Jennison Associates LLC Purchases 33,308 Shares of Canadian National Railway (NYSE:CNI)

Jennison Associates LLC raised its position in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 40.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 115,739 shares of the transportation company’s stock after buying an additional 33,308 shares during the quarter. Jennison Associates LLC’s holdings in Canadian National Railway were worth $14,540,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. JFS Wealth Advisors LLC increased its position in Canadian National Railway by 241.1% during the 3rd quarter. JFS Wealth Advisors LLC now owns 324 shares of the transportation company’s stock worth $35,000 after purchasing an additional 229 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Canadian National Railway by 121.0% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 369 shares of the transportation company’s stock worth $40,000 after purchasing an additional 202 shares in the last quarter. Keener Financial Planning LLC acquired a new stake in shares of Canadian National Railway in the fourth quarter valued at about $46,000. Rational Advisors LLC acquired a new stake in Canadian National Railway during the third quarter worth approximately $41,000. Finally, Crewe Advisors LLC acquired a new stake in Canadian National Railway during the third quarter worth approximately $43,000. 80.74% of the stock is owned by institutional investors.

Canadian National Railway Stock Up 1.6 %

CNI stock opened at $124.78 on Friday. The company has a current ratio of 0.60, a quick ratio of 0.47 and a debt-to-equity ratio of 0.84. Canadian National Railway has a 1-year low of $103.96 and a 1-year high of $134.02. The stock has a market cap of $79.70 billion, a price-to-earnings ratio of 19.90, a price-to-earnings-growth ratio of 2.14 and a beta of 0.88. The company’s 50 day moving average is $129.58 and its 200 day moving average is $122.22.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its earnings results on Tuesday, January 23rd. The transportation company reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.02. Canadian National Railway had a return on equity of 23.27% and a net margin of 32.81%. The company had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.25 billion. Sell-side analysts predict that Canadian National Railway will post 5.93 EPS for the current fiscal year.

Canadian National Railway Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be issued a dividend of $0.625 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $2.50 dividend on an annualized basis and a yield of 2.00%. Canadian National Railway’s dividend payout ratio is currently 39.71%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Susquehanna raised their price objective on Canadian National Railway from $140.00 to $142.00 and gave the company a “neutral” rating in a research note on Wednesday. Jefferies Financial Group began coverage on Canadian National Railway in a research report on Monday, April 8th. They set a “hold” rating and a $130.00 target price on the stock. TD Securities cut Canadian National Railway from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Susquehanna Bancshares lifted their target price on Canadian National Railway from $115.00 to $143.00 and gave the company a “neutral” rating in a research report on Monday, January 8th. Finally, CIBC cut Canadian National Railway from a “sector outperform” rating to a “neutral” rating in a research report on Wednesday, January 10th. Eighteen equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $148.60.

About Canadian National Railway

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.