Fifth Third Bancorp Sells 502 Shares of Canadian National Railway Company $CNI

Fifth Third Bancorp lowered its position in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 3.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,951 shares of the transportation company’s stock after selling 502 shares during the period. Fifth Third Bancorp’s holdings in Canadian National Railway were worth $1,451,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Dagco Inc. bought a new stake in shares of Canadian National Railway during the first quarter valued at approximately $32,000. Bruce G. Allen Investments LLC increased its position in shares of Canadian National Railway by 44.2% during the first quarter. Bruce G. Allen Investments LLC now owns 346 shares of the transportation company’s stock valued at $34,000 after acquiring an additional 106 shares in the last quarter. CX Institutional bought a new stake in shares of Canadian National Railway during the first quarter valued at approximately $39,000. Brooklyn Investment Group grew its position in Canadian National Railway by 354.3% in the 1st quarter. Brooklyn Investment Group now owns 427 shares of the transportation company’s stock worth $42,000 after purchasing an additional 333 shares during the period. Finally, MassMutual Private Wealth & Trust FSB grew its position in Canadian National Railway by 42.7% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 558 shares of the transportation company’s stock worth $58,000 after purchasing an additional 167 shares during the period. Institutional investors own 80.74% of the company’s stock.

Canadian National Railway Trading Up 0.5%

Shares of Canadian National Railway stock opened at $92.84 on Friday. The company’s fifty day simple moving average is $94.64 and its 200-day simple moving average is $99.12. The stock has a market capitalization of $57.64 billion, a PE ratio of 17.85, a P/E/G ratio of 2.14 and a beta of 0.94. Canadian National Railway Company has a 1-year low of $91.07 and a 1-year high of $118.14. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.82 and a quick ratio of 0.58.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings results on Tuesday, July 22nd. The transportation company reported $1.35 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.02). The business had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $4.34 billion. Canadian National Railway had a return on equity of 21.71% and a net margin of 26.63%.The company’s revenue was down 1.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.84 EPS. As a group, equities analysts anticipate that Canadian National Railway Company will post 5.52 earnings per share for the current year.

Canadian National Railway Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 8th will be paid a dividend of $0.6507 per share. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.62. The ex-dividend date is Monday, September 8th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 2.8%. Canadian National Railway’s dividend payout ratio is presently 50.19%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CNI. Susquehanna cut their target price on shares of Canadian National Railway from $120.00 to $115.00 and set a “positive” rating for the company in a research report on Thursday. Wells Fargo & Company cut their target price on shares of Canadian National Railway from $120.00 to $117.00 and set an “overweight” rating for the company in a research report on Wednesday, July 23rd. Raymond James Financial raised shares of Canadian National Railway from a “market perform” rating to an “outperform” rating in a research report on Thursday, July 17th. Evercore ISI downgraded shares of Canadian National Railway from an “outperform” rating to an “in-line” rating and set a $105.00 target price for the company. in a research report on Wednesday, July 23rd. Finally, Royal Bank Of Canada cut their target price on shares of Canadian National Railway from $161.00 to $157.00 and set an “outperform” rating for the company in a research report on Wednesday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Canadian National Railway presently has an average rating of “Hold” and a consensus target price of $117.94.

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.