Truist Financial Corp Has $1.32 Million Stock Holdings in Canadian National Railway Company $CNI

Truist Financial Corp decreased its holdings in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 8.0% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 12,688 shares of the transportation company’s stock after selling 1,097 shares during the period. Truist Financial Corp’s holdings in Canadian National Railway were worth $1,320,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Bennett Selby Investments LP grew its position in Canadian National Railway by 2.2% during the second quarter. Bennett Selby Investments LP now owns 4,796 shares of the transportation company’s stock valued at $499,000 after buying an additional 101 shares during the period. Heartland Advisors Inc. grew its position in Canadian National Railway by 0.9% during the first quarter. Heartland Advisors Inc. now owns 12,293 shares of the transportation company’s stock valued at $1,198,000 after buying an additional 108 shares during the period. Diversified Trust Co grew its position in Canadian National Railway by 5.7% during the first quarter. Diversified Trust Co now owns 2,561 shares of the transportation company’s stock valued at $250,000 after buying an additional 139 shares during the period. Mather Group LLC. grew its position in Canadian National Railway by 3.4% during the first quarter. Mather Group LLC. now owns 4,351 shares of the transportation company’s stock valued at $424,000 after buying an additional 142 shares during the period. Finally, Baird Financial Group Inc. boosted its position in Canadian National Railway by 0.9% during the first quarter. Baird Financial Group Inc. now owns 16,620 shares of the transportation company’s stock worth $1,620,000 after purchasing an additional 142 shares during the period. Institutional investors and hedge funds own 80.74% of the company’s stock.

Wall Street Analysts Forecast Growth

CNI has been the subject of a number of research reports. Argus upgraded shares of Canadian National Railway to a “hold” rating in a research report on Friday, June 27th. Wall Street Zen lowered shares of Canadian National Railway from a “hold” rating to a “sell” rating in a research report on Saturday, October 4th. National Bank Financial lowered shares of Canadian National Railway from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, July 23rd. 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. Finally, Citigroup cut their target price on shares of Canadian National Railway from $124.00 to $123.00 and set a “buy” rating for the company in a research report on Wednesday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $114.30.

Canadian National Railway Trading Down 1.0%

Shares of Canadian National Railway stock opened at $94.51 on Monday. Canadian National Railway Company has a 12-month low of $91.07 and a 12-month high of $116.79. The company has a market cap of $58.67 billion, a price-to-earnings ratio of 18.18, a PEG ratio of 2.14 and a beta of 0.96. The company has a current ratio of 0.82, a quick ratio of 0.58 and a debt-to-equity ratio of 0.90. The company’s 50-day moving average price is $94.54 and its 200-day moving average price is $98.94.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings results on Tuesday, July 22nd. The transportation company reported $1.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.02). Canadian National Railway had a return on equity of 21.71% and a net margin of 26.63%.The firm had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $4.34 billion. During the same period in the previous year, the company posted $1.84 earnings per share. The company’s quarterly revenue was down 1.3% compared to the same quarter last year. On average, equities analysts expect that Canadian National Railway Company will post 5.52 earnings per share for the current fiscal year.

Canadian National Railway Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 8th were issued a $0.6507 dividend. The ex-dividend date of this dividend was Monday, September 8th. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.62. This represents a $2.60 dividend on an annualized basis and a dividend yield of 2.8%. Canadian National Railway’s payout ratio is currently 50.19%.

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.