Bank of Montreal Can Sells 340,796 Shares of Canadian National Railway (NYSE:CNI)

Bank of Montreal Can lowered its stake in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 2.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 15,346,289 shares of the transportation company’s stock after selling 340,796 shares during the quarter. Canadian National Railway comprises approximately 0.7% of Bank of Montreal Can’s investment portfolio, making the stock its 24th biggest holding. Bank of Montreal Can owned 2.44% of Canadian National Railway worth $1,556,378,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CNI. Smith Moore & CO. boosted its position in shares of Canadian National Railway by 14.0% during the fourth quarter. Smith Moore & CO. now owns 3,266 shares of the transportation company’s stock worth $332,000 after buying an additional 400 shares during the period. Pitcairn Co. increased its holdings in shares of Canadian National Railway by 3.5% in the fourth quarter. Pitcairn Co. now owns 4,751 shares of the transportation company’s stock valued at $482,000 after purchasing an additional 159 shares during the last quarter. ExodusPoint Capital Management LP raised its holdings in Canadian National Railway by 966.0% in the 4th quarter. ExodusPoint Capital Management LP now owns 86,700 shares of the transportation company’s stock valued at $8,801,000 after acquiring an additional 78,567 shares during the period. Motley Fool Asset Management LLC lifted its holdings in Canadian National Railway by 6.2% during the 4th quarter. Motley Fool Asset Management LLC now owns 122,210 shares of the transportation company’s stock worth $12,406,000 after purchasing an additional 7,144 shares during the last quarter. Finally, RFG Bristol Wealth Advisors LLC bought a new position in Canadian National Railway during the 4th quarter worth $206,000. Institutional investors and hedge funds own 80.74% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Evercore ISI raised shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research report on Thursday, December 19th. Stifel Nicolaus increased their target price on shares of Canadian National Railway from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Jefferies Financial Group upgraded shares of Canadian National Railway from a “hold” rating to a “buy” rating and set a $120.00 price target for the company in a research report on Friday, January 10th. Susquehanna reduced their target price on Canadian National Railway from $115.00 to $113.00 and set a “neutral” rating on the stock in a report on Thursday, March 27th. Finally, Royal Bank of Canada cut their price target 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. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $123.36.

Canadian National Railway Stock Down 1.6 %

Canadian National Railway stock opened at $96.61 on Monday. Canadian National Railway has a 52-week low of $93.64 and a 52-week high of $132.27. The firm has a 50 day moving average price of $100.46 and a two-hundred day moving average price of $105.78. The firm has a market cap of $60.71 billion, a price-to-earnings ratio of 18.87, a PEG ratio of 1.95 and a beta of 0.93. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.48 and a current ratio of 0.66.

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 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 analysts predict that Canadian National Railway will post 5.52 EPS for the current year.

Canadian National Railway Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were issued a $0.6159 dividend. This represents a $2.46 dividend on an annualized basis and a yield of 2.55%. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend was Monday, March 10th. Canadian National Railway’s dividend payout ratio (DPR) 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.