Jennison Associates LLC Trims Stock Holdings in Canadian National Railway Company (NYSE:CNI)

Jennison Associates LLC trimmed its holdings in shares of Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 6.3% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 143,213 shares of the transportation company's stock after selling 9,601 shares during the period. Jennison Associates LLC's holdings in Canadian National Railway were worth $13,958,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank bought a new position in shares of Canadian National Railway in the 4th quarter worth $563,048,000. Royal Bank of Canada lifted its holdings in shares of Canadian National Railway by 7.5% in the 4th quarter. Royal Bank of Canada now owns 27,757,038 shares of the transportation company's stock worth $2,817,616,000 after purchasing an additional 1,934,622 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Canadian National Railway by 33.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,489,874 shares of the transportation company's stock worth $557,278,000 after purchasing an additional 1,380,554 shares in the last quarter. Capital International Investors lifted its holdings in shares of Canadian National Railway by 12.8% in the 4th quarter. Capital International Investors now owns 11,822,063 shares of the transportation company's stock worth $1,199,680,000 after purchasing an additional 1,341,133 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Canadian National Railway by 29.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,814,469 shares of the transportation company's stock worth $488,488,000 after purchasing an additional 1,102,977 shares in the last quarter. 80.74% of the stock is currently owned by institutional investors.

Canadian National Railway Trading Up 0.9%

CNI stock traded up $0.89 during midday trading on Tuesday, hitting $100.44. The company had a trading volume of 2,469,839 shares, compared to its average volume of 1,345,315. The company has a current ratio of 0.62, a quick ratio of 0.43 and a debt-to-equity ratio of 0.88. Canadian National Railway Company has a 52 week low of $91.65 and a 52 week high of $122.19. The stock's 50 day moving average price is $104.62 and its 200 day moving average price is $101.67. The stock has a market cap of $62.92 billion, a price-to-earnings ratio of 19.58, a PEG ratio of 1.99 and a beta of 0.97.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last announced its quarterly earnings data on Tuesday, July 22nd. The transportation company reported $1.35 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.02). Canadian National Railway had a net margin of 26.19% and a return on equity of 22.29%. As a group, equities research analysts expect that Canadian National Railway Company will post 5.52 earnings per share for the current fiscal year.

Canadian National Railway Increases Dividend

The firm also recently announced a dividend, which was paid on Monday, June 30th. Stockholders of record on Tuesday, June 10th were paid a dividend of $0.8875 per share. The ex-dividend date of this dividend was Monday, June 9th. This is a boost from Canadian National Railway's previous dividend of $0.29. This represents a dividend yield of 2.47%. Canadian National Railway's payout ratio is 50.49%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on CNI shares. Evercore ISI cut their target price 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. Citigroup lowered their price target on Canadian National Railway from $124.00 to $123.00 and set a "buy" rating for the company in a research report on Wednesday, July 9th. Jefferies Financial Group lowered their price target on Canadian National Railway from $120.00 to $110.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Raymond James Financial raised Canadian National Railway from a "market perform" rating to an "outperform" rating in a research report on Thursday, July 17th. Finally, Barclays raised their target price on Canadian National Railway from $101.00 to $106.00 and gave the company an "equal weight" rating in a research report on Thursday, July 10th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $120.86.

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.