Canadian National Railway (NYSE:CNI) Shares Sold by Baxter Bros Inc.

Baxter Bros Inc. decreased its holdings in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 1.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 9,375 shares of the transportation company’s stock after selling 100 shares during the period. Baxter Bros Inc.’s holdings in Canadian National Railway were worth $1,178,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Artisan Partners Limited Partnership purchased a new position in shares of Canadian National Railway in the third quarter worth $273,243,000. Morgan Stanley grew its stake in Canadian National Railway by 53.2% during the 3rd quarter. Morgan Stanley now owns 2,879,091 shares of the transportation company’s stock valued at $311,892,000 after purchasing an additional 1,000,244 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of Canadian National Railway by 5.0% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 13,067,300 shares of the transportation company’s stock valued at $1,421,649,000 after purchasing an additional 625,500 shares during the period. Quadrature Capital Ltd lifted its holdings in shares of Canadian National Railway by 98.9% during the third quarter. Quadrature Capital Ltd now owns 1,229,900 shares of the transportation company’s stock worth $134,136,000 after purchasing an additional 611,400 shares during the period. Finally, Deutsche Bank AG boosted its position in Canadian National Railway by 7.3% in the third quarter. Deutsche Bank AG now owns 5,575,661 shares of the transportation company’s stock valued at $604,011,000 after buying an additional 378,513 shares during the last quarter. 80.74% of the stock is owned by hedge funds and other institutional investors.

Canadian National Railway Trading Up 1.3 %

NYSE:CNI traded up $1.58 on Friday, reaching $123.54. The company’s stock had a trading volume of 795,232 shares, compared to its average volume of 1,073,122. The firm has a market cap of $78.90 billion, a price-to-earnings ratio of 19.70, a price-to-earnings-growth ratio of 2.17 and a beta of 0.89. The company has a quick ratio of 0.46, a current ratio of 0.60 and a debt-to-equity ratio of 0.84. Canadian National Railway has a 12-month low of $103.96 and a 12-month high of $134.02. The stock has a 50 day moving average price of $128.73 and a 200 day moving average price of $122.82.

Canadian National Railway Cuts Dividend

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

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Citigroup lifted their price objective on shares of Canadian National Railway from $121.00 to $128.00 and gave the company a “neutral” rating in a research note on Wednesday, January 24th. Wells Fargo & Company lifted their price objective on Canadian National Railway from $110.00 to $125.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 24th. Stephens restated an “equal weight” rating and issued a $140.00 target price on shares of Canadian National Railway in a research note on Wednesday, April 24th. CIBC downgraded Canadian National Railway from a “sector outperform” rating to a “neutral” rating in a report on Wednesday, January 10th. Finally, Susquehanna raised their price objective on shares of Canadian National Railway from $140.00 to $142.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Seventeen analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $149.05.

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.