Congress Asset Management Co. MA lowered its stake in Canadian National Railway (NYSE:CNI – Get Rating) (TSE:CNR) by 5.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 4,626 shares of the transportation company’s stock after selling 245 shares during the quarter. Congress Asset Management Co. MA’s holdings in Canadian National Railway were worth $550,000 as of its most recent filing with the SEC.
Other institutional investors have also recently added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV lifted its holdings in Canadian National Railway by 108.7% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 263 shares of the transportation company’s stock valued at $28,000 after purchasing an additional 137 shares in the last quarter. Armstrong Advisory Group Inc. purchased a new position in Canadian National Railway in the 4th quarter valued at $29,000. JFS Wealth Advisors LLC lifted its holdings in Canadian National Railway by 51.3% in the 3rd quarter. JFS Wealth Advisors LLC now owns 351 shares of the transportation company’s stock valued at $38,000 after purchasing an additional 119 shares in the last quarter. Accurate Wealth Management LLC purchased a new position in Canadian National Railway in the 4th quarter valued at $41,000. Finally, AdvisorNet Financial Inc lifted its holdings in Canadian National Railway by 36.4% in the 4th quarter. AdvisorNet Financial Inc now owns 386 shares of the transportation company’s stock valued at $46,000 after purchasing an additional 103 shares in the last quarter. Institutional investors and hedge funds own 86.96% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on the company. BMO Capital Markets decreased their price objective on Canadian National Railway from C$185.00 to C$180.00 in a report on Wednesday, January 25th. Desjardins decreased their price objective on Canadian National Railway from C$180.00 to C$179.00 in a report on Wednesday, January 25th. Atb Cap Markets reiterated a “sector perform” rating on shares of Canadian National Railway in a report on Tuesday, December 20th. CIBC reduced their price target on Canadian National Railway from C$181.00 to C$175.00 in a report on Wednesday, January 25th. Finally, The Goldman Sachs Group lowered Canadian National Railway from a “neutral” rating to a “sell” rating in a report on Tuesday, January 10th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Canadian National Railway has a consensus rating of “Hold” and an average target price of $142.00.
Canadian National Railway Stock Up 0.8 %
Canadian National Railway Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Friday, March 10th will be given a $0.5906 dividend. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend is Thursday, March 9th. Canadian National Railway’s payout ratio is currently 40.11%.
About Canadian National Railway
Canadian National Railway Co engages in rail and related transportation business. Its services include rail, intermodal, trucking, supply chain services, business development and maps and network. Its offers their services in automotive, coal, fertilizer, food and beverages, forest products, dimensional loads, grain, metals and minerals and petroleum and chemicals industries.
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