95,200 shares during the last quarter. Institutional investors own 80.74% of the company’s stock.

Analyst Upgrades and Downgrades

CNI has been the subject of a number of analyst reports. Wells Fargo & Company lowered their price target on Canadian National Railway from $125.00 to $123.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Susquehanna dropped 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. Bank of America dropped their target price on 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. Evercore ISI upgraded Canadian National Railway from a “hold” rating to a “strong-buy” rating in a report on Thursday, December 19th. Finally, Royal Bank of Canada dropped their price objective on Canadian National Railway from $174.00 to $171.00 and set an “outperform” rating for the company in a report on Friday, January 31st. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, Canadian National Railway currently has an average rating of “Moderate Buy” and an average target price of $124.02.

Canadian National Railway Stock Performance

Shares of CNI stock opened at $97.39 on Monday. The firm has a market cap of $61.20 billion, a price-to-earnings ratio of 19.02, a PEG ratio of 1.95 and a beta of 0.91. Canadian National Railway has a 52-week low of $93.64 and a 52-week high of $132.27. The company has a quick ratio of 0.48, a current ratio of 0.66 and a debt-to-equity ratio of 0.94. The company’s 50 day moving average is $101.07 and its 200 day moving average is $106.51.

Canadian National Railway (NYSE:CNI) (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 analysts’ consensus estimates 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, sell-side analysts anticipate that Canadian National Railway will post 5.52 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be issued a $0.6159 dividend. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.61. This represents a $2.46 dividend on an annualized basis and a yield of 2.53%. Canadian National Railway’s payout ratio is currently 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.