Van ECK Associates Corp Has $18.40 Million Stake in Canadian National Railway (NYSE:CNI)

Van ECK Associates Corp lowered its stake in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 22.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 181,350 shares of the transportation company’s stock after selling 51,760 shares during the quarter. Van ECK Associates Corp’s holdings in Canadian National Railway were worth $18,404,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Fortitude Family Office LLC raised its position in shares of Canadian National Railway by 738.7% in the 3rd quarter. Fortitude Family Office LLC now owns 260 shares of the transportation company’s stock valued at $30,000 after buying an additional 229 shares in the last quarter. Coastline Trust Co acquired a new position in Canadian National Railway during the third quarter valued at approximately $34,000. Arlington Trust Co LLC bought a new stake in Canadian National Railway during the fourth quarter worth $30,000. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of Canadian National Railway by 48.2% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 332 shares of the transportation company’s stock valued at $34,000 after purchasing an additional 108 shares in the last quarter. Finally, Reston Wealth Management LLC bought a new position in shares of Canadian National Railway in the 3rd quarter valued at $41,000. Institutional investors own 80.74% of the company’s stock.

Analysts Set New Price Targets

CNI has been the topic of several research analyst reports. Barclays reduced their price objective on Canadian National Railway from $121.00 to $112.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Stephens reaffirmed an “equal weight” rating and set a $116.00 price target on shares of Canadian National Railway in a report on Wednesday, October 23rd. 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. Stifel Nicolaus boosted their target price on shares of Canadian National Railway from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Finally, Bank of America dropped their price target 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. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $124.19.

Canadian National Railway Trading Down 0.9 %

CNI opened at $101.69 on Friday. Canadian National Railway has a twelve month low of $98.69 and a twelve month high of $134.02. The company has a fifty day moving average of $102.88 and a 200-day moving average of $109.79. The stock has a market cap of $63.95 billion, a PE ratio of 19.86, a price-to-earnings-growth ratio of 1.94 and a beta of 0.91. 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 quarterly earnings results on Thursday, January 30th. The transportation company reported $1.30 earnings per share for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.09). Canadian National Railway had a return on equity of 22.48% and a net margin of 26.09%. On average, sell-side analysts predict that Canadian National Railway will post 5.49 EPS for the current year.

Canadian National Railway Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be issued a dividend of $0.6159 per share. This represents a $2.46 dividend on an annualized basis and a dividend yield of 2.42%. This is a boost 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 46.68%.

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.