Congress Wealth Management LLC DE Lowers Stock Holdings in Canadian National Railway (NYSE:CNI)

Congress Wealth Management LLC DE lowered its position in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 21.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,970 shares of the transportation company’s stock after selling 1,937 shares during the period. Congress Wealth Management LLC DE’s holdings in Canadian National Railway were worth $708,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CNI. Vanguard Group Inc. boosted its stake in shares of Canadian National Railway by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 22,986,678 shares of the transportation company’s stock valued at $2,334,251,000 after purchasing an additional 101,228 shares in the last quarter. Guardian Partners Inc. bought a new stake in Canadian National Railway in the fourth quarter worth $23,468,000. Hillsdale Investment Management Inc. boosted its position in Canadian National Railway by 219.1% during the fourth quarter. Hillsdale Investment Management Inc. now owns 57,717 shares of the transportation company’s stock valued at $5,854,000 after buying an additional 39,627 shares during the period. Sei Investments Co. grew its stake in shares of Canadian National Railway by 2.0% during the fourth quarter. Sei Investments Co. now owns 375,801 shares of the transportation company’s stock valued at $38,148,000 after buying an additional 7,461 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of Canadian National Railway by 6.7% in the fourth quarter. American Century Companies Inc. now owns 147,878 shares of the transportation company’s stock worth $15,017,000 after buying an additional 9,340 shares during the period. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Canadian National Railway Stock Performance

Canadian National Railway stock opened at $97.39 on Friday. Canadian National Railway has a fifty-two week low of $93.64 and a fifty-two week high of $132.27. The stock’s 50 day simple moving average is $101.07 and its two-hundred day simple moving average is $106.64. 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 stock 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 (NYSE:CNI) (TSE:CNR) last released its quarterly earnings results on Thursday, January 30th. The transportation company reported $1.30 earnings per share 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, analysts expect that Canadian National Railway will post 5.52 earnings per share for the current fiscal 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 $0.6159 dividend. This represents a $2.46 annualized dividend and a dividend yield of 2.53%. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.61. The ex-dividend date is Monday, March 10th. Canadian National Railway’s dividend payout ratio (DPR) is presently 47.66%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CNI shares. TD Securities upgraded Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 13th. JPMorgan Chase & Co. upgraded shares of Canadian National Railway from a “neutral” rating to an “overweight” rating in a report on Tuesday, January 7th. Stifel Nicolaus upped their price target on shares of Canadian National Railway from $120.00 to $125.00 and gave the company a “buy” rating in a report on Friday, January 31st. Bank of America dropped their price target on shares of 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. Finally, Evercore ISI upgraded shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research report on Thursday, December 19th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $124.02.

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.