Patten Group Inc. Lowers Stake in Canadian National Railway (NYSE:CNI)

Patten Group Inc. cut its stake in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 5.1% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 11,046 shares of the transportation company’s stock after selling 598 shares during the period. Patten Group Inc.’s holdings in Canadian National Railway were worth $1,121,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CNI. Wellington Management Group LLP raised its position in shares of Canadian National Railway by 4.4% in the third 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. National Bank of Canada FI increased its stake in Canadian National Railway by 46.5% during the 3rd quarter. National Bank of Canada FI now owns 6,737,322 shares of the transportation company’s stock worth $789,030,000 after buying an additional 2,137,948 shares during the period. Fiera Capital Corp increased its position in shares of Canadian National Railway by 2.6% in the 4th quarter. Fiera Capital Corp now owns 5,624,594 shares of the transportation company’s stock valued at $570,550,000 after purchasing an additional 142,070 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in Canadian National Railway by 12.6% in the fourth quarter. CIBC Asset Management Inc now owns 5,119,674 shares of the transportation company’s stock valued at $519,843,000 after purchasing an additional 571,967 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Canadian National Railway by 5.4% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,962,972 shares of the transportation company’s stock worth $464,002,000 after purchasing an additional 202,303 shares during the last quarter. 80.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CNI. Wells Fargo & Company lowered their price objective on shares of Canadian National Railway from $125.00 to $123.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. Royal Bank of Canada cut their price target on Canadian National Railway from $174.00 to $171.00 and set an “outperform” rating for the company in a research note on Friday, January 31st. Bank of America decreased their price objective on shares of 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. Citigroup upgraded shares of Canadian National Railway from a “neutral” rating to a “buy” rating and raised their target price for the company from $126.00 to $130.00 in a report on Tuesday, November 12th. Finally, Barclays reduced their price target on shares of Canadian National Railway from $121.00 to $112.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $124.19.

Canadian National Railway Price Performance

Shares of NYSE:CNI opened at $98.28 on Tuesday. The business has a fifty day simple moving average of $102.45 and a 200-day simple moving average of $108.94. Canadian National Railway has a 52 week low of $98.18 and a 52 week high of $134.02. The company has a market cap of $61.75 billion, a P/E ratio of 19.20, a P/E/G 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.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings results on Thursday, January 30th. The transportation company reported $1.30 EPS for the quarter, missing the consensus estimate of $1.39 by ($0.09). Canadian National Railway had a net margin of 26.09% and a return on equity of 22.48%. Equities research analysts forecast that Canadian National Railway will post 5.52 EPS for the current 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 paid a dividend of $0.6159 per share. The ex-dividend date is Monday, March 10th. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.61. This represents a $2.46 annualized dividend and a dividend yield of 2.51%. Canadian National Railway’s payout ratio is currently 47.66%.

Canadian National Railway Company 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.