Ronald Blue Trust Inc. trimmed its stake in Canadian National Railway (NYSE:CNI – Free Report) (TSE:CNR) by 50.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 315 shares of the transportation company’s stock after selling 322 shares during the period. Ronald Blue Trust Inc.’s holdings in Canadian National Railway were worth $37,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ahrens Investment Partners LLC purchased a new stake in shares of Canadian National Railway in the 1st quarter worth $26,000. CoreCap Advisors LLC purchased a new stake in Canadian National Railway in the 4th quarter worth $29,000. ICA Group Wealth Management LLC purchased a new stake in Canadian National Railway in the 4th quarter worth $53,000. Householder Group Estate & Retirement Specialist LLC purchased a new stake in Canadian National Railway in the 1st quarter worth $54,000. Finally, Massmutual Trust Co. FSB ADV increased its stake in 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 worth $55,000 after buying an additional 91 shares in the last quarter. 67.60% of the stock is currently owned by hedge funds and other institutional investors.
Canadian National Railway Stock Down 1.2 %
Shares of NYSE:CNI opened at $108.33 on Friday. Canadian National Railway has a 1 year low of $103.79 and a 1 year high of $129.89. The business has a 50 day simple moving average of $113.87 and a two-hundred day simple moving average of $116.55. The firm has a market capitalization of $70.80 billion, a PE ratio of 18.55, a price-to-earnings-growth ratio of 2.95 and a beta of 0.91. 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 firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 8th were given a dividend of $0.5996 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend was Thursday, September 7th. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.58. Canadian National Railway’s payout ratio is 39.73%.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on CNI shares. CIBC cut their price target on Canadian National Railway from C$175.00 to C$173.00 and set an “outperformer” rating for the company in a research note on Thursday, September 21st. Susquehanna cut their price target on Canadian National Railway from $122.00 to $120.00 in a research note on Wednesday, July 26th. StockNews.com initiated coverage on Canadian National Railway in a research report on Thursday, August 17th. They set a “hold” rating for the company. Stephens cut their price objective on Canadian National Railway from $124.00 to $122.00 in a research report on Wednesday, July 26th. Finally, Barclays cut their price objective on Canadian National Railway from $122.00 to $119.00 in a research report on Wednesday, July 26th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Canadian National Railway has an average rating of “Hold” and an average price target of $145.88.
Get Our Latest Analysis on CNI
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.
Featured Stories
- Five stocks we like better than Canadian National Railway
- Where Do I Find 52-Week Highs and Lows?
- CarMax Slides On Earnings Disappointment, Time To Celebrate?
- The Dividend Kings With Highest Yield
- The Next Stage Of Google’s Rally Just Started
- NYSE Stocks Give Investors a Variety of Quality Options
- Can Investors Win the Race with Dividend Achiever Nike?
Receive News & Ratings for Canadian National Railway Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canadian National Railway and related companies with MarketBeat.com's FREE daily email newsletter.
