DAVENPORT & Co LLC Has $974,000 Position in Canadian National Railway (NYSE:CNI)

DAVENPORT & Co LLC cut its holdings in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 72.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,597 shares of the transportation company’s stock after selling 25,644 shares during the period. DAVENPORT & Co LLC’s holdings in Canadian National Railway were worth $974,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Fortitude Family Office LLC raised its holdings in Canadian National Railway by 738.7% during the 3rd quarter. Fortitude Family Office LLC now owns 260 shares of the transportation company’s stock worth $30,000 after purchasing an additional 229 shares during the last quarter. Coastline Trust Co acquired a new position in Canadian National Railway during the 3rd quarter worth approximately $34,000. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of Canadian National Railway by 48.2% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 332 shares of the transportation company’s stock worth $34,000 after purchasing an additional 108 shares in the last quarter. Reston Wealth Management LLC bought a new position in shares of Canadian National Railway in the third quarter valued at $41,000. Finally, Sanctuary Wealth Management L.L.C. acquired a new position in Canadian National Railway during the 3rd quarter valued at about $56,000. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Canadian National Railway Stock Performance

Shares of NYSE:CNI opened at $103.29 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.48 and a debt-to-equity ratio of 0.94. The company has a 50-day moving average price of $103.92 and a 200-day moving average price of $110.45. The company has a market cap of $64.95 billion, a price-to-earnings ratio of 20.17, a price-to-earnings-growth ratio of 2.47 and a beta of 0.91. Canadian National Railway has a 12 month low of $98.69 and a 12 month high of $134.02.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings results on Thursday, January 30th. The transportation company reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.09). Canadian National Railway had a net margin of 26.09% and a return on equity of 22.48%. As a group, equities analysts anticipate that Canadian National Railway 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, March 31st. Investors of record on Monday, March 10th will be paid a $0.6159 dividend. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.46 dividend on an annualized basis and a yield of 2.38%. Canadian National Railway’s dividend payout ratio (DPR) is presently 46.68%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Stifel Nicolaus lifted their price objective on shares of Canadian National Railway from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Friday, January 31st. JPMorgan Chase & Co. raised Canadian National Railway from a “neutral” rating to an “overweight” rating in a research report on Tuesday, January 7th. Citigroup raised shares of Canadian National Railway from a “neutral” rating to a “buy” rating and boosted their price target for the company from $126.00 to $130.00 in a research report on Tuesday, November 12th. TD Securities raised Canadian National Railway from a “hold” rating to a “strong-buy” rating in a report on Monday, January 13th. Finally, Loop Capital downgraded shares of Canadian National Railway from a “hold” rating to a “sell” rating in a report on Monday. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, Canadian National Railway presently has a consensus rating of “Moderate Buy” and a consensus target price of $124.19.

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.