Canadian National Railway (NYSE:CNI) Shares Sold by Congress Asset Management Co.

Congress Asset Management Co. reduced its position in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 9.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 2,405 shares of the transportation company’s stock after selling 264 shares during the period. Congress Asset Management Co.’s holdings in Canadian National Railway were worth $244,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Fortitude Family Office LLC lifted its stake in Canadian National Railway by 738.7% in the third quarter. Fortitude Family Office LLC now owns 260 shares of the transportation company’s stock valued at $30,000 after buying an additional 229 shares during the last quarter. Arlington Trust Co LLC acquired a new position in shares of Canadian National Railway in the 4th quarter valued at $30,000. Coastline Trust Co purchased a new stake in Canadian National Railway in the 3rd quarter valued at $34,000. Thurston Springer Miller Herd & Titak Inc. boosted 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 worth $34,000 after purchasing an additional 108 shares during the period. Finally, Reston Wealth Management LLC purchased a new position in Canadian National Railway during the 3rd quarter worth $41,000. 80.74% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CNI. Royal Bank of Canada reduced their target price on shares of Canadian National Railway from $174.00 to $171.00 and set an “outperform” rating for the company in a report on Friday, January 31st. Veritas raised Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 23rd. Benchmark reiterated a “hold” rating on shares of Canadian National Railway in a research note on Thursday, October 24th. Wells Fargo & Company cut their price target on Canadian National Railway from $125.00 to $123.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Finally, Stifel Nicolaus lifted their price objective on shares of Canadian National Railway from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Two 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $124.19.

Canadian National Railway Price Performance

Shares of NYSE:CNI opened at $102.79 on Wednesday. Canadian National Railway has a 12 month low of $98.69 and a 12 month high of $134.02. The firm has a market capitalization of $64.64 billion, a price-to-earnings ratio of 20.08, a price-to-earnings-growth ratio of 1.94 and a beta of 0.91. The business’s 50 day simple moving average is $102.78 and its 200-day simple moving average is $109.63. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.66 and a quick ratio of 0.48.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its earnings results on Thursday, January 30th. The transportation company reported $1.30 earnings per share 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%. As a group, equities analysts forecast that Canadian National Railway will post 5.49 earnings per share for the current fiscal year.

Canadian National Railway Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a dividend of $0.6159 per share. This represents a $2.46 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date is Monday, March 10th. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.61. Canadian National Railway’s dividend payout ratio (DPR) is currently 46.68%.

About Canadian National Railway

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.