Cullen Frost Bankers Inc. Acquires 2,877 Shares of Canadian National Railway (NYSE:CNI)

Cullen Frost Bankers Inc. raised its stake in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 52.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,332 shares of the transportation company’s stock after purchasing an additional 2,877 shares during the period. Cullen Frost Bankers Inc.’s holdings in Canadian National Railway were worth $1,047,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Lincoln National Corp grew its stake in shares of Canadian National Railway by 66.3% in the fourth quarter. Lincoln National Corp now owns 3,783 shares of the transportation company’s stock worth $475,000 after acquiring an additional 1,508 shares during the last quarter. Spire Wealth Management grew its stake in shares of Canadian National Railway by 7.2% in the fourth quarter. Spire Wealth Management now owns 4,932 shares of the transportation company’s stock worth $622,000 after acquiring an additional 330 shares during the last quarter. Metis Global Partners LLC grew its stake in shares of Canadian National Railway by 8.7% in the fourth quarter. Metis Global Partners LLC now owns 24,401 shares of the transportation company’s stock worth $3,067,000 after acquiring an additional 1,952 shares during the last quarter. NTV Asset Management LLC acquired a new stake in shares of Canadian National Railway in the fourth quarter worth $226,000. Finally, National Bank of Canada FI grew its stake in shares of Canadian National Railway by 5.1% in the fourth quarter. National Bank of Canada FI now owns 6,385,441 shares of the transportation company’s stock worth $800,750,000 after acquiring an additional 311,961 shares during the last quarter. Institutional investors and hedge funds own 80.74% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CNI. StockNews.com downgraded shares of Canadian National Railway from a “buy” rating to a “hold” rating in a research note on Friday. Wells Fargo & Company lifted their price target on shares of Canadian National Railway from $110.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 24th. Benchmark reiterated a “hold” rating on shares of Canadian National Railway in a research note on Wednesday, April 24th. Bank of America upgraded shares of Canadian National Railway from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $140.00 to $145.00 in a research note on Wednesday, April 10th. Finally, Stifel Nicolaus lifted their price target on shares of Canadian National Railway from $121.00 to $134.00 and gave the stock a “hold” rating in a research note on Friday, April 12th. Eighteen analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $149.05.

Canadian National Railway Stock Performance

Shares of NYSE:CNI opened at $127.25 on Friday. The company has a current ratio of 0.60, a quick ratio of 0.46 and a debt-to-equity ratio of 0.84. Canadian National Railway has a 1-year low of $103.96 and a 1-year high of $134.02. The stock has a market capitalization of $81.27 billion, a P/E ratio of 20.30, a P/E/G ratio of 2.21 and a beta of 0.89. The business has a 50-day moving average price of $128.42 and a two-hundred day moving average price of $123.34.

Canadian National Railway Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be paid a $0.625 dividend. The ex-dividend date is Friday, June 7th. This represents a $2.50 dividend on an annualized basis and a yield of 1.96%. Canadian National Railway’s payout ratio 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.