Manning & Napier Advisors LLC Reduces Holdings in Canadian National Railway (NYSE:CNI)

Manning & Napier Advisors LLC lessened its position in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 2.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,109,174 shares of the transportation company’s stock after selling 22,061 shares during the period. Canadian National Railway makes up 1.3% of Manning & Napier Advisors LLC’s investment portfolio, making the stock its 27th largest holding. Manning & Napier Advisors LLC’s holdings in Canadian National Railway were worth $112,592,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Forsta AP Fonden lifted its stake in shares of Canadian National Railway by 0.4% in the 4th quarter. Forsta AP Fonden now owns 139,700 shares of the transportation company’s stock worth $14,179,000 after acquiring an additional 500 shares during the period. Mount Yale Investment Advisors LLC purchased a new position in Canadian National Railway during the 4th quarter valued at about $233,000. Union Bancaire Privee UBP SA purchased a new position in Canadian National Railway during the 4th quarter valued at about $1,050,000. Blue Trust Inc. grew its holdings in shares of Canadian National Railway by 26.5% during the fourth quarter. Blue Trust Inc. now owns 1,646 shares of the transportation company’s stock worth $167,000 after buying an additional 345 shares in the last quarter. Finally, Marshall Financial Group LLC grew its holdings in shares of Canadian National Railway by 4.5% during the fourth quarter. Marshall Financial Group LLC now owns 8,752 shares of the transportation company’s stock worth $888,000 after buying an additional 379 shares in the last quarter. Institutional investors and hedge funds own 80.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on CNI shares. Royal Bank of Canada reiterated an “outperform” rating and set a $174.00 price target on shares of Canadian National Railway in a report on Friday, January 10th. Stifel Nicolaus raised shares of Canadian National Railway from a “hold” rating to a “buy” rating and decreased their target price for the stock from $132.00 to $120.00 in a research report on Thursday, January 16th. Veritas raised shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 23rd. Susquehanna decreased their target price on shares of Canadian National Railway from $125.00 to $115.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Finally, Jefferies Financial Group raised shares of Canadian National Railway from a “hold” rating to a “buy” rating and set a $120.00 target price on the stock in a research report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $124.02.

Canadian National Railway Stock Performance

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

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.