First Financial Bank Trust Division Lowers Position in Canadian National Railway (NYSE:CNI)

First Financial Bank Trust Division reduced its stake in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 60.6% during the third quarter, according to its most recent filing with the SEC. The fund owned 19,841 shares of the transportation company’s stock after selling 30,507 shares during the quarter. First Financial Bank Trust Division’s holdings in Canadian National Railway were worth $2,324,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of CNI. GQG Partners LLC increased its position 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 valued at $1,505,000 after buying an additional 93 shares during the period. Choreo LLC grew its position in Canadian National Railway by 1.5% during the first quarter. Choreo LLC now owns 6,427 shares of the transportation company’s stock valued at $846,000 after acquiring an additional 97 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its position in 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 worth $547,000 after purchasing an additional 100 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Canadian National Railway by 1.1% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 9,350 shares of the transportation company’s stock valued at $1,105,000 after acquiring an additional 102 shares during the last quarter. Finally, Blue Trust Inc. boosted its position in Canadian National Railway by 19.3% during the 2nd quarter. Blue Trust Inc. now owns 648 shares of the transportation company’s stock valued at $77,000 after buying an additional 105 shares during the period. 80.74% of the stock is owned by institutional investors.

Canadian National Railway Stock Performance

Shares of NYSE:CNI opened at $115.95 on Thursday. The firm has a fifty day simple moving average of $115.56 and a two-hundred day simple moving average of $121.48. The company has a quick ratio of 0.48, a current ratio of 0.63 and a debt-to-equity ratio of 0.93. Canadian National Railway has a 52 week low of $103.96 and a 52 week high of $134.02. The stock has a market capitalization of $73.02 billion, a P/E ratio of 18.49, a PEG ratio of 2.47 and a beta of 0.88.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its earnings results on Tuesday, July 23rd. The transportation company reported $1.84 EPS for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.09). Canadian National Railway had a return on equity of 23.58% and a net margin of 32.00%. The company had revenue of $4.33 billion during the quarter, compared to analysts’ expectations of $4.40 billion. During the same quarter last year, the firm posted $1.31 EPS. Canadian National Railway’s revenue for the quarter was up 6.7% compared to the same quarter last year. On average, analysts expect that Canadian National Railway will post 5.58 earnings per share for the current fiscal year.

Canadian National Railway Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 6th were paid a $0.614 dividend. This represents a $2.46 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend was Friday, September 6th. Canadian National Railway’s dividend payout ratio is currently 39.08%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on CNI shares. Benchmark reiterated a “hold” rating on shares of Canadian National Railway in a report on Wednesday, July 24th. Stifel Nicolaus dropped their target price on shares of Canadian National Railway from $137.00 to $133.00 and set a “hold” rating on the stock in a research note on Wednesday, July 24th. Susquehanna lowered their target price on shares of Canadian National Railway from $135.00 to $130.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Sanford C. Bernstein cut Canadian National Railway from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $146.25 to $130.67 in a research report on Monday, July 8th. Finally, Bank of America lowered their target price on Canadian National Railway from $132.00 to $129.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Sixteen research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $132.76.

About Canadian National Railway

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.