Massachusetts Financial Services Co. MA Sells 162,770 Shares of Canadian National Railway Company $CNI

Massachusetts Financial Services Co. MA cut its position in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 1.4% in the third quarter, HoldingsChannel.com reports. The firm owned 11,660,891 shares of the transportation company’s stock after selling 162,770 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Canadian National Railway were worth $1,099,622,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of CNI. AQR Capital Management LLC bought a new position in shares of Canadian National Railway during the 1st quarter worth approximately $311,000. Focus Partners Wealth grew its holdings in Canadian National Railway by 11.1% in 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 last quarter. Parallel Advisors LLC grew its holdings in Canadian National Railway by 45.0% in the second quarter. Parallel Advisors LLC now owns 1,956 shares of the transportation company’s stock worth $204,000 after purchasing an additional 607 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its position in shares of 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 purchasing an additional 167 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Canadian National Railway by 1.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 19,226 shares of the transportation company’s stock valued at $1,999,000 after purchasing an additional 256 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CNI has been the topic of several research analyst reports. Evercore ISI boosted their target price on Canadian National Railway from $98.00 to $103.00 and gave the stock an “in-line” rating in a research note on Monday, November 3rd. Weiss Ratings restated a “hold (c-)” rating on shares of Canadian National Railway in a research note on Wednesday, October 8th. Wall Street Zen upgraded shares of Canadian National Railway from a “sell” rating to a “hold” rating in a report on Saturday, October 18th. Citigroup lowered their target price on shares of Canadian National Railway from $120.00 to $119.00 and set a “buy” rating for the company in a research note on Thursday, January 8th. Finally, Barclays boosted their target price on shares of Canadian National Railway from $97.00 to $101.00 and gave the stock an “equal weight” rating in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $117.64.

Canadian National Railway Price Performance

Shares of NYSE:CNI opened at $100.09 on Friday. The company has a current ratio of 0.60, a quick ratio of 0.42 and a debt-to-equity ratio of 0.92. Canadian National Railway Company has a twelve month low of $90.74 and a twelve month high of $108.75. The company’s 50 day moving average is $97.23 and its 200 day moving average is $96.57. The company has a market cap of $61.50 billion, a PE ratio of 18.99, a price-to-earnings-growth ratio of 2.09 and a beta of 0.96.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its earnings results on Friday, October 31st. The transportation company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm’s revenue was up 1.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.72 earnings per share. On average, sell-side analysts forecast that Canadian National Railway Company will post 5.52 EPS for the current year.

Canadian National Railway Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 9th were issued a $0.8875 dividend. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend was Tuesday, December 9th. This represents a $3.55 annualized dividend and a dividend yield of 3.5%. Canadian National Railway’s payout ratio is presently 48.01%.

About Canadian National Railway

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.