Canadian National Railway Company $CNI Shares Sold by Mufg Securities Canada LTD.

Mufg Securities Canada LTD. cut its position in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 5.5% in the second quarter, HoldingsChannel reports. The institutional investor owned 765,088 shares of the transportation company’s stock after selling 44,314 shares during the period. Canadian National Railway makes up 2.4% of Mufg Securities Canada LTD.’s portfolio, making the stock its 15th biggest holding. Mufg Securities Canada LTD.’s holdings in Canadian National Railway were worth $91,157,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of CNI. AQR Capital Management LLC acquired a new position in shares of Canadian National Railway in the first quarter valued at approximately $311,000. Focus Partners Wealth increased its position in shares of Canadian National Railway by 11.1% during the first quarter. Focus Partners Wealth now owns 11,514 shares of the transportation company’s stock worth $1,122,000 after acquiring an additional 1,146 shares during the period. Schnieders Capital Management LLC. acquired a new stake in shares of Canadian National Railway in the second quarter valued at $202,000. EverSource Wealth Advisors LLC boosted its holdings in Canadian National Railway by 52.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,118 shares of the transportation company’s stock valued at $116,000 after purchasing an additional 383 shares during the period. Finally, Baird Financial Group Inc. grew its stake in Canadian National Railway by 2.9% during the 2nd quarter. Baird Financial Group Inc. now owns 17,094 shares of the transportation company’s stock worth $1,778,000 after purchasing an additional 474 shares in the last quarter. Institutional investors and hedge funds own 80.74% of the company’s stock.

Canadian National Railway Stock Down 1.0%

Canadian National Railway stock opened at $124.81 on Tuesday. The company has a market capitalization of $75.53 billion, a P/E ratio of 22.13, a PEG ratio of 2.35 and a beta of 0.95. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.61 and a current ratio of 0.87. Canadian National Railway Company has a fifty-two week low of $90.74 and a fifty-two week high of $131.55. The stock has a 50-day simple moving average of $125.40 and a 200-day simple moving average of $115.81.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings results on Friday, July 24th. The transportation company reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.11. The firm had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.26 billion. Canadian National Railway had a return on equity of 22.22% and a net margin of 26.92%.The firm’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.87 EPS. Equities research analysts expect that Canadian National Railway Company will post 5.81 earnings per share for the current year.

Canadian National Railway Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 8th will be given a dividend of $0.915 per share. This represents a $3.66 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Tuesday, September 8th. Canadian National Railway’s dividend payout ratio (DPR) is presently 47.34%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CNI. Weiss Ratings raised Canadian National Railway from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, August 13th. Susquehanna reissued a “neutral” rating and issued a $140.00 price objective (up from $138.00) on shares of Canadian National Railway in a research report on Tuesday, July 14th. Wells Fargo & Company boosted their target price on shares of Canadian National Railway from $135.00 to $145.00 and gave the stock an “overweight” rating in a research note on Monday, July 27th. Argus reaffirmed a “hold” rating on shares of Canadian National Railway in a report on Monday. Finally, Stephens upgraded Canadian National Railway to a “hold” rating in a report on Wednesday, July 8th. Nine equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $137.40.

Canadian National Railway Profile

Canadian National Railway Company (NYSE: CNI) is a Class I freight railway that operates an integrated rail network across Canada and the United States. Headquartered in Montreal, Quebec, CN provides long-haul freight transportation and related logistics services that connect major ports, industrial centers and inland markets throughout North America. Its transcontinental system enables cross-border movement of goods and supports supply chains that span coast-to-coast in Canada and into the central and eastern United States.

CN’s core business is the railborne transportation of a broad mix of commodities, including intermodal container traffic, forest and paper products, grain and other agricultural products, metallurgical and industrial products, petroleum and chemical products, coal and automotive shipments.