Canadian National Railway (NYSE:CNI) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System reduced its holdings in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 1.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,917 shares of the transportation company’s stock after selling 559 shares during the period. Maryland State Retirement & Pension System’s holdings in Canadian National Railway were worth $3,341,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. grew its stake in Canadian National Railway by 48.2% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 332 shares of the transportation company’s stock valued at $34,000 after purchasing an additional 108 shares during the last quarter. Crestwood Advisors Group LLC grew its stake in Canadian National Railway by 4.2% during the 4th quarter. Crestwood Advisors Group LLC now owns 2,814 shares of the transportation company’s stock valued at $286,000 after purchasing an additional 114 shares during the last quarter. Addison Advisors LLC grew its stake in Canadian National Railway by 80.2% during the 4th quarter. Addison Advisors LLC now owns 319 shares of the transportation company’s stock valued at $32,000 after purchasing an additional 142 shares during the last quarter. Banque Cantonale Vaudoise grew its stake in Canadian National Railway by 5.2% during the 3rd quarter. Banque Cantonale Vaudoise now owns 3,099 shares of the transportation company’s stock valued at $363,000 after purchasing an additional 152 shares during the last quarter. Finally, Harbour Investments Inc. grew its stake in Canadian National Railway by 5.0% during the 4th quarter. Harbour Investments Inc. now owns 3,302 shares of the transportation company’s stock valued at $335,000 after purchasing an additional 156 shares during the last quarter. 80.74% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CNI. Jefferies Financial Group upgraded Canadian National Railway from a “hold” rating to a “buy” rating and set a $120.00 price target on the stock in a research note on Friday, January 10th. 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 note on Wednesday, January 8th. JPMorgan Chase & Co. upgraded Canadian National Railway from a “neutral” rating to an “overweight” rating in a research note on Tuesday, January 7th. Evercore ISI upgraded Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Thursday, December 19th. Finally, Barclays lowered their target price on Canadian National Railway from $121.00 to $112.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, Canadian National Railway presently has an average rating of “Moderate Buy” and a consensus price target of $124.19.

Canadian National Railway Stock Performance

Shares of CNI stock opened at $97.70 on Friday. The company has a market capitalization of $61.39 billion, a P/E ratio of 19.08, a P/E/G ratio of 1.95 and a beta of 0.91. The business’s 50 day moving average is $101.34 and its two-hundred day moving average is $107.43. The company has a current ratio of 0.66, a quick ratio of 0.48 and a debt-to-equity ratio of 0.94. Canadian National Railway has a 12-month low of $93.64 and a 12-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 EPS 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%. Analysts expect that Canadian National Railway will post 5.52 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be issued a dividend of $0.6159 per share. The ex-dividend date is Monday, March 10th. This represents a $2.46 dividend on an annualized basis and a dividend yield of 2.52%. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.61. Canadian National Railway’s dividend payout ratio is presently 47.66%.

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.