ClearBridge Investments Ltd Acquires 339,774 Shares of Canadian National Railway (NYSE:CNI)

ClearBridge Investments Ltd grew its holdings in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 73.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 804,212 shares of the transportation company’s stock after acquiring an additional 339,774 shares during the quarter. Canadian National Railway accounts for about 2.1% of ClearBridge Investments Ltd’s investment portfolio, making the stock its 19th largest holding. ClearBridge Investments Ltd owned about 0.13% of Canadian National Railway worth $81,636,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of Canadian National Railway by 48.2% during 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 in the last quarter. Crestwood Advisors Group LLC increased its position in Canadian National Railway by 4.2% during the fourth quarter. Crestwood Advisors Group LLC now owns 2,814 shares of the transportation company’s stock worth $286,000 after acquiring an additional 114 shares during the period. Lowe Brockenbrough & Co. Inc. raised its stake in Canadian National Railway by 1.2% in the 4th quarter. Lowe Brockenbrough & Co. Inc. now owns 11,492 shares of the transportation company’s stock worth $1,167,000 after purchasing an additional 139 shares in the last quarter. Addison Advisors LLC boosted its holdings in Canadian National Railway by 80.2% in the 4th quarter. Addison Advisors LLC now owns 319 shares of the transportation company’s stock valued at $32,000 after purchasing an additional 142 shares during the period. Finally, Harbour Investments Inc. grew its position in shares of 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. Institutional investors and hedge funds own 80.74% of the company’s stock.

Analysts Set New Price Targets

CNI has been the subject of several recent research reports. TD Securities upgraded Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 13th. Wells Fargo & Company cut their target price on Canadian National Railway from $125.00 to $123.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Royal Bank of Canada decreased their price target on Canadian National Railway from $174.00 to $171.00 and set an “outperform” rating on the stock in a research report on Friday, January 31st. Loop Capital cut shares of Canadian National Railway from a “hold” rating to a “sell” rating in a research report on Monday, February 3rd. Finally, Stifel Nicolaus raised their target price on shares of Canadian National Railway from $120.00 to $125.00 and gave the company a “buy” rating in a report on Friday, January 31st. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $124.02.

Canadian National Railway Price Performance

Canadian National Railway stock opened at $97.39 on Friday. The company has a market capitalization of $61.20 billion, a PE ratio of 19.02, a P/E/G ratio of 1.95 and a beta of 0.91. The company has a current ratio of 0.66, a quick ratio of 0.48 and a debt-to-equity ratio of 0.94. The stock has a 50-day moving average price of $101.07 and a two-hundred day moving average price of $106.58. Canadian National Railway has a 12 month low of $93.64 and a 12 month high of $132.27.

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 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%. Analysts expect that Canadian National Railway will post 5.52 EPS for the current year.

Canadian National Railway Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be issued a $0.6159 dividend. This represents a $2.46 dividend on an annualized basis and a yield of 2.53%. This is an increase 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 is presently 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.