Amundi Lowers Holdings in Canadian National Railway Company $CNI

Key Points

• Amundi cut its Canadian National Railway position by 15.8% in the second quarter, selling 160,962 shares and retaining 860,943 shares valued at approximately $102.7 million. Institutional investors collectively own 80.74% of the company.
• Canadian National Railway exceeded quarterly expectations, reporting $1.50 in EPS versus the $1.39 consensus and revenue of $3.35 billion, up 11.3% year over year. The company declared a quarterly dividend of $0.915 per share, equating to a 3.0% annualized yield.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $137.40, above the stock’s reported $121.89 opening price; targets range as high as $145.

Amundi reduced its position in shares of Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 15.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 860,943 shares of the transportation company's stock after selling 160,962 shares during the quarter. Amundi owned about 0.14% of Canadian National Railway worth $102,659,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of CNI. Pin Oak Investment Advisors Inc. purchased a new stake in shares of Canadian National Railway in the 2nd quarter worth $27,000. MidFirst Bank bought a new position in Canadian National Railway during the 4th quarter worth about $31,000. Curio Wealth LLC purchased a new position in Canadian National Railway during the 4th quarter valued at about $31,000. Caitong International Asset Management Co. Ltd increased its position in Canadian National Railway by 378.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 354 shares of the transportation company's stock valued at $35,000 after purchasing an additional 280 shares during the period. Finally, MBM Wealth Consultants LLC purchased a new position in Canadian National Railway during the 1st quarter valued at about $37,000. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Canadian National Railway Stock Down 0.7%

Shares of Canadian National Railway stock opened at $121.89 on Thursday. The firm's 50 day moving average price is $125.90 and its 200-day moving average price is $116.53. The company has a quick ratio of 0.61, a current ratio of 0.87 and a debt-to-equity ratio of 0.99. Canadian National Railway Company has a 52-week low of $90.74 and a 52-week high of $131.55. The company has a market cap of $73.76 billion, a P/E ratio of 21.61, a PEG ratio of 2.19 and a beta of 0.94.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last announced its earnings results on Friday, July 24th. The transportation company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.11. Canadian National Railway had a return on equity of 22.22% and a net margin of 26.92%.The firm had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.26 billion. During the same period in the previous year, the business earned $1.87 EPS. The firm's revenue for the quarter was up 11.3% on a year-over-year basis. On average, sell-side analysts predict that Canadian National Railway Company will post 5.82 EPS for the current fiscal year.

Canadian National Railway Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 8th will be issued a dividend of $0.915 per share. This represents a $3.66 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Tuesday, September 8th. Canadian National Railway's dividend payout ratio (DPR) is 46.10%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Bank of America upped their price target on shares of Canadian National Railway from $132.00 to $134.00 and gave the stock a "buy" rating in a research report on Tuesday, June 23rd. National Bank Financial set a $124.00 price objective on shares of Canadian National Railway in a report on Thursday, June 25th. Citizens Jmp initiated coverage on shares of Canadian National Railway in a research note on Wednesday, July 15th. They issued a "market perform" rating for the company. Wells Fargo & Company upped their target price on Canadian National Railway from $135.00 to $145.00 and gave the stock an "overweight" rating in a report on Monday, July 27th. Finally, Canadian Imperial Bank of Commerce increased their target price on Canadian National Railway from C$182.00 to C$185.00 and gave the company an "outperformer" rating in a research report on Thursday, June 25th. Nine analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $137.40.

Canadian National Railway Company Profile

Canadian National Railway Company NYSE: CNI is a transportation and logistics company that operates a major freight railway network across Canada and the United States. Its rail system connects the Atlantic, Pacific and Gulf coasts with major industrial centers, ports and distribution markets, supporting trade across North America.

CN transports a diverse range of products, including grain and fertilizers, coal and minerals, forest products, petroleum and chemicals, metals, automotive goods, and consumer and manufactured products.

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