Carret Asset Management LLC Lowers Stock Position in Canadian National Railway Company (NYSE:CNI)

Carret Asset Management LLC reduced its position in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 32.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,500 shares of the transportation company's stock after selling 6,566 shares during the quarter. Carret Asset Management LLC's holdings in Canadian National Railway were worth $1,316,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Canadian National Railway in the fourth quarter valued at $563,048,000. Royal Bank of Canada grew its holdings in 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 buying an additional 1,934,622 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Canadian National Railway by 33.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,489,874 shares of the transportation company's stock valued at $557,278,000 after buying an additional 1,380,554 shares during the period. Capital International Investors lifted its holdings in shares of Canadian National Railway by 12.8% in the fourth quarter. Capital International Investors now owns 11,822,063 shares of the transportation company's stock worth $1,199,680,000 after buying an additional 1,341,133 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of Canadian National Railway by 29.7% in 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 period. 80.74% of the stock is currently owned by institutional investors.

Canadian National Railway Trading Down 0.1%

Shares of NYSE CNI traded down $0.14 during mid-day trading on Tuesday, hitting $102.14. The stock had a trading volume of 1,073,032 shares, compared to its average volume of 1,323,333. The business has a 50 day moving average price of $102.52 and a two-hundred day moving average price of $101.52. Canadian National Railway Company has a 1 year low of $91.65 and a 1 year high of $123.96. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.43 and a current ratio of 0.62. The firm has a market cap of $64.13 billion, a P/E ratio of 19.91, a price-to-earnings-growth ratio of 1.90 and a beta of 0.98.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last posted its earnings results on Thursday, May 1st. The transportation company reported $1.29 earnings per share for the quarter, topping analysts' consensus estimates 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 period in the prior year, the business posted $1.72 earnings per share. Canadian National Railway's revenue for the quarter was up 3.6% on a year-over-year basis. On average, equities analysts anticipate that Canadian National Railway Company will post 5.52 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The firm also recently announced a dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 10th will be issued a dividend of $0.8875 per share. This represents a dividend yield of 2.47%. The ex-dividend date is Monday, June 9th. This is an increase from Canadian National Railway's previous dividend of $0.29. Canadian National Railway's dividend payout ratio is currently 50.49%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Stephens raised their price target on shares of Canadian National Railway from $105.00 to $109.00 and gave the company an "equal weight" rating in a report on Friday, May 2nd. Barclays reduced 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. Jefferies Financial Group lowered their price target on Canadian National Railway from $120.00 to $110.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Susquehanna boosted their price objective on Canadian National Railway from $120.00 to $122.00 and gave the stock a "positive" rating in a report on Tuesday. Finally, Evercore ISI decreased their price objective on shares of Canadian National Railway from $119.00 to $114.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, Canadian National Railway has a consensus rating of "Moderate Buy" and an average target price of $120.52.

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.