Tower Research Capital LLC TRC Reduces Stock Position in Canadian National Railway (NYSE:CNI)

Tower Research Capital LLC TRC reduced its holdings in shares of Canadian National Railway (NYSE:CNI – Get Rating) (TSE:CNR) by 58.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 3,306 shares of the transportation company’s stock after selling 4,642 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Canadian National Railway were worth $361,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. BCK Partners Inc. purchased a new stake in Canadian National Railway in the 1st quarter worth approximately $2,575,000. BlackRock Inc. lifted its stake in Canadian National Railway by 26.2% in the 1st quarter. BlackRock Inc. now owns 931,027 shares of the transportation company’s stock worth $124,888,000 after purchasing an additional 193,116 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Canadian National Railway by 3.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 762,341 shares of the transportation company’s stock worth $102,260,000 after purchasing an additional 22,984 shares in the last quarter. Blair William & Co. IL lifted its stake in Canadian National Railway by 1.4% in the 1st quarter. Blair William & Co. IL now owns 60,441 shares of the transportation company’s stock worth $8,107,000 after purchasing an additional 807 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its stake in Canadian National Railway by 18.9% in the 1st quarter. Allianz Asset Management GmbH now owns 33,602 shares of the transportation company’s stock worth $4,511,000 after purchasing an additional 5,349 shares in the last quarter. 86.96% of the stock is currently owned by hedge funds and other institutional investors.

Canadian National Railway Price Performance

Shares of Canadian National Railway stock opened at $115.93 on Tuesday. The firm has a market cap of $77.69 billion, a PE ratio of 20.30, a price-to-earnings-growth ratio of 2.00 and a beta of 0.91. Canadian National Railway has a 12-month low of $103.79 and a 12-month high of $137.19. The company has a quick ratio of 0.66, a current ratio of 0.84 and a debt-to-equity ratio of 0.67. The company’s fifty day simple moving average is $119.76 and its two-hundred day simple moving average is $119.60.

Canadian National Railway Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Friday, March 10th will be given a $0.5906 dividend. This represents a $2.36 annualized dividend and a dividend yield of 2.04%. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Thursday, March 9th. Canadian National Railway’s dividend payout ratio (DPR) is currently 37.83%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Wells Fargo & Company lowered their target price on shares of Canadian National Railway from $120.00 to $115.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 25th. Credit Suisse Group decreased their price target on shares of Canadian National Railway from $133.00 to $128.00 and set a “neutral” rating on the stock in a report on Wednesday, January 25th. Barclays increased their price target on shares of Canadian National Railway from $118.00 to $127.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 11th. Bank of America increased their price target on shares of Canadian National Railway from $131.00 to $140.00 and gave the stock a “buy” rating in a report on Tuesday, November 29th. Finally, Scotiabank increased their price target on shares of Canadian National Railway from C$159.00 to C$170.00 in a report on Tuesday, January 24th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $142.35.

Canadian National Railway Profile

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Canadian National Railway Co engages in rail and related transportation business. Its services include rail, intermodal, trucking, supply chain services, business development and maps and network. Its offers their services in automotive, coal, fertilizer, food and beverages, forest products, dimensional loads, grain, metals and minerals and petroleum and chemicals industries.