Bank of Nova Scotia Trust Co. Has $25.21 Million Stock Holdings in Canadian National Railway Company (NYSE:CNI)

Key Points

• Bank of Nova Scotia Trust Co. has reduced its stake in Canadian National Railway Company by 4.1%, selling 11,024 shares and now holding a total of 258,666 shares valued at approximately $25.2 million.
• Despite institutional investors owning 80.74% of the stock, several analysts have recently downgraded Canadian National Railway’s ratings, with price targets ranging from $105 to $117.
• Canadian National Railway has announced an increase in its quarterly dividend to $0.6507, representing an annualized yield of 2.8% with a payout ratio of 49.81%.

Bank of Nova Scotia Trust Co. cut its position in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 4.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 258,666 shares of the transportation company's stock after selling 11,024 shares during the period. Canadian National Railway accounts for approximately 2.7% of Bank of Nova Scotia Trust Co.'s investment portfolio, making the stock its 8th biggest holding. Bank of Nova Scotia Trust Co.'s holdings in Canadian National Railway were worth $25,210,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Bruce G. Allen Investments LLC lifted its position in shares of Canadian National Railway by 44.2% during the 1st 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. CX Institutional bought a new position in shares of Canadian National Railway during the 1st quarter worth approximately $39,000. Dunhill Financial LLC lifted its position in shares of Canadian National Railway by 1,020.0% during the 4th quarter. Dunhill Financial LLC now owns 560 shares of the transportation company's stock worth $57,000 after buying an additional 510 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Canadian National Railway by 31.3% during the 1st quarter. GAMMA Investing LLC now owns 718 shares of the transportation company's stock worth $70,000 after buying an additional 171 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV lifted its position in shares of Canadian National Railway by 57.8% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 819 shares of the transportation company's stock worth $80,000 after buying an additional 300 shares in the last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Canadian National Railway Price Performance

Shares of Canadian National Railway stock traded down $0.63 during trading hours on Friday, reaching $92.82. The company's stock had a trading volume of 2,049,316 shares, compared to its average volume of 1,824,892. The firm has a 50 day moving average price of $102.49 and a 200-day moving average price of $101.25. Canadian National Railway Company has a one year low of $91.65 and a one year high of $121.12. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.82 and a quick ratio of 0.58. The stock has a market cap of $58.15 billion, a P/E ratio of 17.85, a P/E/G ratio of 2.07 and a beta of 0.94.

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 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 for the quarter, compared to analysts' expectations of $4.34 billion. During the same period in the prior year, the firm posted $1.84 earnings per share. Canadian National Railway's revenue for the quarter was down 1.3% on a year-over-year basis. On average, analysts predict that Canadian National Railway Company will post 5.52 EPS for the current year.

Canadian National Railway Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 8th will be issued a $0.6507 dividend. The ex-dividend date is Monday, September 8th. This represents a $2.60 annualized dividend and a dividend yield of 2.8%. This is an increase from Canadian National Railway's previous quarterly dividend of $0.62. Canadian National Railway's dividend payout ratio (DPR) is presently 49.81%.

Analysts Set New Price Targets

Several equities analysts have commented on CNI shares. Barclays dropped their target price on shares of Canadian National Railway from $106.00 to $99.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 23rd. Stifel Nicolaus lowered their price target on shares of Canadian National Railway from $125.00 to $115.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Royal Bank Of Canada lowered their price target on shares of Canadian National Railway from $161.00 to $157.00 and set an "outperform" rating on the stock in a report on Wednesday, July 23rd. Evercore ISI cut 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 report on Wednesday, July 23rd. Finally, Stephens lifted their price target on shares of Canadian National Railway from $105.00 to $109.00 and gave the stock an "equal weight" rating in a report on Friday, May 2nd. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target 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.