Canadian National Railway (NYSE:CNI) Sees Strong Trading Volume

Canadian National Railway (NYSE:CNIGet Rating) (TSE:CNR) saw strong trading volume on Monday . 36,634 shares were traded during trading, a decline of 97% from the previous session’s volume of 1,315,609 shares.The stock last traded at $124.20 and had previously closed at $122.01.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Credit Suisse Group assumed coverage on shares of Canadian National Railway in a report on Monday, June 27th. They set a “neutral” rating and a $122.00 price target on the stock. StockNews.com cut shares of Canadian National Railway from a “buy” rating to a “hold” rating in a report on Monday. Scotiabank increased their price target on shares of Canadian National Railway from C$150.00 to C$152.00 in a report on Wednesday, July 27th. Citigroup cut their price target on shares of Canadian National Railway from $140.00 to $132.00 and set a “buy” rating on the stock in a report on Thursday, May 19th. Finally, Susquehanna dropped their target price on shares of Canadian National Railway from $137.00 to $127.00 in a report on Wednesday, July 6th. Fourteen research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $141.36.

Canadian National Railway Stock Down 2.8 %

The stock has a market capitalization of $82.18 billion, a P/E ratio of 20.95, a P/E/G ratio of 1.90 and a beta of 0.86. The company’s 50-day moving average price is $120.77 and its 200 day moving average price is $120.25. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.55 and a current ratio of 0.71.

Canadian National Railway Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Thursday, September 8th will be given a dividend of $0.569 per share. The ex-dividend date is Wednesday, September 7th. This represents a $2.28 annualized dividend and a dividend yield of 1.89%. Canadian National Railway’s payout ratio is 39.65%.

Institutional Trading of Canadian National Railway

Several institutional investors and hedge funds have recently modified their holdings of the company. M&G Investment Management Ltd. raised its position in shares of Canadian National Railway by 4.5% during the 2nd quarter. M&G Investment Management Ltd. now owns 293,995 shares of the transportation company’s stock valued at $33,116,000 after purchasing an additional 12,616 shares during the period. Stock Yards Bank & Trust Co. increased its holdings in Canadian National Railway by 103.5% in the 2nd quarter. Stock Yards Bank & Trust Co. now owns 4,030 shares of the transportation company’s stock valued at $453,000 after acquiring an additional 2,050 shares during the last quarter. Captrust Financial Advisors increased its holdings in Canadian National Railway by 9.1% in the 2nd quarter. Captrust Financial Advisors now owns 30,485 shares of the transportation company’s stock valued at $3,437,000 after acquiring an additional 2,541 shares during the last quarter. Legal & General Group Plc increased its holdings in Canadian National Railway by 0.8% in the 2nd quarter. Legal & General Group Plc now owns 4,729,670 shares of the transportation company’s stock valued at $530,857,000 after acquiring an additional 39,398 shares during the last quarter. Finally, ExodusPoint Capital Management LP increased its holdings in Canadian National Railway by 3.9% in the 2nd quarter. ExodusPoint Capital Management LP now owns 117,699 shares of the transportation company’s stock valued at $13,238,000 after acquiring an additional 4,383 shares during the last quarter. 79.45% of the stock is currently owned by institutional investors.

About Canadian National Railway

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Canadian National Railway Company, together with its subsidiaries, engages in the rail and related transportation business. The company's portfolio of goods includes petroleum and chemicals, grain and fertilizers, coal, metals and minerals, forest products, intermodal, and automotive products serving exporters, importers, retailers, farmers, and manufacturers.

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