Wellington Management Group LLP Sells 1,085,291 Shares of Canadian National Railway (NYSE:CNI)

Wellington Management Group LLP trimmed its stake in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 5.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,476,898 shares of the transportation company’s stock after selling 1,085,291 shares during the period. Wellington Management Group LLP owned approximately 2.78% of Canadian National Railway worth $1,773,834,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Clearbridge Investments LLC lifted its holdings in shares of Canadian National Railway by 11.2% during the 4th quarter. Clearbridge Investments LLC now owns 1,281,715 shares of the transportation company’s stock valued at $130,107,000 after buying an additional 128,966 shares during the period. ClearBridge Investments Ltd grew its holdings in shares of Canadian National Railway by 73.2% in the fourth quarter. ClearBridge Investments Ltd now owns 804,212 shares of the transportation company’s stock worth $81,636,000 after acquiring an additional 339,774 shares during the period. Arrowstreet Capital Limited Partnership increased its position in Canadian National Railway by 29.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,814,469 shares of the transportation company’s stock valued at $488,488,000 after acquiring an additional 1,102,977 shares during the last quarter. Allianz SE bought a new position in Canadian National Railway in the fourth quarter valued at about $465,000. Finally, Brown Brothers Harriman & Co. boosted its position in Canadian National Railway by 55.6% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,553 shares of the transportation company’s stock worth $158,000 after purchasing an additional 555 shares during the last quarter. Institutional investors own 80.74% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CNI shares. Susquehanna reduced their price target on shares of Canadian National Railway from $115.00 to $113.00 and set a “neutral” rating for the company in a research report on Thursday. JPMorgan Chase & Co. raised shares of Canadian National Railway from a “neutral” rating to an “overweight” rating in a report on Tuesday, January 7th. Bank of America decreased their price target on shares of Canadian National Railway from $119.00 to $112.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. TD Securities raised shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 13th. Finally, Evercore ISI raised Canadian National Railway from a “hold” rating to a “strong-buy” rating in a report on Thursday, December 19th. 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 assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $124.02.

Canadian National Railway Stock Performance

NYSE CNI opened at $97.39 on Monday. The business has a 50-day moving average price of $101.07 and a 200-day moving average price of $106.51. The firm has a market cap of $61.20 billion, a price-to-earnings ratio of 19.02, a price-to-earnings-growth ratio of 1.95 and a beta of 0.91. Canadian National Railway has a twelve month low of $93.64 and a twelve month high of $132.27. The company has a quick ratio of 0.48, a current ratio of 0.66 and a debt-to-equity ratio of 0.94.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly 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 return on equity of 22.48% and a net margin of 26.09%. As a group, equities research analysts predict that Canadian National Railway will post 5.52 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be issued a $0.6159 dividend. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.61. This represents a $2.46 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date of this dividend is Monday, March 10th. Canadian National Railway’s payout ratio is currently 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.