Canadian National Railway (NYSE:CNI) Shares Sold by Stock Yards Bank & Trust Co.

Stock Yards Bank & Trust Co. decreased its position in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 8.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,100 shares of the transportation company’s stock after selling 200 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Canadian National Railway were worth $248,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Kingsview Wealth Management LLC boosted its position in shares of Canadian National Railway by 7.2% during the 4th quarter. Kingsview Wealth Management LLC now owns 3,197 shares of the transportation company’s stock valued at $402,000 after purchasing an additional 215 shares in the last quarter. UBS Group AG boosted its holdings in Canadian National Railway by 31.8% during the fourth quarter. UBS Group AG now owns 358,116 shares of the transportation company’s stock worth $44,990,000 after buying an additional 86,424 shares in the last quarter. Balentine LLC acquired a new position in Canadian National Railway in the fourth quarter worth approximately $220,000. Wells Fargo & Company MN lifted its position in shares of Canadian National Railway by 61.1% during the 4th quarter. Wells Fargo & Company MN now owns 162,179 shares of the transportation company’s stock valued at $20,375,000 after acquiring an additional 61,498 shares during the last quarter. Finally, Corient Private Wealth LLC lifted its position in shares of Canadian National Railway by 10.9% during the 4th quarter. Corient Private Wealth LLC now owns 34,269 shares of the transportation company’s stock valued at $4,305,000 after acquiring an additional 3,370 shares during the last quarter. Institutional investors own 80.74% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CNI. Barclays cut their target price on Canadian National Railway from $128.00 to $120.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 24th. Sanford C. Bernstein lowered shares of 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 note on Monday, July 8th. Susquehanna dropped 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 report on Wednesday, July 24th. Wells Fargo & Company reduced their price target on shares of Canadian National Railway from $130.00 to $125.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 24th. Finally, StockNews.com cut shares of Canadian National Railway from a “buy” rating to a “hold” rating in a research report on Wednesday, May 22nd. Sixteen investment 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $137.35.

Canadian National Railway Stock Performance

Shares of NYSE CNI opened at $117.00 on Thursday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.63 and a quick ratio of 0.48. Canadian National Railway has a one year low of $103.96 and a one year high of $134.02. The business’s 50-day moving average price is $116.30 and its two-hundred day moving average price is $122.31. The company has a market capitalization of $73.68 billion, a P/E ratio of 18.66, a price-to-earnings-growth ratio of 2.56 and a beta of 0.88.

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

Canadian National Railway Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 6th will be issued a $0.614 dividend. This represents a $2.46 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend is Friday, September 6th. Canadian National Railway’s dividend payout ratio is presently 39.08%.

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.