Manning & Napier Advisors LLC Trims Stock Position in Canadian National Railway (NYSE:CNI)

Manning & Napier Advisors LLC cut its stake in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 2.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,109,174 shares of the transportation company’s stock after selling 22,061 shares during the quarter. Canadian National Railway makes up approximately 1.3% of Manning & Napier Advisors LLC’s holdings, making the stock its 27th biggest holding. Manning & Napier Advisors LLC owned about 0.18% of Canadian National Railway worth $112,592,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Wellington Management Group LLP increased its holdings in Canadian National Railway by 4.4% during the third quarter. Wellington Management Group LLP now owns 18,562,189 shares of the transportation company’s stock valued at $2,175,935,000 after buying an additional 790,420 shares during the period. National Bank of Canada FI increased its holdings in Canadian National Railway by 46.5% during the third quarter. National Bank of Canada FI now owns 6,737,322 shares of the transportation company’s stock valued at $789,030,000 after buying an additional 2,137,948 shares during the period. Fiera Capital Corp increased its holdings in Canadian National Railway by 0.7% during the third quarter. Fiera Capital Corp now owns 5,482,524 shares of the transportation company’s stock valued at $642,828,000 after buying an additional 39,063 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Canadian National Railway by 5.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,962,972 shares of the transportation company’s stock valued at $464,002,000 after acquiring an additional 202,303 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Canadian National Railway by 6.6% in the third quarter. Geode Capital Management LLC now owns 2,562,480 shares of the transportation company’s stock valued at $302,895,000 after acquiring an additional 158,757 shares in the last quarter. 80.74% of the stock is owned by hedge funds and other institutional investors.

Canadian National Railway Stock Down 0.1 %

CNI traded down $0.14 during trading hours on Wednesday, hitting $104.98. 130,697 shares of the company’s stock were exchanged, compared to its average volume of 1,213,599. Canadian National Railway has a 12-month low of $98.96 and a 12-month high of $134.02. The firm has a 50 day moving average of $104.72 and a 200 day moving average of $111.16. The firm has a market cap of $66.01 billion, a P/E ratio of 16.84, a price-to-earnings-growth ratio of 2.36 and a beta of 0.91. The company has a current ratio of 0.64, a quick ratio of 0.49 and a debt-to-equity ratio of 0.96.

Analyst Ratings Changes

CNI has been the subject of several research reports. Susquehanna lowered their price objective on shares of Canadian National Railway from $125.00 to $115.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Stephens restated an “equal weight” rating and set a $116.00 target price on shares of Canadian National Railway in a research report on Wednesday, October 23rd. Wells Fargo & Company decreased their target price on shares of 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. Jefferies Financial Group upgraded shares of Canadian National Railway from a “hold” rating to a “buy” rating and set a $120.00 target price for the company in a research report on Friday, January 10th. Finally, Bank of America cut their target price on shares of 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. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Canadian National Railway presently has an average rating of “Moderate Buy” and an average price target of $124.02.

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.