Jennison Associates LLC Purchases 11,016 Shares of Canadian National Railway (NYSE:CNI)

Jennison Associates LLC increased its holdings in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 7.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 152,814 shares of the transportation company’s stock after purchasing an additional 11,016 shares during the quarter. Jennison Associates LLC’s holdings in Canadian National Railway were worth $15,512,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of CNI. Wellington Management Group LLP grew its position in shares of Canadian National Railway by 4.4% in the 3rd quarter. Wellington Management Group LLP now owns 18,562,189 shares of the transportation company’s stock worth $2,175,935,000 after buying an additional 790,420 shares during the last quarter. 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 worth $789,030,000 after acquiring an additional 2,137,948 shares during the period. Fiera Capital Corp boosted its holdings in Canadian National Railway by 0.7% in the third quarter. Fiera Capital Corp now owns 5,482,524 shares of the transportation company’s stock valued at $642,828,000 after acquiring an additional 39,063 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Canadian National Railway by 5.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,962,972 shares of the transportation company’s stock valued at $464,002,000 after acquiring an additional 202,303 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Canadian National Railway by 6.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,562,480 shares of the transportation company’s stock valued at $302,895,000 after purchasing an additional 158,757 shares during the period. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CNI. The Goldman Sachs Group dropped their target price on shares of Canadian National Railway from $131.00 to $124.00 and set a “sell” rating for the company in a research report on Wednesday, October 9th. Sanford C. Bernstein cut their price objective on Canadian National Railway from $130.67 to $126.29 and set a “market perform” rating on the stock in a research report on Wednesday, October 9th. JPMorgan Chase & Co. raised Canadian National Railway from a “neutral” rating to an “overweight” rating in a research report on Tuesday, January 7th. Susquehanna dropped their price target on Canadian National Railway from $125.00 to $115.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Finally, Evercore ISI upgraded Canadian National Railway from a “hold” rating to a “strong-buy” rating in a report on Thursday, December 19th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $124.19.

Canadian National Railway Price Performance

Shares of CNI opened at $103.96 on Thursday. Canadian National Railway has a twelve month low of $98.69 and a twelve month high of $134.02. The company has a market capitalization of $65.38 billion, a P/E ratio of 20.31, a price-to-earnings-growth ratio of 2.47 and a beta of 0.91. The firm has a 50 day moving average of $104.07 and a 200 day moving average of $110.50. The company has a quick ratio of 0.48, a current ratio of 0.66 and a debt-to-equity ratio of 0.94.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its earnings results on Thursday, January 30th. The transportation company reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.09). Canadian National Railway had a return on equity of 22.48% and a net margin of 26.09%. As a group, equities research analysts anticipate that Canadian National Railway will post 5.52 earnings per share for the current fiscal year.

Canadian National Railway Increases Dividend

The business also recently declared 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 represents a $2.46 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date is Monday, March 10th. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.61. Canadian National Railway’s dividend payout ratio (DPR) is presently 46.68%.

Canadian National Railway Profile

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.