Addenda Capital Inc. Reduces Holdings in Canadian National Railway (NYSE:CNI)

Addenda Capital Inc. reduced its holdings in shares of Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR by 5.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 430,968 shares of the transportation company's stock after selling 24,233 shares during the period. Canadian National Railway accounts for approximately 2.0% of Addenda Capital Inc.'s investment portfolio, making the stock its 14th biggest holding. Addenda Capital Inc. owned approximately 0.07% of Canadian National Railway worth $42,002,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Quintet Private Bank Europe S.A. purchased a new stake in shares of Canadian National Railway during the 4th quarter worth approximately $25,000. Arlington Trust Co LLC bought a new stake in shares of Canadian National Railway during the 4th quarter worth $30,000. Lee Danner & Bass Inc. bought a new stake in Canadian National Railway in the fourth quarter valued at approximately $30,000. Addison Advisors LLC lifted its position in Canadian National Railway by 80.2% in the fourth quarter. Addison Advisors LLC now owns 319 shares of the transportation company's stock valued at $32,000 after purchasing an additional 142 shares during the last quarter. Finally, Murphy & Mullick Capital Management Corp bought a new position in shares of Canadian National Railway during the fourth quarter valued at approximately $52,000. Institutional investors own 80.74% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CNI. Evercore ISI lowered their price target on Canadian National Railway from $119.00 to $114.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Jefferies Financial Group lowered their price objective on Canadian National Railway from $120.00 to $110.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Barclays decreased their target price on Canadian National Railway from $104.00 to $101.00 and set an "equal weight" rating for the company in a research report on Friday, May 2nd. Royal Bank of Canada reiterated an "outperform" rating and issued a $163.00 price target on shares of Canadian National Railway in a report on Thursday. Finally, Bank of America lifted their price target on Canadian National Railway from $105.00 to $115.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $119.52.

Canadian National Railway Price Performance

NYSE:CNI traded up $0.14 during trading hours on Thursday, hitting $106.23. 401,899 shares of the stock were exchanged, compared to its average volume of 1,326,234. Canadian National Railway has a 52-week low of $91.65 and a 52-week high of $126.78. The firm's fifty day moving average price is $100.82 and its 200 day moving average price is $102.16. The company has a current ratio of 0.66, a quick ratio of 0.48 and a debt-to-equity ratio of 0.94. The company has a market cap of $66.77 billion, a P/E ratio of 20.75, a P/E/G ratio of 1.95 and a beta of 0.98.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last issued its quarterly earnings data on Thursday, May 1st. The transportation company reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.03. The company had revenue of $3.06 billion during the quarter, compared to analyst estimates of $4.38 billion. Canadian National Railway had a return on equity of 22.48% and a net margin of 26.09%. The firm's revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.72 earnings per share. As a group, equities research analysts anticipate that Canadian National Railway will post 5.52 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The company also recently declared a dividend, which will be paid on Monday, June 30th. Shareholders of record on Tuesday, June 10th will be paid a dividend of $0.8875 per share. This represents a yield of 2.47%. This is a boost from Canadian National Railway's previous dividend of $0.29. The ex-dividend date of this dividend is Monday, June 9th. Canadian National Railway's dividend payout ratio is 50.29%.

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.