Canadian National Railway Company $CNI Shares Sold by Banco Bilbao Vizcaya Argentaria S.A.

Key Points

• Banco Bilbao Vizcaya Argentaria S.A. reduced its stake in Canadian National Railway by 10%, selling 9,060 shares and ending with 81,580 shares valued at $7,951,000.
• Multiple institutional investors have modified their holdings in Canadian National Railway, with 80.74% of the stock now owned by such investors.
• The company has announced an increase in its quarterly dividend to $0.6507 per share, reflecting a yield of 2.8% and a payout ratio of 49.81%.

Banco Bilbao Vizcaya Argentaria S.A. lowered its holdings in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 10.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 81,580 shares of the transportation company's stock after selling 9,060 shares during the quarter. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in Canadian National Railway were worth $7,951,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CNI. Shell Asset Management Co. lifted its holdings in Canadian National Railway by 0.5% during the fourth quarter. Shell Asset Management Co. now owns 21,387 shares of the transportation company's stock valued at $2,171,000 after purchasing an additional 100 shares in the last quarter. Bruce G. Allen Investments LLC lifted its stake in shares of Canadian National Railway by 44.2% in the first quarter. Bruce G. Allen Investments LLC now owns 346 shares of the transportation company's stock worth $34,000 after buying an additional 106 shares in the last quarter. Heartland Advisors Inc. lifted its stake in shares of Canadian National Railway by 0.9% in the first quarter. Heartland Advisors Inc. now owns 12,293 shares of the transportation company's stock worth $1,198,000 after buying an additional 108 shares in the last quarter. Voya Investment Management LLC lifted its stake in shares of Canadian National Railway by 1.4% in the fourth quarter. Voya Investment Management LLC now owns 7,953 shares of the transportation company's stock worth $807,000 after buying an additional 112 shares in the last quarter. Finally, Gradient Investments LLC lifted its stake in shares of Canadian National Railway by 2.1% in the first quarter. Gradient Investments LLC now owns 5,409 shares of the transportation company's stock worth $527,000 after buying an additional 112 shares in the last quarter. Institutional investors and hedge funds own 80.74% of the company's stock.

Canadian National Railway Trading Up 2.0%

Shares of Canadian National Railway stock traded up $1.8350 on Friday, reaching $95.8650. The company had a trading volume of 2,047,408 shares, compared to its average volume of 1,688,668. The firm's 50 day moving average price is $99.08 and its two-hundred day moving average price is $100.23. The firm has a market cap of $59.85 billion, a PE ratio of 18.44, a PEG ratio of 2.09 and a beta of 0.94. Canadian National Railway Company has a 52-week low of $91.65 and a 52-week high of $121.12. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.58 and a current ratio of 0.82.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last released 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). The company had revenue of $3.14 billion during the quarter, compared to analysts' expectations of $4.34 billion. Canadian National Railway had a net margin of 26.63% and a return on equity of 21.71%. Canadian National Railway's revenue was down 1.3% on a year-over-year basis. During the same period last year, the firm posted $1.84 earnings per share. Sell-side analysts predict that Canadian National Railway Company will post 5.52 earnings per share for the current fiscal year.

Canadian National Railway Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 8th will be issued a $0.6507 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 2.7%. This is an increase from Canadian National Railway's previous quarterly dividend of $0.62. The ex-dividend date is Monday, September 8th. Canadian National Railway's dividend payout ratio (DPR) is presently 50.19%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CNI shares. Raymond James Financial raised shares of Canadian National Railway from a "market perform" rating to an "outperform" rating in a research note on Thursday, July 17th. Barclays decreased their price target on shares of Canadian National Railway from $106.00 to $99.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 23rd. Argus raised shares of Canadian National Railway to a "hold" rating in a research note on Friday, June 27th. Evercore ISI downgraded shares of Canadian National Railway from an "outperform" rating to an "in-line" rating and set a $105.00 price target on the stock. in a research note on Wednesday, July 23rd. Finally, Royal Bank Of Canada reduced their target price on shares of Canadian National Railway from $161.00 to $157.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $118.36.

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.