Canadian National Railway (NYSE:CNI) Shares Sold by Patten & Patten Inc. TN

Patten & Patten Inc. TN trimmed its position in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 4.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 78,248 shares of the transportation company’s stock after selling 3,825 shares during the period. Patten & Patten Inc. TN’s holdings in Canadian National Railway were worth $7,943,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. Wellington Management Group LLP increased its holdings in Canadian National Railway by 4.4% in the 3rd quarter. Wellington Management Group LLP now owns 18,562,189 shares of the transportation company’s stock worth $2,175,935,000 after buying an additional 790,420 shares during the period. National Bank of Canada FI raised its holdings in shares of Canadian National Railway by 46.5% during the third quarter. National Bank of Canada FI now owns 6,737,322 shares of the transportation company’s stock worth $789,030,000 after purchasing an additional 2,137,948 shares during the last quarter. Fiera Capital Corp lifted its position in Canadian National Railway by 2.6% during the fourth 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 period. 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 during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Canadian National Railway by 5.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,962,972 shares of the transportation company’s stock valued at $464,002,000 after purchasing an additional 202,303 shares during the last quarter. 80.74% of the stock is owned by institutional investors and hedge funds.

Canadian National Railway Price Performance

NYSE:CNI opened at $97.70 on Friday. Canadian National Railway has a one year low of $93.64 and a one year high of $134.02. The stock has a market cap of $61.40 billion, a PE ratio of 19.08, a P/E/G ratio of 1.95 and a beta of 0.91. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.48 and a current ratio of 0.66. The stock has a 50 day moving average price of $101.77 and a 200 day moving average price of $107.90.

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 return on equity of 22.48% and a net margin of 26.09%. Equities research analysts expect that Canadian National Railway will post 5.52 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The firm 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 $0.6159 dividend. This represents a $2.46 annualized dividend and a yield of 2.52%. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.61. The ex-dividend date is Monday, March 10th. Canadian National Railway’s dividend payout ratio is presently 47.66%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CNI. Stifel Nicolaus upped their target price on Canadian National Railway from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Loop Capital lowered shares of Canadian National Railway from a “hold” rating to a “sell” rating in a research note on Monday, February 3rd. Wells Fargo & Company decreased their target price on 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. Evercore ISI raised shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a report on Thursday, December 19th. Finally, 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 report on Wednesday, January 8th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $124.19.

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.