Raymond James Trust N.A. Trims Stake in Canadian National Railway (NYSE:CNI)

Raymond James Trust N.A. lowered its holdings in Canadian National Railway (NYSE:CNIGet Rating) (TSE:CNR) by 6.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,070 shares of the transportation company’s stock after selling 195 shares during the quarter. Raymond James Trust N.A.’s holdings in Canadian National Railway were worth $332,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of CNI. Deutsche Bank AG raised its holdings in shares of Canadian National Railway by 59.3% in the 2nd quarter. Deutsche Bank AG now owns 8,698,104 shares of the transportation company’s stock valued at $978,277,000 after buying an additional 3,237,217 shares during the period. Egerton Capital UK LLP raised its holdings in shares of Canadian National Railway by 25.9% in the 2nd quarter. Egerton Capital UK LLP now owns 11,822,882 shares of the transportation company’s stock valued at $1,329,720,000 after buying an additional 2,434,495 shares during the period. Millennium Management LLC raised its holdings in shares of Canadian National Railway by 532.0% in the 2nd quarter. Millennium Management LLC now owns 1,949,250 shares of the transportation company’s stock valued at $219,250,000 after buying an additional 1,640,832 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Canadian National Railway by 166.7% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,772,695 shares of the transportation company’s stock valued at $199,375,000 after buying an additional 1,108,104 shares during the period. Finally, Mackenzie Financial Corp raised its holdings in shares of Canadian National Railway by 8.0% in the 2nd quarter. Mackenzie Financial Corp now owns 11,784,660 shares of the transportation company’s stock valued at $1,325,042,000 after buying an additional 871,935 shares during the period. Hedge funds and other institutional investors own 86.96% of the company’s stock.

Canadian National Railway Stock Up 0.5 %

Shares of NYSE CNI opened at $123.69 on Monday. The stock has a market cap of $83.23 billion, a PE ratio of 22.49, a price-to-earnings-growth ratio of 1.89 and a beta of 0.90. The company has a quick ratio of 0.80, a current ratio of 1.01 and a debt-to-equity ratio of 0.66. Canadian National Railway has a 52-week low of $103.79 and a 52-week high of $137.19. The business has a 50-day moving average price of $123.06 and a 200 day moving average price of $119.42.

Canadian National Railway (NYSE:CNIGet Rating) (TSE:CNR) last announced its earnings results on Tuesday, October 25th. The transportation company reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.12. The firm had revenue of $4.51 billion during the quarter, compared to analysts’ expectations of $4.32 billion. Canadian National Railway had a return on equity of 22.23% and a net margin of 29.99%. The business’s revenue was up 25.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.21 EPS. Equities research analysts forecast that Canadian National Railway will post 5.56 earnings per share for the current year.

Canadian National Railway Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 29th. Shareholders of record on Thursday, December 8th were paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend was Wednesday, December 7th. Canadian National Railway’s dividend payout ratio is presently 39.27%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on CNI shares. National Bank Financial boosted their price objective on Canadian National Railway from C$173.00 to C$175.00 in a report on Friday, December 16th. Stifel Nicolaus lowered their target price on Canadian National Railway from $119.00 to $118.00 and set a “hold” rating for the company in a research note on Monday, October 17th. StockNews.com raised Canadian National Railway from a “hold” rating to a “buy” rating in a research note on Tuesday, January 10th. Barclays boosted their target price on Canadian National Railway from $118.00 to $127.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 11th. Finally, Susquehanna lowered their target price on Canadian National Railway from $129.00 to $109.00 in a research note on Wednesday, September 28th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $142.60.

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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Institutional Ownership by Quarter for Canadian National Railway (NYSE:CNI)

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