Sandy Spring Bank Has $68,000 Stock Holdings in Canadian National Railway (NYSE:CNI)

Sandy Spring Bank increased its stake in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 459.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 666 shares of the transportation company’s stock after purchasing an additional 547 shares during the quarter. Sandy Spring Bank’s holdings in Canadian National Railway were worth $68,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Generali Asset Management SPA SGR acquired a new position in Canadian National Railway during the 4th quarter worth approximately $3,226,000. Gold Investment Management Ltd. increased its position in Canadian National Railway by 0.6% during the 4th quarter. Gold Investment Management Ltd. now owns 47,721 shares of the transportation company’s stock worth $4,845,000 after purchasing an additional 307 shares in the last quarter. Harbour Investments Inc. increased its position in Canadian National Railway by 5.0% during the 4th quarter. Harbour Investments Inc. now owns 3,302 shares of the transportation company’s stock worth $335,000 after purchasing an additional 156 shares in the last quarter. Centurion Wealth Management LLC increased its position in Canadian National Railway by 23.0% during the 4th quarter. Centurion Wealth Management LLC now owns 2,415 shares of the transportation company’s stock worth $245,000 after purchasing an additional 452 shares in the last quarter. Finally, Frank Rimerman Advisors LLC acquired a new position in Canadian National Railway in the 4th quarter valued at approximately $205,000. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Susquehanna decreased their price target on shares of Canadian National Railway from $125.00 to $115.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Stifel Nicolaus upped their price target on shares of Canadian National Railway from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Evercore ISI upgraded shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research report on Thursday, December 19th. Jefferies Financial Group upgraded shares of Canadian National Railway from a “hold” rating to a “buy” rating and set a $120.00 price target for the company in a research report on Friday, January 10th. Finally, TD Securities upgraded shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 13th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $124.19.

Canadian National Railway Stock Down 1.1 %

Shares of NYSE CNI opened at $96.71 on Friday. The firm has a market cap of $60.77 billion, a PE ratio of 18.89, a P/E/G ratio of 1.95 and a beta of 0.91. Canadian National Railway has a 12-month low of $93.64 and a 12-month high of $132.73. The company’s fifty day simple moving average is $101.27 and its 200 day simple moving average is $107.21. The company has a quick ratio of 0.48, a current ratio of 0.66 and a debt-to-equity ratio of 0.94.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its earnings results on Thursday, January 30th. The transportation company reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.39 by ($0.09). Canadian National Railway had a return on equity of 22.48% and a net margin of 26.09%. As a group, sell-side analysts forecast that Canadian National Railway will post 5.52 earnings per share for the current fiscal year.

Canadian National Railway Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a $0.6159 dividend. This represents a $2.46 dividend on an annualized basis and a dividend yield of 2.55%. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Monday, March 10th. Canadian National Railway’s dividend payout ratio (DPR) is 47.66%.

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.