Canadian National Railway (NYSE:CNI) Shares Sold by Congress Asset Management Co.

Congress Asset Management Co. cut its holdings in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 9.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 2,405 shares of the transportation company’s stock after selling 264 shares during the period. Congress Asset Management Co.’s holdings in Canadian National Railway were worth $244,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in CNI. Fortitude Family Office LLC boosted its stake in Canadian National Railway by 738.7% in the 3rd quarter. Fortitude Family Office LLC now owns 260 shares of the transportation company’s stock worth $30,000 after buying an additional 229 shares during the last quarter. Arlington Trust Co LLC purchased a new stake in shares of Canadian National Railway during the 4th quarter worth about $30,000. Coastline Trust Co acquired a new stake in Canadian National Railway during the 3rd quarter worth approximately $34,000. Thurston Springer Miller Herd & Titak Inc. raised its holdings in Canadian National Railway by 48.2% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 332 shares of the transportation company’s stock valued at $34,000 after buying an additional 108 shares during the period. Finally, Reston Wealth Management LLC acquired a new position in Canadian National Railway during the third quarter valued at approximately $41,000. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CNI. 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. Bank of America cut their price objective on Canadian National Railway from $119.00 to $112.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Citigroup raised Canadian National Railway from a “neutral” rating to a “buy” rating and upped their target price for the stock from $126.00 to $130.00 in a research report on Tuesday, November 12th. Benchmark reiterated a “hold” rating on shares of Canadian National Railway in a research note on Thursday, October 24th. 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 investment analysts have rated the stock with a sell rating, seven have given 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, the company has a consensus rating of “Moderate Buy” and an average target price of $124.19.

Canadian National Railway Price Performance

Shares of CNI stock opened at $102.79 on Wednesday. The firm has a fifty day moving average of $102.78 and a two-hundred day moving average of $109.63. The firm has a market cap of $64.64 billion, a P/E ratio of 20.08, a P/E/G ratio of 1.94 and a beta of 0.91. Canadian National Railway has a 1-year low of $98.69 and a 1-year high of $134.02. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.66 and a quick ratio of 0.48.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings results on Thursday, January 30th. The transportation company reported $1.30 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%. As a group, research analysts anticipate that Canadian National Railway will post 5.49 earnings per share for the current fiscal year.

Canadian National Railway Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a $0.6159 dividend. This represents a $2.46 dividend on an annualized basis and a dividend yield of 2.40%. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.61. The ex-dividend date is Monday, March 10th. Canadian National Railway’s payout ratio is 46.68%.

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.