Truist Financial Corp Reduces Position in Canadian National Railway (NYSE:CNI)

Truist Financial Corp trimmed its stake in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 7.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,957 shares of the transportation company’s stock after selling 1,456 shares during the quarter. Truist Financial Corp’s holdings in Canadian National Railway were worth $1,721,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. CIBC Asset Management Inc lifted its holdings in Canadian National Railway by 12.6% in the 4th quarter. CIBC Asset Management Inc now owns 5,119,674 shares of the transportation company’s stock valued at $519,843,000 after purchasing an additional 571,967 shares in the last quarter. Valmark Advisers Inc. grew its holdings in shares of Canadian National Railway by 5.4% during the fourth quarter. Valmark Advisers Inc. now owns 6,446 shares of the transportation company’s stock worth $654,000 after buying an additional 332 shares in the last quarter. V Square Quantitative Management LLC raised its position in shares of Canadian National Railway by 28.9% in the fourth quarter. V Square Quantitative Management LLC now owns 4,734 shares of the transportation company’s stock valued at $481,000 after buying an additional 1,062 shares during the last quarter. Vontobel Holding Ltd. lifted its stake in shares of Canadian National Railway by 4.4% during the fourth quarter. Vontobel Holding Ltd. now owns 3,933 shares of the transportation company’s stock valued at $399,000 after buying an additional 167 shares during the period. Finally, Fiera Capital Corp boosted its position in Canadian National Railway by 2.6% during the fourth quarter. Fiera Capital Corp now owns 5,624,594 shares of the transportation company’s stock worth $570,550,000 after acquiring an additional 142,070 shares during the last quarter. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on CNI. Bank of America cut their price target on Canadian National Railway from $119.00 to $112.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Barclays dropped their target price on Canadian National Railway from $121.00 to $112.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Citigroup raised Canadian National Railway from a “neutral” rating to a “buy” rating and raised their price target for the stock from $126.00 to $130.00 in a research note on Tuesday, November 12th. Stifel Nicolaus upped their price objective on shares of Canadian National Railway from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Finally, Evercore ISI upgraded shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a report on Thursday, December 19th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $124.19.

Canadian National Railway Stock Performance

Canadian National Railway stock opened at $99.91 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.48 and a debt-to-equity ratio of 0.94. The stock has a 50 day moving average of $102.53 and a 200-day moving average of $109.13. The stock has a market cap of $62.77 billion, a P/E ratio of 19.51, a price-to-earnings-growth ratio of 1.95 and a beta of 0.91. Canadian National Railway has a 52 week low of $98.69 and a 52 week high of $134.02.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings data on Thursday, January 30th. The transportation company reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.09). Canadian National Railway had a net margin of 26.09% and a return on equity of 22.48%. On average, analysts expect that Canadian National Railway will post 5.52 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be paid a $0.6159 dividend. This represents a $2.46 dividend on an annualized basis and a yield of 2.47%. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.61. The ex-dividend date is Monday, March 10th. Canadian National Railway’s dividend payout ratio (DPR) is 47.66%.

Canadian National Railway 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.