Canandaigua National Bank & Trust Co. Has $653,000 Stock Position in Canadian National Railway (NYSE:CNI)

Canandaigua National Bank & Trust Co. lowered its position in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 7.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,530 shares of the transportation company’s stock after selling 453 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in Canadian National Railway were worth $653,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Bfsg LLC increased its position in Canadian National Railway by 110.5% in the 1st quarter. Bfsg LLC now owns 200 shares of the transportation company’s stock valued at $26,000 after acquiring an additional 105 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Canadian National Railway in the 2nd quarter valued at about $26,000. GAMMA Investing LLC increased its position in Canadian National Railway by 766.7% in the 1st quarter. GAMMA Investing LLC now owns 234 shares of the transportation company’s stock valued at $31,000 after acquiring an additional 207 shares in the last quarter. Keener Financial Planning LLC acquired a new stake in Canadian National Railway in the 4th quarter valued at about $46,000. Finally, Rational Advisors LLC acquired a new stake in Canadian National Railway in the 1st quarter valued at about $49,000. Institutional investors and hedge funds own 80.74% of the company’s stock.

Canadian National Railway Trading Down 0.5 %

Canadian National Railway stock traded down $0.61 during midday trading on Friday, hitting $110.65. 614,653 shares of the stock were exchanged, compared to its average volume of 1,087,452. The company has a fifty day simple moving average of $118.91 and a two-hundred day simple moving average of $124.73. 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 $69.98 billion, a PE ratio of 17.71, a P/E/G ratio of 2.27 and a beta of 0.89. 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 (NYSE:CNI) (TSE:CNR) last released its quarterly earnings data on Tuesday, July 23rd. The transportation company reported $1.84 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $4.40 billion. During the same period in the previous year, the business earned $1.31 EPS. The firm’s revenue was up 6.7% compared to the same quarter last year. Equities research analysts anticipate that Canadian National Railway will post 5.64 EPS for the current fiscal year.

Canadian National Railway Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 6th will be paid a $0.614 dividend. This represents a $2.46 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend is Friday, September 6th. Canadian National Railway’s payout ratio is currently 39.07%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on CNI shares. Barclays lowered their price objective on shares of Canadian National Railway from $128.00 to $120.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 24th. Scotiabank upgraded shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 10th. Benchmark reiterated a “hold” rating on shares of Canadian National Railway in a research report on Wednesday, July 24th. Stifel Nicolaus lowered their price target on shares of Canadian National Railway from $137.00 to $133.00 and set a “hold” rating for the company in a research report on Wednesday, July 24th. Finally, National Bank Financial upgraded shares of Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research report on Thursday, June 27th. Sixteen research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Canadian National Railway presently has a consensus rating of “Hold” and an average price target of $138.35.

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.