Bank of New York Mellon Corp Trims Position in Canadian National Railway Company $CNI

Bank of New York Mellon Corp cut its holdings in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 52.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,713,579 shares of the transportation company’s stock after selling 6,397,027 shares during the period. Bank of New York Mellon Corp’s holdings in Canadian National Railway were worth $594,441,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in CNI. GAMMA Investing LLC increased its stake in shares of Canadian National Railway by 31.3% during the first quarter. GAMMA Investing LLC now owns 718 shares of the transportation company’s stock valued at $70,000 after buying an additional 171 shares during the period. Principal Financial Group Inc. increased its stake in shares of Canadian National Railway by 3.7% during the first quarter. Principal Financial Group Inc. now owns 94,400 shares of the transportation company’s stock valued at $9,185,000 after buying an additional 3,400 shares during the period. U.S. Capital Wealth Advisors LLC increased its stake in shares of Canadian National Railway by 2.1% during the first quarter. U.S. Capital Wealth Advisors LLC now owns 7,368 shares of the transportation company’s stock valued at $718,000 after buying an additional 154 shares during the period. Crossmark Global Holdings Inc. increased its stake in shares of Canadian National Railway by 217.1% during the first quarter. Crossmark Global Holdings Inc. now owns 91,349 shares of the transportation company’s stock valued at $8,903,000 after buying an additional 62,544 shares during the period. Finally, Linden Thomas Advisory Services LLC increased its stake in shares of Canadian National Railway by 12.6% during the first quarter. Linden Thomas Advisory Services LLC now owns 3,682 shares of the transportation company’s stock valued at $359,000 after buying an additional 413 shares during the period. 80.74% of the stock is owned by hedge funds and other institutional investors.

Canadian National Railway Trading Down 0.3%

NYSE CNI opened at $95.60 on Tuesday. The company has a quick ratio of 0.58, a current ratio of 0.82 and a debt-to-equity ratio of 0.90. Canadian National Railway Company has a twelve month low of $91.07 and a twelve month high of $114.13. The firm has a market capitalization of $59.15 billion, a PE ratio of 18.38, a P/E/G ratio of 2.13 and a beta of 0.96. The stock’s 50 day moving average is $95.03 and its 200 day moving average is $98.70.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings results on Friday, October 31st. The transportation company reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.05. The company had revenue of $2.99 billion for the quarter, compared to analyst estimates of $4.15 billion. Canadian National Railway had a return on equity of 21.71% and a net margin of 26.63%.The firm’s revenue was up 1.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.72 earnings per share. Research analysts forecast that Canadian National Railway Company will post 5.52 earnings per share for the current fiscal year.

Canadian National Railway Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 9th will be issued a $0.8875 dividend. This represents a $3.55 annualized dividend and a yield of 3.7%. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Tuesday, December 9th. Canadian National Railway’s dividend payout ratio is presently 48.96%.

Wall Street Analyst Weigh In

CNI has been the topic of several research analyst reports. Royal Bank Of Canada boosted their target price on Canadian National Railway from $148.00 to $158.00 and gave the company an “outperform” rating in a research note on Monday. Wells Fargo & Company reduced their target price on Canadian National Railway from $117.00 to $110.00 and set an “overweight” rating on the stock in a research note on Monday, October 6th. Evercore ISI lifted their price target on Canadian National Railway from $98.00 to $103.00 and gave the company an “in-line” rating in a research report on Monday. Susquehanna lifted their price target on Canadian National Railway from $115.00 to $116.00 and gave the company a “positive” rating in a research report on Monday. Finally, Zacks Research lowered Canadian National Railway from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $114.00.

Canadian National Railway 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.