Manning & Napier Advisors LLC Sells 818,521 Shares of Canadian National Railway Company $CNI

Manning & Napier Advisors LLC reduced its stake in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 99.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,582 shares of the transportation company’s stock after selling 818,521 shares during the period. Manning & Napier Advisors LLC’s holdings in Canadian National Railway were worth $149,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of CNI. AQR Capital Management LLC bought a new position in Canadian National Railway during the first quarter worth about $311,000. Focus Partners Wealth increased its holdings in shares of Canadian National Railway by 11.1% during the first quarter. Focus Partners Wealth now owns 11,514 shares of the transportation company’s stock worth $1,122,000 after purchasing an additional 1,146 shares during the period. Parallel Advisors LLC raised its position in shares of Canadian National Railway by 45.0% in the second quarter. Parallel Advisors LLC now owns 1,956 shares of the transportation company’s stock valued at $204,000 after buying an additional 607 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in Canadian National Railway by 42.7% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 558 shares of the transportation company’s stock valued at $58,000 after purchasing an additional 167 shares in the last quarter. Finally, Marshall Financial Group LLC raised its stake in Canadian National Railway by 3.1% in the second quarter. Marshall Financial Group LLC now owns 10,476 shares of the transportation company’s stock valued at $1,078,000 after purchasing an additional 319 shares in the last quarter. Institutional investors and hedge funds own 80.74% of the company’s stock.

Canadian National Railway Stock Up 1.6%

CNI stock opened at $99.23 on Friday. The stock’s 50 day simple moving average is $97.13 and its 200 day simple moving average is $96.65. The company has a market cap of $60.97 billion, a P/E ratio of 18.83, a price-to-earnings-growth ratio of 2.03 and a beta of 0.96. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.42 and a current ratio of 0.60. Canadian National Railway Company has a fifty-two week low of $90.74 and a fifty-two week high of $108.75.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings data on Friday, October 31st. The transportation company reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.05. The firm had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $4.15 billion. Canadian National Railway had a net margin of 26.86% and a return on equity of 21.50%. The business’s revenue was up 1.3% on a year-over-year basis. During the same period last year, the company earned $1.72 earnings per share. On average, research analysts expect that Canadian National Railway Company will post 5.52 earnings per share for the current fiscal year.

Canadian National Railway Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 9th were paid a $0.8875 dividend. This represents a $3.55 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Tuesday, December 9th. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.65. Canadian National Railway’s dividend payout ratio (DPR) is currently 48.01%.

Analyst Upgrades and Downgrades

Several research analysts have commented on CNI shares. Vertical Research upgraded shares of Canadian National Railway from a “hold” rating to a “buy” rating in a research report on Monday, January 5th. Royal Bank Of Canada boosted their price objective on Canadian National Railway from $148.00 to $158.00 and gave the stock an “outperform” rating in a research report on Monday, November 3rd. Cibc Captl Mkts upgraded Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 28th. Wells Fargo & Company reduced their price target on Canadian National Railway from $117.00 to $110.00 and set an “overweight” rating on the stock in a report on Monday, October 6th. Finally, Susquehanna lifted their target price on shares of Canadian National Railway from $115.00 to $116.00 and gave the stock a “positive” rating in a research report on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $117.64.

Canadian National Railway Company Profile

Canadian National Railway Company (NYSE: CNI) is a Class I freight railway that operates an integrated rail network across Canada and the United States. Headquartered in Montreal, Quebec, CN provides long-haul freight transportation and related logistics services that connect major ports, industrial centers and inland markets throughout North America. Its transcontinental system enables cross-border movement of goods and supports supply chains that span coast-to-coast in Canada and into the central and eastern United States.

CN’s core business is the railborne transportation of a broad mix of commodities, including intermodal container traffic, forest and paper products, grain and other agricultural products, metallurgical and industrial products, petroleum and chemical products, coal and automotive shipments.