Wellington Management Group LLP Has $1.57 Billion Position in Canadian National Railway Company $CNI

Key Points

• Wellington Management Group has reduced its stake in Canadian National Railway by 7.7%, now owning 16,136,037 shares valued at approximately $1.57 billion.
• Canadian National Railway recently announced an increase in its quarterly dividend to $0.6507 per share, resulting in an annual yield of 2.8%.
• The company's stock has experienced a slight increase of 0.6% and has a current price-to-earnings ratio of 17.95 with a market cap of $58.26 billion.

Wellington Management Group LLP cut its stake in shares of Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 7.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,136,037 shares of the transportation company's stock after selling 1,340,861 shares during the quarter. Wellington Management Group LLP owned 2.57% of Canadian National Railway worth $1,570,230,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in CNI. Townsquare Capital LLC grew its holdings in shares of Canadian National Railway by 89.5% during the 4th quarter. Townsquare Capital LLC now owns 3,883 shares of the transportation company's stock valued at $394,000 after purchasing an additional 1,834 shares during the last quarter. NewEdge Advisors LLC boosted its position in Canadian National Railway by 55.8% during the 4th quarter. NewEdge Advisors LLC now owns 5,296 shares of the transportation company's stock worth $538,000 after buying an additional 1,896 shares during the period. Marshall Wace LLP boosted its position in Canadian National Railway by 14.0% during the 4th quarter. Marshall Wace LLP now owns 83,138 shares of the transportation company's stock worth $8,439,000 after buying an additional 10,212 shares during the period. First Trust Advisors LP boosted its position in Canadian National Railway by 3.4% during the 4th quarter. First Trust Advisors LP now owns 417,759 shares of the transportation company's stock worth $42,407,000 after buying an additional 13,630 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Canadian National Railway by 2.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,211,222 shares of the transportation company's stock worth $122,948,000 after buying an additional 31,752 shares during the period. 80.74% of the stock is owned by institutional investors.

Canadian National Railway Trading Up 2.0%

Shares of NYSE CNI traded up $1.8350 during midday trading on Friday, reaching $95.8650. The stock had a trading volume of 2,047,408 shares, compared to its average volume of 1,688,668. The firm has a market cap of $59.85 billion, a price-to-earnings ratio of 18.44, a price-to-earnings-growth ratio of 2.09 and a beta of 0.94. 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 quick ratio of 0.58 and a current ratio of 0.82. The company's 50 day moving average price is $99.08 and its 200 day moving average price is $100.23.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last issued its quarterly 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). The firm had revenue of $3.14 billion during the quarter, compared to analyst estimates of $4.34 billion. Canadian National Railway had a return on equity of 21.71% and a net margin of 26.63%.The firm's revenue for the quarter was down 1.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.84 EPS. As a group, sell-side analysts expect that Canadian National Railway Company will post 5.52 EPS for the current year.

Canadian National Railway Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 8th will be given a dividend of $0.6507 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Monday, September 8th. This is a boost from Canadian National Railway's previous quarterly dividend of $0.62. Canadian National Railway's dividend payout ratio is presently 50.19%.

Analyst Upgrades and Downgrades

Several research firms recently commented on CNI. National Bank Financial downgraded shares of Canadian National Railway from an "outperform" rating to a "sector perform" rating in a research report on Wednesday, July 23rd. Susquehanna cut their target price on shares of 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. Wells Fargo & Company cut their target price on shares of 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. Stephens lifted their target price on shares of Canadian National Railway from $105.00 to $109.00 and gave the stock an "equal weight" rating in a research report on Friday, May 2nd. Finally, Evercore ISI downgraded shares of Canadian National Railway from an "outperform" rating to an "in-line" rating and set a $105.00 target price on the stock. in a research report on Wednesday, July 23rd. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $118.36.

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.