Bank of New York Mellon Corp Sells 379,542 Shares of Canadian National Railway Company (NYSE:CNI)

Bank of New York Mellon Corp lessened its position in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 3.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,110,606 shares of the transportation company's stock after selling 379,542 shares during the quarter. Bank of New York Mellon Corp owned about 1.93% of Canadian National Railway worth $1,180,300,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CNI. Polar Asset Management Partners Inc. raised its stake in Canadian National Railway by 233.3% during the 4th quarter. Polar Asset Management Partners Inc. now owns 25,000 shares of the transportation company's stock valued at $2,537,000 after purchasing an additional 17,500 shares during the last quarter. Cypress Asset Management Inc. TX bought a new stake in shares of Canadian National Railway in the fourth quarter valued at about $875,000. SG Americas Securities LLC increased its stake in Canadian National Railway by 60.6% during the first quarter. SG Americas Securities LLC now owns 9,729 shares of the transportation company's stock valued at $948,000 after acquiring an additional 3,671 shares during the period. Focus Partners Wealth raised its holdings in Canadian National Railway by 6.7% in the 4th quarter. Focus Partners Wealth now owns 10,368 shares of the transportation company's stock valued at $1,078,000 after acquiring an additional 655 shares in the last quarter. Finally, Ritholtz Wealth Management grew its holdings in shares of Canadian National Railway by 23.3% during the 1st quarter. Ritholtz Wealth Management now owns 10,957 shares of the transportation company's stock worth $1,068,000 after purchasing an additional 2,068 shares in the last quarter. Institutional investors and hedge funds own 80.74% of the company's stock.

Canadian National Railway Trading Up 0.1%

Canadian National Railway stock traded up $0.15 during midday trading on Friday, hitting $106.75. 761,838 shares of the stock were exchanged, compared to its average volume of 1,329,144. The company has a fifty day simple moving average of $103.63 and a two-hundred day simple moving average of $101.55. The company has a quick ratio of 0.43, a current ratio of 0.62 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $67.02 billion, a PE ratio of 20.81, a P/E/G ratio of 1.99 and a beta of 0.97. Canadian National Railway Company has a 52 week low of $91.65 and a 52 week high of $123.96.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last issued its quarterly earnings data on Thursday, May 1st. The transportation company reported $1.29 EPS for the quarter, topping the consensus estimate of $1.26 by $0.03. Canadian National Railway had a return on equity of 22.29% and a net margin of 26.19%. The business had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $4.38 billion. During the same quarter last year, the business posted $1.72 EPS. The firm's revenue was up 3.6% compared to the same quarter last year. Equities research analysts anticipate that Canadian National Railway Company will post 5.52 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The company also recently declared a dividend, which was paid on Monday, June 30th. Shareholders of record on Tuesday, June 10th were paid a $0.8875 dividend. This is an increase from Canadian National Railway's previous dividend of $0.29. The ex-dividend date was Monday, June 9th. This represents a dividend yield of 2.47%. Canadian National Railway's dividend payout ratio (DPR) is currently 50.49%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CNI shares. Stephens lifted their price objective on Canadian National Railway from $105.00 to $109.00 and gave the company an "equal weight" rating in a report on Friday, May 2nd. Bank of America lifted their price objective on Canadian National Railway from $105.00 to $115.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Evercore ISI cut their price target on shares of Canadian National Railway from $119.00 to $114.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Citigroup raised their price objective on shares of Canadian National Railway from $117.00 to $124.00 and gave the stock a "buy" rating in a report on Monday, June 9th. Finally, Wall Street Zen raised Canadian National Railway from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, Canadian National Railway has an average rating of "Moderate Buy" and an average target price of $120.52.

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.