Massachusetts Financial Services Co. MA Decreases Position in Canadian National Railway Company $CNI

Massachusetts Financial Services Co. MA decreased its stake in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 1.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,660,891 shares of the transportation company’s stock after selling 162,770 shares during the quarter. Massachusetts Financial Services Co. MA owned about 1.88% of Canadian National Railway worth $1,099,622,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Canadian National Railway by 3.3% during the second quarter. Vanguard Group Inc. now owns 23,927,393 shares of the transportation company’s stock worth $2,493,163,000 after buying an additional 761,454 shares during the period. TD Asset Management Inc lifted its holdings in shares of Canadian National Railway by 2.3% in the 2nd quarter. TD Asset Management Inc now owns 12,072,540 shares of the transportation company’s stock worth $1,255,385,000 after acquiring an additional 273,974 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Canadian National Railway by 26.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,705,679 shares of the transportation company’s stock worth $695,048,000 after purchasing an additional 1,408,978 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in Canadian National Railway by 20.1% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 6,296,828 shares of the transportation company’s stock valued at $655,768,000 after purchasing an additional 1,051,977 shares during the last quarter. Finally, Fiera Capital Corp grew its holdings in Canadian National Railway by 6.0% during the 2nd quarter. Fiera Capital Corp now owns 5,800,583 shares of the transportation company’s stock valued at $604,025,000 after purchasing an additional 330,901 shares during the last quarter. Institutional investors own 80.74% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Zacks Research upgraded Canadian National Railway from a “strong sell” rating to a “hold” rating in a research report on Friday, November 28th. Weiss Ratings reissued a “hold (c-)” rating on shares of Canadian National Railway in a research note on Wednesday, October 8th. Cibc Captl Mkts raised Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 28th. Wells Fargo & Company reduced their target price on Canadian National Railway from $117.00 to $110.00 and set an “overweight” rating on the stock in a research note on Monday, October 6th. Finally, Vertical Research upgraded Canadian National Railway from a “hold” rating to a “buy” rating in a research report on Monday, January 5th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $117.64.

Canadian National Railway Stock Performance

CNI stock opened at $100.09 on Friday. Canadian National Railway Company has a 1-year low of $90.74 and a 1-year high of $108.75. The business has a 50-day moving average price of $97.23 and a 200 day moving average price of $96.57. The company has a market capitalization of $61.50 billion, a P/E ratio of 18.99, a PEG ratio of 2.09 and a beta of 0.96. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.60 and a quick ratio of 0.42.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its earnings results on Friday, October 31st. The transportation company reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.05. Canadian National Railway had a net margin of 26.86% and a return on equity of 21.50%. The business had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $4.15 billion. During the same quarter last year, the firm posted $1.72 EPS. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. As a group, equities research analysts forecast that Canadian National Railway Company will post 5.52 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 30th. Investors of record on Tuesday, December 9th were paid a $0.8875 dividend. This represents a $3.55 dividend on an annualized basis and a yield of 3.5%. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend was Tuesday, December 9th. Canadian National Railway’s payout ratio is presently 48.01%.

About Canadian National Railway

Canadian National Railway Company (NYSE: CNI) is a Class I freight railway that operates an integrated rail network across Canada and the United States. Headquartered in Montreal, Quebec, CN provides long-haul freight transportation and related logistics services that connect major ports, industrial centers and inland markets throughout North America. Its transcontinental system enables cross-border movement of goods and supports supply chains that span coast-to-coast in Canada and into the central and eastern United States.

CN’s core business is the railborne transportation of a broad mix of commodities, including intermodal container traffic, forest and paper products, grain and other agricultural products, metallurgical and industrial products, petroleum and chemical products, coal and automotive shipments.