Canadian National Railway Company (NYSE:CNI) Shares Sold by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC trimmed its position in shares of Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 22.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 859,898 shares of the transportation company's stock after selling 249,276 shares during the quarter. Canadian National Railway makes up about 1.0% of Manning & Napier Advisors LLC's portfolio, making the stock its 29th biggest holding. Manning & Napier Advisors LLC owned 0.14% of Canadian National Railway worth $83,806,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Royal Bank of Canada increased its holdings in shares of Canadian National Railway by 7.5% during the 4th quarter. Royal Bank of Canada now owns 27,757,038 shares of the transportation company's stock valued at $2,817,616,000 after purchasing an additional 1,934,622 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Canadian National Railway by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 22,986,678 shares of the transportation company's stock valued at $2,334,251,000 after purchasing an additional 101,228 shares in the last quarter. Capital International Investors increased its holdings in shares of Canadian National Railway by 12.8% during the 4th quarter. Capital International Investors now owns 11,822,063 shares of the transportation company's stock valued at $1,199,680,000 after purchasing an additional 1,341,133 shares in the last quarter. TD Asset Management Inc. increased its holdings in shares of Canadian National Railway by 2.7% during the 4th quarter. TD Asset Management Inc. now owns 11,768,500 shares of the transportation company's stock valued at $1,194,443,000 after purchasing an additional 309,210 shares in the last quarter. Finally, JARISLOWSKY FRASER Ltd increased its holdings in shares of Canadian National Railway by 4.8% during the 4th quarter. JARISLOWSKY FRASER Ltd now owns 9,159,075 shares of the transportation company's stock valued at $926,573,000 after purchasing an additional 422,078 shares in the last quarter. 80.74% of the stock is owned by hedge funds and other institutional investors.

Canadian National Railway Price Performance

CNI traded up $0.41 on Monday, hitting $102.25. 1,385,562 shares of the company's stock were exchanged, compared to its average volume of 1,324,333. Canadian National Railway Company has a fifty-two week low of $91.65 and a fifty-two week high of $123.96. 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 firm has a 50-day moving average price of $102.48 and a 200-day moving average price of $101.55. The stock has a market cap of $64.20 billion, a price-to-earnings ratio of 19.93, a P/E/G ratio of 1.90 and a beta of 0.98.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last announced its earnings results on Thursday, May 1st. The transportation company reported $1.29 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts' expectations of $4.38 billion. During the same quarter in the previous year, the company posted $1.72 EPS. The firm's quarterly revenue was up 3.6% on a year-over-year basis. As a group, equities analysts anticipate that Canadian National Railway Company will post 5.52 earnings per share for the current year.

Canadian National Railway Increases Dividend

The firm also recently announced 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%. The ex-dividend date is Monday, June 9th. This is a boost from Canadian National Railway's previous dividend of $0.29. Canadian National Railway's payout ratio is 50.49%.

Analyst Upgrades and Downgrades

CNI has been the subject of several recent research reports. Evercore ISI cut their target price on shares of Canadian National Railway from $119.00 to $114.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Wall Street Zen raised shares of Canadian National Railway from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Barclays cut their price target on shares of Canadian National Railway from $104.00 to $101.00 and set an "equal weight" rating for the company in a report on Friday, May 2nd. Jefferies Financial Group cut their price target on shares of Canadian National Railway from $120.00 to $110.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Finally, Susquehanna raised shares of Canadian National Railway from a "neutral" rating to a "positive" rating and set a $120.00 price target for the company in a report on Tuesday, May 6th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, Canadian National Railway currently has an average rating of "Moderate Buy" and an average price target of $120.36.

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.