Truist Financial Corp cut its holdings in shares of Canadian National Railway (NYSE:CNI – Free Report) (TSE:CNR) by 5.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,515 shares of the transportation company’s stock after selling 2,106 shares during the period. Truist Financial Corp’s holdings in Canadian National Railway were worth $3,954,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. New England Capital Financial Advisors LLC acquired a new stake in Canadian National Railway in the 4th quarter worth $25,000. Ahrens Investment Partners LLC acquired a new stake in shares of Canadian National Railway during the 1st quarter valued at about $26,000. CoreCap Advisors LLC acquired a new stake in shares of Canadian National Railway during the 4th quarter valued at about $29,000. ICA Group Wealth Management LLC acquired a new stake in shares of Canadian National Railway during the 4th quarter valued at about $53,000. Finally, Householder Group Estate & Retirement Specialist LLC acquired a new stake in shares of Canadian National Railway during the 1st quarter valued at about $54,000. Hedge funds and other institutional investors own 64.89% of the company’s stock.
Analyst Upgrades and Downgrades
CNI has been the subject of several analyst reports. Argus downgraded shares of Canadian National Railway from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Wells Fargo & Company lifted their price target on shares of Canadian National Railway from $115.00 to $125.00 in a report on Tuesday, April 25th. Scotiabank lifted their price target on shares of Canadian National Railway from C$169.00 to C$172.00 in a report on Thursday, May 4th. Barclays dropped their target price on shares of Canadian National Railway from $122.00 to $119.00 in a research note on Wednesday, July 26th. Finally, Morgan Stanley raised shares of Canadian National Railway from an “equal weight” rating to an “overweight” rating in a research note on Thursday, May 4th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $145.71.
Canadian National Railway Price Performance
Shares of CNI opened at $116.93 on Monday. The firm has a market capitalization of $77.05 billion, a PE ratio of 20.02, a PEG ratio of 3.14 and a beta of 0.90. The company’s 50-day moving average is $117.91 and its 200-day moving average is $117.89. Canadian National Railway has a fifty-two week low of $103.79 and a fifty-two week high of $129.89. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.93 and a quick ratio of 0.72.
Canadian National Railway Increases Dividend
The company also recently disclosed 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. This represents a $2.40 dividend on an annualized basis and a yield of 2.05%. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.58. The ex-dividend date is Thursday, September 7th. Canadian National Railway’s dividend payout ratio is presently 40.58%.
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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