Canadian National Railway (NYSE:CNI) Shares Sold by First Merchants Corp

First Merchants Corp cut its holdings in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 0.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,456 shares of the transportation company’s stock after selling 190 shares during the quarter. First Merchants Corp’s holdings in Canadian National Railway were worth $4,204,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in CNI. FIL Ltd grew its position in shares of Canadian National Railway by 22.7% in the first quarter. FIL Ltd now owns 9,901,396 shares of the transportation company’s stock valued at $886,372,000 after purchasing an additional 1,829,102 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new stake in Canadian National Railway during the first quarter worth approximately $165,551,000. Thoroughbred Financial Services LLC acquired a new stake in Canadian National Railway during the second quarter worth approximately $108,547,000. Lazard Asset Management LLC boosted its position in Canadian National Railway by 348.2% during the first quarter. Lazard Asset Management LLC now owns 1,262,495 shares of the transportation company’s stock worth $112,967,000 after acquiring an additional 980,798 shares during the last quarter. Finally, Toronto Dominion Bank boosted its position in Canadian National Railway by 16.0% during the first quarter. Toronto Dominion Bank now owns 4,811,058 shares of the transportation company’s stock worth $430,788,000 after acquiring an additional 664,452 shares during the last quarter. Institutional investors and hedge funds own 54.52% of the company’s stock.

A number of analysts recently issued reports on the stock. ValuEngine lowered shares of Canadian National Railway from a “buy” rating to a “hold” rating in a research report on Thursday. Stifel Nicolaus raised their target price on shares of Canadian National Railway from $87.00 to $90.00 and gave the stock a “hold” rating in a research report on Tuesday, April 30th. Royal Bank of Canada lowered shares of Canadian National Railway from an “outperform” rating to a “sector perform” rating and set a $92.00 target price on the stock. in a research report on Tuesday, April 30th. Credit Suisse Group increased their price target on shares of Canadian National Railway from $101.00 to $104.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Finally, BMO Capital Markets raised shares of Canadian National Railway to a “market perform” rating and set a $125.00 price target on the stock in a research note on Tuesday, April 30th. They noted that the move was a valuation call. Ten research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Canadian National Railway currently has an average rating of “Hold” and an average price target of $98.78.

NYSE:CNI opened at $91.66 on Monday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.54 and a current ratio of 0.69. The stock has a market capitalization of $66.06 billion, a P/E ratio of 22.03, a P/E/G ratio of 1.83 and a beta of 1.03. Canadian National Railway has a fifty-two week low of $70.36 and a fifty-two week high of $96.49. The stock’s 50 day moving average is $93.24.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its earnings results on Tuesday, July 23rd. The transportation company reported $1.73 EPS for the quarter, beating the Zacks’ consensus estimate of $1.26 by $0.47. Canadian National Railway had a net margin of 29.50% and a return on equity of 24.15%. The business had revenue of $3.96 billion for the quarter, compared to the consensus estimate of $3.94 billion. During the same quarter last year, the firm posted $1.51 EPS. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. As a group, research analysts anticipate that Canadian National Railway will post 4.71 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be paid a dividend of $0.411 per share. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Friday, September 6th. This represents a $1.64 annualized dividend and a yield of 1.79%. Canadian National Railway’s payout ratio is 38.94%.

Canadian National Railway Profile

Canadian National Railway Company engages in rail and related transportation business. The company transports cargo serving exporters, importers, retailers, farmers, and manufacturers. It operates a network of approximately 20,000 route miles of track spans Canada and mid-America connecting the Atlantic, the Pacific, and the Gulf of Mexico.

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Institutional Ownership by Quarter for Canadian National Railway (NYSE:CNI)

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