Patten Group Inc. Decreases Stock Holdings in Canadian National Railway (NYSE:CNI)

Patten Group Inc. lowered its holdings in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 5.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,046 shares of the transportation company’s stock after selling 598 shares during the period. Patten Group Inc.’s holdings in Canadian National Railway were worth $1,121,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CNI. Nicola Wealth Management LTD. increased its holdings in Canadian National Railway by 24.5% in the 4th quarter. Nicola Wealth Management LTD. now owns 239,600 shares of the transportation company’s stock valued at $24,322,000 after purchasing an additional 47,100 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Canadian National Railway by 3.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,419,044 shares of the transportation company’s stock valued at $144,029,000 after buying an additional 50,548 shares in the last quarter. Quintet Private Bank Europe S.A. purchased a new stake in shares of Canadian National Railway during the 4th quarter valued at about $25,000. LGT Group Foundation lifted its position in Canadian National Railway by 2.3% during the 4th quarter. LGT Group Foundation now owns 88,693 shares of the transportation company’s stock worth $8,995,000 after acquiring an additional 2,005 shares in the last quarter. Finally, SBI Securities Co. Ltd. purchased a new position in Canadian National Railway in the 4th quarter worth approximately $75,000. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Canadian National Railway Price Performance

Shares of Canadian National Railway stock opened at $98.28 on Tuesday. 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 market cap of $61.75 billion, a PE ratio of 19.20, a price-to-earnings-growth ratio of 1.95 and a beta of 0.91. Canadian National Railway has a 52 week low of $98.18 and a 52 week high of $134.02. The company’s 50-day moving average price is $102.45 and its two-hundred day moving average price is $108.94.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings data on Thursday, January 30th. The transportation company reported $1.30 earnings per share 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 anticipate that Canadian National Railway will post 5.52 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be given a $0.6159 dividend. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.61. This represents a $2.46 annualized dividend and a dividend yield of 2.51%. The ex-dividend date of this dividend is Monday, March 10th. Canadian National Railway’s dividend payout ratio (DPR) is 47.66%.

Analysts Set New Price Targets

CNI has been the topic of a number of analyst reports. Stifel Nicolaus lifted their price objective on shares of Canadian National Railway from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Evercore ISI raised shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Thursday, December 19th. Bank of America lowered their target price on Canadian National Railway from $119.00 to $112.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Wells Fargo & Company dropped their target price on Canadian National Railway from $125.00 to $123.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. Finally, Citigroup raised Canadian National Railway from a “neutral” rating to a “buy” rating and increased their price target for the company from $126.00 to $130.00 in a report on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, Canadian National Railway presently has an average rating of “Moderate Buy” and a consensus target price of $124.19.

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.