Wellington Management Group LLP Has $1.57 Billion Position in Canadian National Railway Company $CNI

Wellington Management Group LLP reduced its stake in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 7.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 16,136,037 shares of the transportation company’s stock after selling 1,340,861 shares during the quarter. Wellington Management Group LLP owned approximately 2.57% of Canadian National Railway worth $1,570,230,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Royal Bank of Canada raised its stake in Canadian National Railway by 7.5% during the 4th quarter. Royal Bank of Canada now owns 27,757,038 shares of the transportation company’s stock valued at $2,817,616,000 after purchasing an additional 1,934,622 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Canadian National Railway by 33.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,489,874 shares of the transportation company’s stock valued at $557,278,000 after purchasing an additional 1,380,554 shares during the last quarter. Nuveen LLC acquired a new position in Canadian National Railway during the 1st quarter valued at $112,216,000. BLI Banque de Luxembourg Investments acquired a new position in Canadian National Railway during the 4th quarter valued at $70,283,000. Finally, Value Partners Investments Inc. raised its stake in Canadian National Railway by 1,101.9% during the 1st quarter. Value Partners Investments Inc. now owns 553,290 shares of the transportation company’s stock valued at $53,897,000 after purchasing an additional 507,254 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Canadian National Railway Stock Up 0.6%

CNI opened at $93.33 on Monday. The firm’s 50-day simple moving average is $100.12 and its 200-day simple moving average is $100.47. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.58 and a current ratio of 0.82. The firm has a market cap of $58.26 billion, a price-to-earnings ratio of 17.95, a PEG ratio of 2.08 and a beta of 0.94. Canadian National Railway Company has a twelve month low of $91.65 and a twelve month high of $121.12.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its earnings results on Tuesday, July 22nd. The transportation company reported $1.35 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.02). Canadian National Railway had a net margin of 26.63% and a return on equity of 21.71%. The business had revenue of $3.14 billion during the quarter, compared to analyst estimates of $4.34 billion. During the same quarter last year, the business posted $1.84 earnings per share. The business’s quarterly revenue was down 1.3% compared to the same quarter last year. Equities research analysts anticipate that Canadian National Railway Company will post 5.52 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 8th will be given a dividend of $0.6507 per share. This represents a $2.60 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Monday, September 8th. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.62. Canadian National Railway’s dividend payout ratio is currently 49.81%.

Analyst Ratings Changes

A number of research analysts recently commented on CNI shares. Evercore ISI lowered Canadian National Railway from an “outperform” rating to an “in-line” rating and set a $105.00 target price for the company. in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. restated a “neutral” rating on shares of Canadian National Railway in a research note on Wednesday, July 23rd. Citigroup cut their target price on Canadian National Railway from $124.00 to $123.00 and set a “buy” rating for the company in a research note on Wednesday, July 9th. Raymond James Financial upgraded Canadian National Railway from a “market perform” rating to an “outperform” rating in a research note on Thursday, July 17th. Finally, Bank of America upped their target price on Canadian National Railway from $105.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, May 16th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $118.36.

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.