Canadian National Railway (NYSE:CNI) Shares Purchased by Jennison Associates LLC

Jennison Associates LLC grew its holdings in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 40.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 115,739 shares of the transportation company’s stock after buying an additional 33,308 shares during the quarter. Jennison Associates LLC’s holdings in Canadian National Railway were worth $14,540,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Telemus Capital LLC acquired a new position in Canadian National Railway during the fourth quarter worth about $201,000. Duality Advisers LP purchased a new position in Canadian National Railway in the 4th quarter valued at approximately $1,565,000. OLD National Bancorp IN raised its holdings in Canadian National Railway by 8.2% during the fourth quarter. OLD National Bancorp IN now owns 2,600 shares of the transportation company’s stock worth $327,000 after purchasing an additional 196 shares during the last quarter. CWM LLC raised its holdings in Canadian National Railway by 25.0% during the fourth quarter. CWM LLC now owns 3,730 shares of the transportation company’s stock worth $469,000 after purchasing an additional 747 shares during the last quarter. Finally, Signaturefd LLC boosted its position in Canadian National Railway by 1.1% during the fourth quarter. Signaturefd LLC now owns 10,862 shares of the transportation company’s stock worth $1,365,000 after purchasing an additional 123 shares in the last quarter. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Benchmark reaffirmed a “hold” rating on shares of Canadian National Railway in a research note on Wednesday. Susquehanna lifted their price objective on Canadian National Railway from $140.00 to $142.00 and gave the stock a “neutral” rating in a research report on Wednesday. Stephens reaffirmed an “equal weight” rating and issued a $140.00 target price on shares of Canadian National Railway in a research note on Wednesday. Bank of America raised Canadian National Railway from a “neutral” rating to a “buy” rating and raised their price target for the stock from $140.00 to $145.00 in a research report on Wednesday, April 10th. Finally, Barclays increased their price objective on Canadian National Railway from $127.00 to $130.00 and gave the company an “equal weight” rating in a research note on Thursday, April 4th. Eighteen research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Canadian National Railway presently has an average rating of “Hold” and a consensus target price of $148.60.

Canadian National Railway Stock Performance

Shares of CNI stock opened at $124.78 on Friday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.47 and a current ratio of 0.60. The stock has a market capitalization of $79.70 billion, a price-to-earnings ratio of 19.90, a PEG ratio of 2.14 and a beta of 0.88. Canadian National Railway has a one year low of $103.96 and a one year high of $134.02. The company’s 50-day simple moving average is $129.58 and its 200-day simple moving average is $122.22.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its earnings results on Tuesday, January 23rd. The transportation company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.02. Canadian National Railway had a return on equity of 23.27% and a net margin of 32.81%. The company had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.25 billion. Equities analysts anticipate that Canadian National Railway will post 5.93 earnings per share for the current fiscal year.

Canadian National Railway Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be issued a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 2.00%. The ex-dividend date is Friday, June 7th. Canadian National Railway’s dividend payout ratio (DPR) is presently 39.71%.

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.