Bank of New York Mellon Corp Sells 662,080 Shares of Canadian National Railway (NYSE:CNI)

Bank of New York Mellon Corp decreased its holdings in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 5.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,490,148 shares of the transportation company’s stock after selling 662,080 shares during the period. Bank of New York Mellon Corp owned about 1.99% of Canadian National Railway worth $1,267,875,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. National Bank of Canada FI lifted its position in shares of Canadian National Railway by 46.5% during the 3rd quarter. National Bank of Canada FI now owns 6,737,322 shares of the transportation company’s stock worth $789,030,000 after buying an additional 2,137,948 shares during the period. Canoe Financial LP bought a new stake in Canadian National Railway in the fourth quarter valued at $216,943,000. Point72 Asset Management L.P. acquired a new position in Canadian National Railway during the third quarter worth $159,907,000. Wellington Management Group LLP lifted its holdings in shares of Canadian National Railway by 4.4% during the third quarter. Wellington Management Group LLP now owns 18,562,189 shares of the transportation company’s stock valued at $2,175,935,000 after acquiring an additional 790,420 shares during the period. Finally, Toronto Dominion Bank boosted its stake in shares of Canadian National Railway by 64.5% in the 3rd quarter. Toronto Dominion Bank now owns 1,492,218 shares of the transportation company’s stock valued at $174,813,000 after purchasing an additional 584,832 shares in the last quarter. 80.74% of the stock is owned by institutional investors and hedge funds.

Canadian National Railway Price Performance

Canadian National Railway stock opened at $101.06 on Tuesday. The stock has a market cap of $63.49 billion, a price-to-earnings ratio of 19.74, a P/E/G ratio of 1.95 and a beta of 0.91. Canadian National Railway has a 12-month low of $98.69 and a 12-month high of $134.02. The company has a quick ratio of 0.48, a current ratio of 0.66 and a debt-to-equity ratio of 0.94. The business’s 50-day simple moving average is $102.61 and its 200 day simple moving average is $109.33.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its earnings results on Thursday, January 30th. The transportation company reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.39 by ($0.09). Canadian National Railway had a net margin of 26.09% and a return on equity of 22.48%. As a group, research analysts anticipate that Canadian National Railway will post 5.52 earnings per share for the current year.

Canadian National Railway Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be issued a dividend of $0.6159 per share. This represents a $2.46 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date is Monday, March 10th. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.61. Canadian National Railway’s payout ratio is currently 46.68%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Royal Bank of Canada dropped their target price on shares of Canadian National Railway from $174.00 to $171.00 and set an “outperform” rating for the company in a research report on Friday, January 31st. TD Securities raised shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a report on Monday, January 13th. Susquehanna cut their target price on shares of Canadian National Railway from $125.00 to $115.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Barclays decreased their price target on Canadian National Railway from $121.00 to $112.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Finally, Stifel Nicolaus raised their price target on Canadian National Railway from $120.00 to $125.00 and gave the company a “buy” rating in a report on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Canadian National Railway currently has an average rating of “Moderate Buy” and an average target price of $124.19.

Canadian National Railway Company 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.