Dividend Assets Capital LLC Sells 431 Shares of Canadian National Railway (NYSE:CNI)

Dividend Assets Capital LLC trimmed its stake in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 2.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,860 shares of the transportation company’s stock after selling 431 shares during the quarter. Dividend Assets Capital LLC’s holdings in Canadian National Railway were worth $1,711,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. National Bank of Canada FI lifted its stake in Canadian National Railway by 46.5% in the third quarter. National Bank of Canada FI now owns 6,737,322 shares of the transportation company’s stock valued at $789,030,000 after purchasing an additional 2,137,948 shares during the last quarter. Canoe Financial LP bought a new stake in shares of Canadian National Railway in the fourth quarter valued at $216,943,000. Point72 Asset Management L.P. bought a new stake in shares of Canadian National Railway in the third quarter valued at $159,907,000. Wellington Management Group LLP lifted its position in shares of Canadian National Railway by 4.4% during the 3rd quarter. Wellington Management Group LLP now owns 18,562,189 shares of the transportation company’s stock valued at $2,175,935,000 after buying an additional 790,420 shares during the last quarter. Finally, Toronto Dominion Bank grew its stake in shares of Canadian National Railway by 64.5% during the 3rd quarter. Toronto Dominion Bank now owns 1,492,218 shares of the transportation company’s stock worth $174,813,000 after acquiring an additional 584,832 shares during the period. 80.74% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CNI has been the topic of a number of research reports. TD Securities upgraded Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 13th. Royal Bank of Canada lowered their price target on shares of Canadian National Railway from $174.00 to $171.00 and set an “outperform” rating on the stock in a research report on Friday, January 31st. JPMorgan Chase & Co. raised shares of Canadian National Railway from a “neutral” rating to an “overweight” rating in a report on Tuesday, January 7th. Stifel Nicolaus lifted their price objective on shares of Canadian National Railway from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Finally, Bank of America dropped their target price on Canadian National Railway from $119.00 to $112.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $124.19.

Canadian National Railway Stock Performance

NYSE:CNI opened at $103.98 on Friday. The stock has a market cap of $65.33 billion, a P/E ratio of 20.31, a PEG ratio of 1.95 and a beta of 0.91. The company has a quick ratio of 0.48, a current ratio of 0.66 and a debt-to-equity ratio of 0.94. The business’s 50-day moving average price is $102.64 and its two-hundred day moving average price is $109.42. Canadian National Railway has a twelve month low of $98.69 and a twelve month high of $134.02.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its earnings results on Thursday, January 30th. The transportation company reported $1.30 earnings per share for the quarter, missing analysts’ consensus estimates 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, equities analysts predict that Canadian National Railway will post 5.52 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a dividend of $0.6159 per share. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.61. This represents a $2.46 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date is Monday, March 10th. Canadian National Railway’s payout ratio is currently 46.68%.

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.