Cullen Frost Bankers Inc. Grows Stake in Canadian National Railway (NYSE:CNI)

Cullen Frost Bankers Inc. increased its stake in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 52.7% in the 4th quarter, HoldingsChannel reports. The fund owned 8,332 shares of the transportation company’s stock after acquiring an additional 2,877 shares during the period. Cullen Frost Bankers Inc.’s holdings in Canadian National Railway were worth $1,047,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of CNI. Artisan Partners Limited Partnership purchased a new position in shares of Canadian National Railway during the third quarter valued at approximately $273,243,000. Morgan Stanley increased its holdings in Canadian National Railway by 53.2% during the 3rd quarter. Morgan Stanley now owns 2,879,091 shares of the transportation company’s stock worth $311,892,000 after purchasing an additional 1,000,244 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its position in Canadian National Railway by 5.0% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 13,067,300 shares of the transportation company’s stock valued at $1,421,649,000 after purchasing an additional 625,500 shares in the last quarter. Quadrature Capital Ltd lifted its holdings in shares of Canadian National Railway by 98.9% in the 3rd quarter. Quadrature Capital Ltd now owns 1,229,900 shares of the transportation company’s stock worth $134,136,000 after buying an additional 611,400 shares during the period. Finally, Deutsche Bank AG grew its position in shares of Canadian National Railway by 7.3% during the 3rd quarter. Deutsche Bank AG now owns 5,575,661 shares of the transportation company’s stock worth $604,011,000 after buying an additional 378,513 shares in the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Canadian National Railway Trading Up 1.1 %

Shares of NYSE:CNI opened at $127.25 on Friday. Canadian National Railway has a 52-week low of $103.96 and a 52-week high of $134.02. The stock has a market cap of $81.27 billion, a price-to-earnings ratio of 20.30, a PEG ratio of 2.21 and a beta of 0.89. The company has a quick ratio of 0.46, a current ratio of 0.60 and a debt-to-equity ratio of 0.84. The business has a 50-day moving average price of $128.42 and a 200-day moving average price of $123.34.

Canadian National Railway Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be given a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 1.96%. The ex-dividend date is Friday, June 7th. Canadian National Railway’s dividend payout ratio is currently 39.71%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Stephens reaffirmed an “equal weight” rating and issued a $140.00 price objective on shares of Canadian National Railway in a research note on Wednesday, April 24th. StockNews.com cut Canadian National Railway from a “buy” rating to a “hold” rating in a research report on Friday. Citigroup boosted their price target on Canadian National Railway from $121.00 to $128.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 24th. Jefferies Financial Group started coverage on shares of Canadian National Railway in a report on Monday, April 8th. They issued a “hold” rating and a $130.00 target price for the company. Finally, Wells Fargo & Company raised their price target on shares of Canadian National Railway from $110.00 to $125.00 and gave the company an “equal weight” rating in a report on Wednesday, January 24th. Eighteen investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $149.05.

Canadian National Railway Company Profile

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.