Massachusetts Financial Services Co. MA Sells 1,767,989 Shares of Canadian National Railway (NYSE:CNI)

Massachusetts Financial Services Co. MA reduced its holdings in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 12.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 12,097,715 shares of the transportation company’s stock after selling 1,767,989 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Canadian National Railway were worth $1,228,039,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Norges Bank bought a new position in Canadian National Railway during the 4th quarter worth $563,048,000. National Bank of Canada FI raised its position in shares of Canadian National Railway by 46.5% during the third quarter. National Bank of Canada FI now owns 6,737,322 shares of the transportation company’s stock worth $789,030,000 after acquiring an additional 2,137,948 shares during the last quarter. Canoe Financial LP acquired a new position in shares of Canadian National Railway in the fourth quarter worth approximately $216,943,000. Point72 Asset Management L.P. bought a new stake in Canadian National Railway in the third quarter valued at approximately $159,907,000. Finally, Arrowstreet Capital Limited Partnership increased its position in Canadian National Railway by 29.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,814,469 shares of the transportation company’s stock valued at $488,488,000 after purchasing an additional 1,102,977 shares during the period. Institutional investors own 80.74% of the company’s stock.

Canadian National Railway Stock Performance

CNI opened at $98.72 on Wednesday. Canadian National Railway has a 1-year low of $93.64 and a 1-year high of $132.27. The company has a market cap of $62.03 billion, a price-to-earnings ratio of 19.28, a PEG ratio of 1.95 and a beta of 0.91. The company’s fifty day moving average price is $100.88 and its two-hundred day moving average price is $106.21. The company has a current ratio of 0.66, a quick ratio of 0.48 and a debt-to-equity ratio of 0.94.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its earnings results on Thursday, January 30th. The transportation company reported $1.30 earnings per share for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.09). Canadian National Railway had a return on equity of 22.48% and a net margin of 26.09%. On average, analysts expect that Canadian National Railway will post 5.52 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were given a dividend of $0.6159 per share. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.61. The ex-dividend date was Monday, March 10th. This represents a $2.46 annualized dividend and a dividend yield of 2.50%. Canadian National Railway’s payout ratio is presently 47.66%.

Analyst Ratings Changes

A number of research firms have recently commented on CNI. Loop Capital lowered shares of Canadian National Railway from a “hold” rating to a “sell” rating in a research note on Monday, February 3rd. Evercore ISI upgraded Canadian National Railway from a “hold” rating to a “strong-buy” rating in a report on Thursday, December 19th. Bank of America dropped their price objective on Canadian National Railway from $119.00 to $112.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. JPMorgan Chase & Co. raised Canadian National Railway from a “neutral” rating to an “overweight” rating in a research note on Tuesday, January 7th. Finally, Jefferies Financial Group upgraded Canadian National Railway from a “hold” rating to a “buy” rating and set a $120.00 target price for the company in a report on Friday, January 10th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $124.02.

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.