First Financial Bank Trust Division lessened its holdings in shares of Canadian National Railway (NYSE:CNI – Free Report) (TSE:CNR) by 0.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 81,506 shares of the transportation company’s stock after selling 193 shares during the period. First Financial Bank Trust Division’s holdings in Canadian National Railway were worth $9,868,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Ahrens Investment Partners LLC purchased a new position in Canadian National Railway during the 1st quarter worth approximately $26,000. CoreCap Advisors LLC purchased a new position in shares of Canadian National Railway in the 4th quarter valued at approximately $29,000. ICA Group Wealth Management LLC purchased a new position in shares of Canadian National Railway in the 4th quarter valued at approximately $53,000. Householder Group Estate & Retirement Specialist LLC purchased a new position in shares of Canadian National Railway in the 1st quarter valued at approximately $54,000. Finally, Massmutual Trust Co. FSB ADV grew its stake in shares of Canadian National Railway by 24.3% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 466 shares of the transportation company’s stock valued at $55,000 after purchasing an additional 91 shares during the last quarter. Institutional investors and hedge funds own 67.60% of the company’s stock.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on CNI shares. Stephens lowered their target price on Canadian National Railway from $124.00 to $122.00 in a research note on Wednesday, July 26th. Desjardins decreased their price target on Canadian National Railway from C$184.00 to C$181.00 in a research note on Wednesday, July 26th. Royal Bank of Canada lowered Canadian National Railway from an “outperform” rating to a “sector perform” rating in a report on Monday, July 31st. Raymond James raised Canadian National Railway from a “market perform” rating to an “outperform” rating in a report on Thursday. Finally, Argus lowered Canadian National Railway from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Canadian National Railway has a consensus rating of “Hold” and a consensus price target of $145.71.
Canadian National Railway Stock Performance
NYSE CNI opened at $111.29 on Thursday. The business’s 50-day moving average price is $115.32 and its 200 day moving average price is $116.97. Canadian National Railway has a twelve month low of $103.79 and a twelve month high of $129.89. The company has a market capitalization of $73.06 billion, a PE ratio of 19.06, a price-to-earnings-growth ratio of 2.91 and a beta of 0.91. The company has a current ratio of 0.93, a quick ratio of 0.72 and a debt-to-equity ratio of 0.78.
Canadian National Railway (NYSE:CNI – Get Free Report) (TSE:CNR) last released its earnings results on Tuesday, July 25th. The transportation company reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.06). The business had revenue of $3.02 billion for the quarter, compared to analysts’ expectations of $3.13 billion. Canadian National Railway had a return on equity of 24.62% and a net margin of 30.21%. On average, research analysts predict that Canadian National Railway will post 5.57 earnings per share for the current year.
Canadian National Railway Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 8th will be paid a dividend of $0.5996 per share. The ex-dividend date is Thursday, September 7th. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.58. This represents a $2.40 annualized dividend and a yield of 2.16%. Canadian National Railway’s dividend payout ratio is currently 40.92%.
About Canadian National Railway
Canadian National Railway Company, together with its subsidiaries, engages in rail and related transportation business. The company offers rail services, which include equipment, custom brokage services, transloading and distribution, business development and real estate, and private car storage services; and intermodal services including temperature controlled cargo, port partnership, transloading and distribution, logistic parks, customs brokerage, trucking, and moving grains in containers.
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