Fiduciary Trust Co Sells 348 Shares of Canadian National Railway (NYSE:CNI)

Fiduciary Trust Co trimmed its stake in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 1.5% during the third quarter, Holdings Channel reports. The fund owned 23,639 shares of the transportation company’s stock after selling 348 shares during the quarter. Fiduciary Trust Co’s holdings in Canadian National Railway were worth $2,769,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Bridgewater Associates LP raised its stake in shares of Canadian National Railway by 10.2% in the 3rd quarter. Bridgewater Associates LP now owns 51,720 shares of the transportation company’s stock valued at $6,063,000 after acquiring an additional 4,795 shares in the last quarter. Townsquare Capital LLC bought a new position in Canadian National Railway in the 3rd quarter worth approximately $240,000. BNP Paribas Financial Markets increased its position in Canadian National Railway by 32.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 116,781 shares of the transportation company’s stock worth $13,681,000 after buying an additional 28,517 shares during the period. Partners Group Holding AG increased its position in Canadian National Railway by 16.3% in the 3rd quarter. Partners Group Holding AG now owns 406,066 shares of the transportation company’s stock worth $47,571,000 after buying an additional 56,849 shares during the period. Finally, Quantbot Technologies LP increased its position in Canadian National Railway by 25.0% in the 3rd quarter. Quantbot Technologies LP now owns 57,484 shares of the transportation company’s stock worth $6,734,000 after buying an additional 11,483 shares during the period. 80.74% of the stock is owned by institutional investors.

Canadian National Railway Trading Up 1.5 %

CNI stock opened at $111.26 on Friday. The company has a market cap of $70.07 billion, a P/E ratio of 17.83, a PEG ratio of 2.51 and a beta of 0.89. Canadian National Railway has a twelve month low of $105.28 and a twelve month high of $134.02. The company has a quick ratio of 0.49, a current ratio of 0.64 and a debt-to-equity ratio of 0.96. The business has a fifty day moving average of $112.50 and a 200-day moving average of $116.80.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings data on Tuesday, October 22nd. The transportation company reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.02. The business had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.08 billion. Canadian National Railway had a return on equity of 23.62% and a net margin of 31.65%. The firm’s revenue was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.26 earnings per share. As a group, equities research analysts expect that Canadian National Railway will post 5.49 EPS for the current year.

Canadian National Railway Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be issued a $0.6108 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $2.44 dividend on an annualized basis and a yield of 2.20%. Canadian National Railway’s dividend payout ratio is presently 39.26%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CNI. Stephens reaffirmed an “equal weight” rating and issued a $116.00 price target on shares of Canadian National Railway in a research report on Wednesday, October 23rd. Citigroup raised Canadian National Railway from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $126.00 to $130.00 in a report on Tuesday, November 12th. Evercore ISI decreased their price objective on Canadian National Railway from $119.00 to $116.00 and set an “in-line” rating on the stock in a report on Wednesday, October 23rd. Bank of America lowered Canadian National Railway from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $129.00 to $122.00 in a report on Friday, October 4th. Finally, The Goldman Sachs Group decreased their price objective on Canadian National Railway from $131.00 to $124.00 and set a “sell” rating on the stock in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Canadian National Railway currently has an average rating of “Hold” and a consensus price target of $125.86.

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.