Manning & Napier Advisors LLC Has $83.81 Million Holdings in Canadian National Railway Company (NYSE:CNI)

Manning & Napier Advisors LLC lowered its position in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 22.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 859,898 shares of the transportation company's stock after selling 249,276 shares during the period. Canadian National Railway accounts for 1.0% of Manning & Napier Advisors LLC's portfolio, making the stock its 29th largest holding. Manning & Napier Advisors LLC owned about 0.14% of Canadian National Railway worth $83,806,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Shell Asset Management Co. raised its stake in shares of Canadian National Railway by 0.5% in the fourth quarter. Shell Asset Management Co. now owns 21,387 shares of the transportation company's stock valued at $2,171,000 after acquiring an additional 100 shares during the last quarter. Bruce G. Allen Investments LLC raised its stake in shares of Canadian National Railway by 44.2% in the first quarter. Bruce G. Allen Investments LLC now owns 346 shares of the transportation company's stock valued at $34,000 after acquiring an additional 106 shares during the last quarter. Voya Investment Management LLC raised its position in Canadian National Railway by 1.4% in the 4th quarter. Voya Investment Management LLC now owns 7,953 shares of the transportation company's stock worth $807,000 after purchasing an additional 112 shares during the last quarter. Gradient Investments LLC raised its position in Canadian National Railway by 2.1% in the 1st quarter. Gradient Investments LLC now owns 5,409 shares of the transportation company's stock worth $527,000 after purchasing an additional 112 shares during the last quarter. Finally, Crestwood Advisors Group LLC raised its position in Canadian National Railway by 4.2% in the 4th quarter. Crestwood Advisors Group LLC now owns 2,814 shares of the transportation company's stock worth $286,000 after purchasing an additional 114 shares during the last quarter. Institutional investors own 80.74% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Susquehanna boosted their price objective on shares of Canadian National Railway from $120.00 to $122.00 and gave the stock a "positive" rating in a research report on Tuesday. Raymond James Financial cut shares of Canadian National Railway from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 22nd. Bank of America boosted their price objective on shares of Canadian National Railway from $105.00 to $115.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Stifel Nicolaus dropped their price objective on shares of Canadian National Railway from $125.00 to $115.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Finally, Royal Bank Of Canada restated an "outperform" rating and issued a $163.00 price objective on shares of Canadian National Railway in a research report on Thursday, June 5th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $120.52.

Canadian National Railway Trading Down 0.6%

Shares of CNI stock traded down $0.57 on Wednesday, hitting $101.55. The stock had a trading volume of 1,359,471 shares, compared to its average volume of 1,323,293. Canadian National Railway Company has a twelve month low of $91.65 and a twelve month high of $123.96. The firm has a market cap of $63.76 billion, a P/E ratio of 19.80, a PEG ratio of 1.91 and a beta of 0.98. The company has a current ratio of 0.62, a quick ratio of 0.43 and a debt-to-equity ratio of 0.88. The company has a fifty day moving average price of $102.59 and a two-hundred day moving average price of $101.52.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last announced its quarterly earnings results on Thursday, May 1st. The transportation company reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.03. Canadian National Railway had a net margin of 26.19% and a return on equity of 22.29%. The company had revenue of $3.06 billion during the quarter, compared to analyst estimates of $4.38 billion. During the same quarter in the previous year, the business earned $1.72 EPS. The firm's revenue was up 3.6% on a year-over-year basis. As a group, analysts forecast that Canadian National Railway Company will post 5.52 earnings per share 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. Stockholders of record on Tuesday, June 10th will be issued a $0.8875 dividend. This is a positive change from Canadian National Railway's previous dividend of $0.29. The ex-dividend date of this dividend is Monday, June 9th. This represents a dividend yield of 2.47%. Canadian National Railway's payout ratio is 50.49%.

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.