Massachusetts Financial Services Co. MA Sells 1,076,172 Shares of Canadian National Railway Company $CNI

Massachusetts Financial Services Co. MA trimmed its position in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 9.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 10,584,719 shares of the transportation company’s stock after selling 1,076,172 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Canadian National Railway were worth $1,046,299,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. AQR Capital Management LLC acquired a new position in Canadian National Railway during the first quarter worth $311,000. Focus Partners Wealth grew 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 valued at $1,122,000 after buying an additional 1,146 shares during the last quarter. Schnieders Capital Management LLC. acquired a new position in shares of Canadian National Railway during the second quarter valued at about $202,000. EverSource Wealth Advisors LLC increased its position in shares of Canadian National Railway by 52.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,118 shares of the transportation company’s stock worth $116,000 after acquiring an additional 383 shares in the last quarter. Finally, Baird Financial Group Inc. raised its holdings in shares of Canadian National Railway by 2.9% in the 2nd quarter. Baird Financial Group Inc. now owns 17,094 shares of the transportation company’s stock worth $1,778,000 after acquiring an additional 474 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Bank of America raised shares of Canadian National Railway from a “neutral” rating to a “buy” rating and raised their price target for the company from $117.00 to $122.00 in a research report on Thursday. Vertical Research raised Canadian National Railway from a “hold” rating to a “buy” rating in a research note on Monday, January 5th. UBS Group lowered Canadian National Railway from a “strong-buy” rating to a “hold” rating in a report on Monday, February 2nd. Barclays lifted their target price on Canadian National Railway from $97.00 to $98.00 and gave the company an “equal weight” rating in a research report on Friday, March 27th. Finally, Sanford C. Bernstein increased their price target on Canadian National Railway from $113.88 to $117.36 and gave the company a “market perform” rating in a research report on Tuesday, March 31st. Ten analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $118.76.

Canadian National Railway Stock Down 0.0%

Canadian National Railway stock opened at $110.09 on Friday. Canadian National Railway Company has a fifty-two week low of $90.74 and a fifty-two week high of $113.08. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.47 and a current ratio of 0.67. The firm’s 50-day simple moving average is $105.36 and its 200 day simple moving average is $99.66. The stock has a market cap of $67.29 billion, a PE ratio of 20.27, a price-to-earnings-growth ratio of 2.30 and a beta of 0.91.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its earnings results on Friday, January 30th. The transportation company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.43 by $0.06. Canadian National Railway had a net margin of 27.28% and a return on equity of 22.14%. The firm had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $4.43 billion. During the same quarter last year, the firm earned $1.82 EPS. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. Research analysts predict that Canadian National Railway Company will post 5.52 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 10th were issued a dividend of $0.915 per share. This represents a $3.66 dividend on an annualized basis and a yield of 3.3%. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.89. The ex-dividend date was Tuesday, March 10th. Canadian National Railway’s dividend payout ratio is 49.36%.

Canadian National Railway 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.