M&T Bank Corp lessened its stake in Canadian National Railway Company (NYSE:CNI – Free Report) (TSE:CNR) by 4.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,507 shares of the transportation company’s stock after selling 281 shares during the period. M&T Bank Corp’s holdings in Canadian National Railway were worth $634,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors also recently bought and sold shares of the company. Sequoia Financial Advisors LLC lifted its position in Canadian National Railway by 6.6% in the fourth quarter. Sequoia Financial Advisors LLC now owns 6,397 shares of the transportation company’s stock valued at $649,000 after purchasing an additional 397 shares during the period. Frank Rimerman Advisors LLC acquired a new stake in Canadian National Railway in the fourth quarter valued at about $205,000. Harbour Investments Inc. lifted its position in Canadian National Railway by 5.0% in the fourth quarter. Harbour Investments Inc. now owns 3,302 shares of the transportation company’s stock valued at $335,000 after purchasing an additional 156 shares during the period. Generali Asset Management SPA SGR acquired a new stake in Canadian National Railway in the fourth quarter valued at about $3,226,000. Finally, Sandy Spring Bank increased its holdings in Canadian National Railway by 459.7% in the fourth quarter. Sandy Spring Bank now owns 666 shares of the transportation company’s stock valued at $68,000 after buying an additional 547 shares in the last quarter. Institutional investors and hedge funds own 80.74% of the company’s stock.
Analyst Ratings Changes
A number of research analysts have recently weighed in on CNI shares. Susquehanna raised their price objective on shares of Canadian National Railway from $120.00 to $122.00 and gave the stock a “positive” rating in a research note on Tuesday, June 24th. Jefferies Financial Group lowered their price objective on shares of Canadian National Railway from $120.00 to $110.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. Stifel Nicolaus reduced their target price on shares of Canadian National Railway from $125.00 to $115.00 and set a “buy” rating for the company in a report on Monday, April 14th. Barclays lifted their price target on Canadian National Railway from $101.00 to $106.00 and gave the company an “equal weight” rating in a report on Thursday, July 10th. Finally, Evercore ISI reduced their price target on Canadian National Railway from $119.00 to $114.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $120.86.
Canadian National Railway Stock Performance
NYSE:CNI opened at $103.00 on Wednesday. The company has a quick ratio of 0.43, a current ratio of 0.62 and a debt-to-equity ratio of 0.88. The business’s 50-day moving average price is $104.57 and its two-hundred day moving average price is $101.66. The stock has a market cap of $64.53 billion, a P/E ratio of 20.08, a PEG ratio of 2.09 and a beta of 0.97. Canadian National Railway Company has a twelve month low of $91.65 and a twelve month high of $123.96.
Canadian National Railway (NYSE:CNI – Get Free Report) (TSE:CNR) last issued its quarterly earnings data on Thursday, May 1st. The transportation company reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.03. The company had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $4.38 billion. Canadian National Railway had a net margin of 26.19% and a return on equity of 22.29%. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.72 earnings per share. As a group, equities analysts predict that Canadian National Railway Company will post 5.52 EPS for the current fiscal year.
Canadian National Railway Increases Dividend
The firm also recently announced a dividend, which was paid on Monday, June 30th. Shareholders of record on Tuesday, June 10th were given a dividend of $0.8875 per share. This is an increase from Canadian National Railway’s previous dividend of $0.29. The ex-dividend date was Monday, June 9th. This represents a yield of 2.47%. Canadian National Railway’s dividend payout ratio (DPR) is 50.49%.
Canadian National Railway Company Profile
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.
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