Patten & Patten Inc. TN Has $6.55 Million Stock Position in Canadian National Railway Company $CNI

Patten & Patten Inc. TN decreased its position in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 6.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 66,294 shares of the transportation company’s stock after selling 4,762 shares during the period. Patten & Patten Inc. TN’s holdings in Canadian National Railway were worth $6,553,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. High Point Wealth Management LLC acquired a new position in shares of Canadian National Railway in the 4th quarter valued at $27,000. Hollencrest Capital Management acquired a new position in shares of Canadian National Railway in the 3rd quarter valued at $28,000. First Horizon Corp acquired a new position in shares of Canadian National Railway in the 3rd quarter valued at $30,000. Costello Asset Management INC grew its holdings in shares of Canadian National Railway by 83.3% in the 3rd quarter. Costello Asset Management INC now owns 330 shares of the transportation company’s stock valued at $31,000 after buying an additional 150 shares during the period. Finally, Steigerwald Gordon & Koch Inc. acquired a new position in shares of Canadian National Railway in the 3rd quarter valued at $50,000. Institutional investors and hedge funds own 80.74% of the company’s stock.

Canadian National Railway Trading Up 0.7%

CNI opened at $111.57 on Friday. The stock has a market capitalization of $67.92 billion, a P/E ratio of 20.29, a P/E/G ratio of 2.13 and a beta of 0.95. Canadian National Railway Company has a 12 month low of $90.74 and a 12 month high of $115.80. The firm’s fifty day simple moving average is $107.49 and its 200 day simple moving average is $101.72. The company has a current ratio of 0.67, a quick ratio of 0.49 and a debt-to-equity ratio of 0.95.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings data on Wednesday, April 29th. The transportation company reported $1.31 EPS for the quarter, meeting the consensus estimate of $1.31. The business had revenue of $3.15 billion for the quarter, compared to analysts’ expectations of $3.15 billion. Canadian National Railway had a net margin of 27.22% and a return on equity of 21.90%. The firm’s revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.85 EPS. As a group, research analysts anticipate that Canadian National Railway Company will post 5.74 EPS for the current fiscal year.

Canadian National Railway Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th will be issued a $0.915 dividend. The ex-dividend date is Tuesday, June 9th. This represents a $3.66 dividend on an annualized basis and a dividend yield of 3.3%. Canadian National Railway’s dividend payout ratio (DPR) is 48.73%.

Analysts Set New Price Targets

CNI has been the subject of several research analyst reports. UBS Group lowered shares of Canadian National Railway from a “strong-buy” rating to a “hold” rating in a report on Monday, February 2nd. Weiss Ratings reissued a “hold (c)” rating on shares of Canadian National Railway in a report on Monday, April 20th. BMO Capital Markets reissued an “outperform” rating on shares of Canadian National Railway in a report on Monday, February 2nd. Bank of America raised shares of Canadian National Railway from a “neutral” rating to a “buy” rating and boosted their price target for the company from $117.00 to $122.00 in a report on Thursday, April 9th. Finally, Royal Bank Of Canada boosted their price target on shares of Canadian National Railway from $160.00 to $178.00 and gave the company an “outperform” rating in a report on Thursday, April 30th. Nine analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $122.04.

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.