Massachusetts Financial Services Co. MA Purchases 24,202 Shares of Canadian National Railway Company (NYSE:CNI)

Massachusetts Financial Services Co. MA raised its stake in shares of Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 0.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,121,917 shares of the transportation company's stock after buying an additional 24,202 shares during the period. Massachusetts Financial Services Co. MA owned 1.93% of Canadian National Railway worth $1,181,402,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of CNI. Shell Asset Management Co. grew its position 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 purchasing an additional 100 shares during the last quarter. Bruce G. Allen Investments LLC grew its position 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 purchasing an additional 106 shares during the last quarter. Voya Investment Management LLC grew its position in shares of Canadian National Railway by 1.4% in the fourth quarter. Voya Investment Management LLC now owns 7,953 shares of the transportation company's stock valued at $807,000 after purchasing an additional 112 shares during the last quarter. Gradient Investments LLC grew its position in shares of Canadian National Railway by 2.1% in the first quarter. Gradient Investments LLC now owns 5,409 shares of the transportation company's stock valued at $527,000 after purchasing an additional 112 shares during the last quarter. Finally, Lowe Brockenbrough & Co. Inc. grew its position in shares of Canadian National Railway by 1.2% in the fourth quarter. Lowe Brockenbrough & Co. Inc. now owns 11,492 shares of the transportation company's stock valued at $1,167,000 after purchasing an additional 139 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors.

Canadian National Railway Price Performance

NYSE CNI traded down $0.52 during trading on Thursday, reaching $102.36. 700,392 shares of the company traded hands, compared to its average volume of 1,322,628. 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 stock's 50 day moving average price is $104.63 and its two-hundred day moving average price is $101.67. The company has a market cap of $64.13 billion, a price-to-earnings ratio of 19.96, a P/E/G ratio of 2.07 and a beta of 0.97. Canadian National Railway Company has a 1-year low of $91.65 and a 1-year high of $123.50.

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 (EPS) for the quarter, beating 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 analysts' expectations of $4.38 billion. During the same quarter in the previous year, the company posted $1.72 earnings per share. Canadian National Railway's quarterly revenue was up 3.6% compared to the same quarter last year. As a group, analysts anticipate that Canadian National Railway Company will post 5.52 EPS for the current year.

Canadian National Railway Increases Dividend

The company also recently announced a dividend, which was paid on Monday, June 30th. Stockholders of record on Tuesday, June 10th were paid a $0.8875 dividend. The ex-dividend date of this dividend was Monday, June 9th. This represents a dividend yield of 2.47%. 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

Several equities research analysts have recently issued reports on the company. Stifel Nicolaus lowered their price target on Canadian National Railway from $125.00 to $115.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Argus raised Canadian National Railway to a "hold" rating in a research report on Friday, June 27th. Raymond James Financial raised Canadian National Railway from a "market perform" rating to an "outperform" rating in a research report on Thursday. Citigroup decreased their target price on Canadian National Railway from $124.00 to $123.00 and set a "buy" rating on the stock in a research report on Wednesday, July 9th. Finally, Evercore ISI decreased their target price on 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 investment analysts have rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $120.86.

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.