Canadian National Railway (NYSE:CNI) Shares Sold by Huntington National Bank

Huntington National Bank lowered its position in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 1.6% in the third quarter, HoldingsChannel.com reports. The fund owned 43,942 shares of the transportation company’s stock after selling 692 shares during the quarter. Huntington National Bank’s holdings in Canadian National Railway were worth $5,148,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the company. GQG Partners LLC lifted its holdings in shares of Canadian National Railway by 0.8% during the first quarter. GQG Partners LLC now owns 11,424 shares of the transportation company’s stock worth $1,505,000 after purchasing an additional 93 shares during the period. Grove Bank & Trust lifted its stake in Canadian National Railway by 15.3% during the 3rd quarter. Grove Bank & Trust now owns 730 shares of the transportation company’s stock valued at $86,000 after acquiring an additional 97 shares during the period. B. Riley Wealth Advisors Inc. boosted its holdings in shares of Canadian National Railway by 2.5% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 4,156 shares of the transportation company’s stock valued at $547,000 after acquiring an additional 100 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its stake in shares of Canadian National Railway by 1.1% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 9,350 shares of the transportation company’s stock worth $1,105,000 after acquiring an additional 102 shares during the period. Finally, Blue Trust Inc. increased its stake in shares of Canadian National Railway by 19.3% in the second quarter. Blue Trust Inc. now owns 648 shares of the transportation company’s stock worth $77,000 after acquiring an additional 105 shares during the period. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Canadian National Railway Price Performance

Shares of NYSE CNI opened at $110.07 on Friday. The stock’s 50-day simple moving average is $114.31 and its 200-day simple moving average is $117.89. The firm has a market capitalization of $69.21 billion, a PE ratio of 17.64, a price-to-earnings-growth ratio of 2.52 and a beta of 0.89. Canadian National Railway has a fifty-two week low of $107.54 and a fifty-two week high of $134.02. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.49 and a current ratio of 0.64.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings data on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.02. The business had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.08 billion. Canadian National Railway had a net margin of 31.65% and a return on equity of 23.62%. The company’s revenue was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.26 EPS. As a group, equities research analysts forecast that Canadian National Railway will post 5.49 EPS for the current fiscal year.

Canadian National Railway Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be paid a $0.6108 dividend. The ex-dividend date is Monday, December 9th. This represents a $2.44 annualized dividend and a yield of 2.22%. Canadian National Railway’s dividend payout ratio is presently 39.26%.

Analyst Ratings Changes

CNI has been the subject of several analyst reports. Stifel Nicolaus boosted their price objective on Canadian National Railway from $130.00 to $132.00 and gave the company a “hold” rating in a report on Wednesday, October 23rd. Bank of America downgraded Canadian National Railway from a “buy” rating to a “neutral” rating and decreased their price target for the company from $129.00 to $122.00 in a report on Friday, October 4th. Stephens reaffirmed an “equal weight” rating and set a $116.00 price objective on shares of Canadian National Railway in a research note on Wednesday, October 23rd. Evercore ISI decreased their target price on shares of Canadian National Railway from $119.00 to $116.00 and set an “in-line” rating for the company in a research note on Wednesday, October 23rd. Finally, Sanford C. Bernstein cut their price objective on shares of Canadian National Railway from $130.67 to $126.29 and set a “market perform” rating for the company in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $125.48.

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.