Jennison Associates LLC Purchases 11,016 Shares of Canadian National Railway (NYSE:CNI)

Jennison Associates LLC lifted its position in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 7.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 152,814 shares of the transportation company’s stock after buying an additional 11,016 shares during the period. Jennison Associates LLC’s holdings in Canadian National Railway were worth $15,512,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Grove Bank & Trust boosted its position in Canadian National Railway by 15.3% in the third quarter. Grove Bank & Trust now owns 730 shares of the transportation company’s stock worth $86,000 after purchasing an additional 97 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of Canadian National Railway by 48.2% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 332 shares of the transportation company’s stock worth $34,000 after buying an additional 108 shares during the last quarter. Catalytic Wealth RIA LLC grew its position in Canadian National Railway by 2.3% during the third quarter. Catalytic Wealth RIA LLC now owns 5,582 shares of the transportation company’s stock valued at $654,000 after buying an additional 123 shares during the period. Harrington Investments INC increased its holdings in Canadian National Railway by 0.6% during the third quarter. Harrington Investments INC now owns 20,346 shares of the transportation company’s stock valued at $2,384,000 after buying an additional 130 shares during the last quarter. Finally, Koshinski Asset Management Inc. raised its position in Canadian National Railway by 3.2% in the third quarter. Koshinski Asset Management Inc. now owns 4,375 shares of the transportation company’s stock worth $513,000 after acquiring an additional 135 shares during the period. Institutional investors own 80.74% of the company’s stock.

Canadian National Railway Stock Performance

NYSE CNI opened at $103.96 on Thursday. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.66 and a quick ratio of 0.48. Canadian National Railway has a 1-year low of $98.69 and a 1-year high of $134.02. The business has a 50 day simple moving average of $104.07 and a two-hundred day simple moving average of $110.50. The stock has a market capitalization of $65.38 billion, a PE ratio of 20.31, a P/E/G ratio of 2.47 and a beta of 0.91.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its earnings results on Thursday, January 30th. The transportation company reported $1.30 EPS 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%. On average, research analysts predict that Canadian National Railway 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, March 31st. Stockholders of record on Monday, March 10th will be issued a $0.6159 dividend. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.61. This represents a $2.46 dividend on an annualized basis and a dividend yield of 2.37%. Canadian National Railway’s payout ratio is 46.68%.

Analysts Set New Price Targets

CNI has been the subject of a number of recent research reports. Royal Bank of Canada cut their price objective on shares of Canadian National Railway from $174.00 to $171.00 and set an “outperform” rating for the company in a research report on Friday, January 31st. Barclays cut their price target on Canadian National Railway from $121.00 to $112.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Bank of America decreased their price objective on Canadian National Railway from $119.00 to $112.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Sanford C. Bernstein cut their price objective on Canadian National Railway from $130.67 to $126.29 and set a “market perform” rating for the company in a research note on Wednesday, October 9th. Finally, Wells Fargo & Company decreased their target price on shares of Canadian National Railway from $125.00 to $123.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, Canadian National Railway currently has a consensus rating of “Moderate Buy” and a consensus price target of $124.19.

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.