Canadian National Railway Company $CNI Position Cut by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA decreased its position in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 2.5% in the 2nd quarter, Holdings Channel.com reports. The firm owned 11,823,661 shares of the transportation company’s stock after selling 298,256 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Canadian National Railway were worth $1,230,134,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of CNI. Addison Advisors LLC lifted its stake in shares of Canadian National Railway by 124.0% in the 2nd quarter. Addison Advisors LLC now owns 271 shares of the transportation company’s stock worth $28,000 after acquiring an additional 150 shares during the period. Dagco Inc. acquired a new stake in shares of Canadian National Railway in the first quarter valued at $32,000. Curio Wealth LLC boosted its stake in Canadian National Railway by 31,600.0% during the second quarter. Curio Wealth LLC now owns 317 shares of the transportation company’s stock valued at $33,000 after buying an additional 316 shares in the last quarter. Brooklyn Investment Group grew its holdings in Canadian National Railway by 354.3% during the first quarter. Brooklyn Investment Group now owns 427 shares of the transportation company’s stock worth $42,000 after acquiring an additional 333 shares during the period. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in Canadian National Railway by 42.7% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 558 shares of the transportation company’s stock worth $58,000 after acquiring an additional 167 shares during the period. Institutional investors and hedge funds own 80.74% of the company’s stock.

Canadian National Railway Price Performance

Shares of NYSE:CNI opened at $96.13 on Friday. Canadian National Railway Company has a 1 year low of $91.07 and a 1 year high of $112.97. The business has a fifty day simple moving average of $94.87 and a 200 day simple moving average of $98.56. The company has a current ratio of 0.82, a quick ratio of 0.58 and a debt-to-equity ratio of 0.90. The firm has a market cap of $59.26 billion, a price-to-earnings ratio of 18.49, a P/E/G ratio of 2.13 and a beta of 0.95.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings results on Friday, October 31st. The transportation company reported $1.33 EPS for the quarter, beating the consensus estimate of $1.28 by $0.05. The business had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $4.15 billion. Canadian National Railway had a return on equity of 21.71% and a net margin of 26.63%.The firm’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.72 EPS. As a group, sell-side analysts predict that Canadian National Railway Company will post 5.52 earnings per share for the current fiscal year.

Canadian National Railway Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 9th will be issued a dividend of $0.8875 per share. This represents a $3.55 annualized dividend and a yield of 3.7%. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.65. The ex-dividend date is Tuesday, December 9th. Canadian National Railway’s dividend payout ratio is 48.01%.

Wall Street Analysts Forecast Growth

CNI has been the subject of several research reports. National Bank Financial lowered shares of Canadian National Railway from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, July 23rd. Wall Street Zen upgraded shares of Canadian National Railway from a “sell” rating to a “hold” rating in a research report on Saturday, October 18th. Bank of America cut their price objective on Canadian National Railway from $106.00 to $102.00 and set a “neutral” rating for the company in a research report on Monday, September 29th. Barclays decreased their target price on Canadian National Railway from $99.00 to $97.00 and set an “equal weight” rating on the stock in a report on Thursday, October 2nd. Finally, Royal Bank Of Canada increased their price target on Canadian National Railway from $148.00 to $158.00 and gave the company an “outperform” rating in a research report on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $114.00.

Canadian National Railway Company 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.