Canadian National Railway (NYSE:CNI) is National Bank of Canada FI's 9th Largest Position

National Bank of Canada FI grew its position in Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR by 5.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,385,441 shares of the transportation company's stock after acquiring an additional 311,961 shares during the quarter. Canadian National Railway accounts for 1.3% of National Bank of Canada FI's portfolio, making the stock its 9th biggest holding. National Bank of Canada FI owned approximately 0.99% of Canadian National Railway worth $800,750,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CNI. Avantax Advisory Services Inc. raised its position in Canadian National Railway by 33.5% during the third quarter. Avantax Advisory Services Inc. now owns 11,998 shares of the transportation company's stock valued at $1,300,000 after purchasing an additional 3,011 shares during the period. Spire Wealth Management increased its position in Canadian National Railway by 5.0% during the third quarter. Spire Wealth Management now owns 4,602 shares of the transportation company's stock valued at $498,000 after acquiring an additional 219 shares during the last quarter. YCG LLC raised its stake in shares of Canadian National Railway by 6.0% in the fourth quarter. YCG LLC now owns 250,085 shares of the transportation company's stock valued at $31,418,000 after acquiring an additional 14,249 shares during the period. Manning & Napier Group LLC boosted its stake in shares of Canadian National Railway by 7.5% during the 4th quarter. Manning & Napier Group LLC now owns 669,988 shares of the transportation company's stock worth $84,171,000 after purchasing an additional 46,517 shares during the period. Finally, Graham Capital Management L.P. purchased a new position in shares of Canadian National Railway during the 3rd quarter worth about $1,266,000. 80.74% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on CNI shares. Barclays increased their price target on Canadian National Railway from $127.00 to $130.00 and gave the stock an "equal weight" rating in a report on Thursday, April 4th. Stephens restated an "equal weight" rating and issued a $140.00 price target on shares of Canadian National Railway in a report on Wednesday, April 24th. Benchmark reiterated a "hold" rating on shares of Canadian National Railway in a report on Wednesday, April 24th. CIBC downgraded shares of Canadian National Railway from a "sector outperform" rating to a "neutral" rating in a research note on Wednesday, January 10th. Finally, Bank of America upgraded Canadian National Railway from a "neutral" rating to a "buy" rating and boosted their price target for the company from $140.00 to $145.00 in a report on Wednesday, April 10th. Seventeen analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $149.05.

Canadian National Railway Stock Up 1.3 %

CNI stock traded up $1.58 on Friday, hitting $123.54. 795,232 shares of the company's stock were exchanged, compared to its average volume of 1,073,122. The firm has a 50 day moving average price of $128.73 and a two-hundred day moving average price of $122.82. Canadian National Railway has a 12-month low of $103.96 and a 12-month high of $134.02. The stock has a market cap of $78.90 billion, a P/E ratio of 19.70, a price-to-earnings-growth ratio of 2.14 and a beta of 0.89. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.46 and a current ratio of 0.60.

Canadian National Railway Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be paid a dividend of $0.625 per share. The ex-dividend date is Friday, June 7th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 2.02%. Canadian National Railway's payout ratio is 40.03%.

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.