Reaves W H & Co. Inc. Sells 281,586 Shares of Canadian National Railway (NYSE:CNI)

Reaves W H & Co. Inc. cut its holdings in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 90.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,723 shares of the transportation company’s stock after selling 281,586 shares during the period. Reaves W H & Co. Inc.’s holdings in Canadian National Railway were worth $3,017,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Quintet Private Bank Europe S.A. bought a new stake in Canadian National Railway in the fourth quarter worth $25,000. LGT Group Foundation boosted its holdings in Canadian National Railway by 2.3% in the fourth quarter. LGT Group Foundation now owns 88,693 shares of the transportation company’s stock worth $8,995,000 after purchasing an additional 2,005 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in Canadian National Railway during the 4th quarter worth $75,000. Jones Financial Companies Lllp lifted its position in Canadian National Railway by 6.1% during the 4th quarter. Jones Financial Companies Lllp now owns 5,311 shares of the transportation company’s stock worth $539,000 after acquiring an additional 307 shares during the last quarter. Finally, Hickory Point Bank & Trust acquired a new position in Canadian National Railway during the 4th quarter worth $390,000. 80.74% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CNI shares. Evercore ISI raised shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research report on Thursday, December 19th. Susquehanna cut their target price on shares of Canadian National Railway from $125.00 to $115.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Barclays cut their target price on shares of Canadian National Railway from $121.00 to $112.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Jefferies Financial Group raised shares of Canadian National Railway from a “hold” rating to a “buy” rating and set a $120.00 target price for the company in a research report on Friday, January 10th. Finally, Bank of America cut their target price on shares of Canadian National Railway from $119.00 to $112.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $124.19.

Canadian National Railway Stock Performance

NYSE CNI opened at $98.28 on Tuesday. The stock has a market cap of $61.75 billion, a P/E ratio of 19.20, a PEG ratio of 1.95 and a beta of 0.91. The company’s 50-day simple moving average is $102.45 and its 200 day simple moving average is $108.94. Canadian National Railway has a twelve month low of $98.18 and a twelve month high of $134.02. The company has a quick ratio of 0.48, a current ratio of 0.66 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 net margin of 26.09% and a return on equity of 22.48%. As a group, research analysts forecast that Canadian National Railway will post 5.52 earnings per share for the current fiscal year.

Canadian National Railway Increases Dividend

The firm also recently announced 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. 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 2.51%. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.61. Canadian National Railway’s payout ratio is presently 47.66%.

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.