Motley Fool Asset Management LLC Has $5.52 Million Stock Position in Canadian National Railway Company (NYSE:CNI)

Key Points

• Motley Fool Asset Management LLC has reduced its stake in Canadian National Railway Company (CNI) by 53.6%, selling 65,527 shares and now holding 56,683 shares valued at approximately $5.5 million.
• Despite the stake reduction by some investors, several other hedge funds have increased their holdings in CNI, reflecting a mixed sentiment among institutional investors.
• Canadian National Railway recently declared a quarterly dividend of $0.6507 per share, marking an increase from its previous dividend, with a current annual yield of 2.8%.

Motley Fool Asset Management LLC cut its stake in shares of Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 53.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 56,683 shares of the transportation company's stock after selling 65,527 shares during the period. Motley Fool Asset Management LLC's holdings in Canadian National Railway were worth $5,524,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Royal Bank of Canada raised its position in shares of Canadian National Railway by 7.5% during the fourth 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 during the period. Vanguard Group Inc. raised its position in shares of Canadian National Railway by 0.8% during the first quarter. Vanguard Group Inc. now owns 23,165,939 shares of the transportation company's stock worth $2,254,370,000 after purchasing an additional 179,261 shares during the period. Capital International Investors raised its position in shares of Canadian National Railway by 12.8% during the fourth 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 during the period. TD Asset Management Inc raised its position in Canadian National Railway by 0.3% during the first quarter. TD Asset Management Inc now owns 11,798,566 shares of the transportation company's stock valued at $1,148,008,000 after buying an additional 30,066 shares during the period. Finally, JARISLOWSKY FRASER Ltd raised its position in Canadian National Railway by 4.8% during the fourth quarter. JARISLOWSKY FRASER Ltd now owns 9,159,075 shares of the transportation company's stock valued at $926,573,000 after buying an additional 422,078 shares during the period. 80.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Susquehanna dropped their price target on Canadian National Railway from $122.00 to $120.00 and set a "positive" rating on the stock in a research report on Wednesday, July 23rd. Barclays dropped their price target on Canadian National Railway from $106.00 to $99.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 23rd. Wells Fargo & Company dropped their price target on Canadian National Railway from $120.00 to $117.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 23rd. National Bank Financial lowered Canadian National Railway from an "outperform" rating to a "sector perform" rating in a research report on Wednesday, July 23rd. Finally, Citigroup lowered their target price on Canadian National Railway from $124.00 to $123.00 and set a "buy" rating on the stock in a research note on Wednesday, July 9th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $118.36.

Canadian National Railway Price Performance

Shares of CNI traded up $0.58 during mid-day trading on Friday, reaching $93.34. The company had a trading volume of 453,349 shares, compared to its average volume of 1,495,268. Canadian National Railway Company has a twelve month low of $91.65 and a twelve month high of $121.12. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.82 and a quick ratio of 0.58. The company's 50-day moving average is $100.36 and its 200-day moving average is $100.62. The company has a market capitalization of $58.47 billion, a P/E ratio of 17.95, a P/E/G ratio of 2.09 and a beta of 0.94.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last issued its earnings results on Tuesday, July 22nd. The transportation company reported $1.35 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.37 by ($0.02). Canadian National Railway had a return on equity of 21.71% and a net margin of 26.63%. The company had revenue of $3.14 billion during the quarter, compared to analyst estimates of $4.34 billion. During the same period in the previous year, the company posted $1.84 earnings per share. The company's quarterly revenue was down 1.3% on a year-over-year basis. On average, equities analysts anticipate that Canadian National Railway Company will post 5.52 EPS for the current year.

Canadian National Railway Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 8th will be issued a dividend of $0.6507 per share. The ex-dividend date of this dividend is Monday, September 8th. This represents a $2.60 dividend on an annualized basis and a yield of 2.8%. This is a positive change from Canadian National Railway's previous quarterly dividend of $0.62. Canadian National Railway's payout ratio is 49.81%.

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.