Canadian National Railway Company $CNI Shares Sold by Mufg Securities Canada LTD.

Key Points

• Mufg Securities Canada reduced its Canadian National Railway stake by 5.5% in the second quarter, selling 44,314 shares and retaining 765,088 shares worth approximately $91.2 million. Institutional investors collectively own 80.74% of the company.
• Canadian National Railway exceeded quarterly expectations, reporting $1.50 in earnings per share versus the $1.39 consensus estimate and $3.35 billion in revenue, up 11.3% year over year.
• The company declared a quarterly dividend of $0.915 per share, equivalent to an annualized $3.66 and a 2.9% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $137.40.

Mufg Securities Canada LTD. trimmed its stake in shares of Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 5.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 765,088 shares of the transportation company's stock after selling 44,314 shares during the period. Canadian National Railway accounts for 2.4% of Mufg Securities Canada LTD.'s holdings, making the stock its 15th biggest position. Mufg Securities Canada LTD. owned about 0.13% of Canadian National Railway worth $91,157,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of CNI. Addenda Capital Inc. raised its position in shares of Canadian National Railway by 19.3% during the 2nd quarter. Addenda Capital Inc. now owns 548,874 shares of the transportation company's stock worth $65,448,000 after purchasing an additional 88,869 shares during the last quarter. Two Sigma Securities LLC boosted its holdings in Canadian National Railway by 179.9% in the 2nd quarter. Two Sigma Securities LLC now owns 14,684 shares of the transportation company's stock worth $1,751,000 after buying an additional 9,438 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Canadian National Railway by 11.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 25,480 shares of the transportation company's stock worth $3,038,000 after buying an additional 2,698 shares during the last quarter. Capital Advisors Inc. OK purchased a new stake in Canadian National Railway during the 2nd quarter worth approximately $220,000. Finally, Van ECK Associates Corp increased its stake in Canadian National Railway by 1.8% during the 2nd quarter. Van ECK Associates Corp now owns 273,682 shares of the transportation company's stock worth $32,622,000 after buying an additional 4,878 shares in the last quarter. Institutional investors and hedge funds own 80.74% of the company's stock.

Canadian National Railway Stock Performance

NYSE CNI opened at $124.81 on Tuesday. Canadian National Railway Company has a fifty-two week low of $90.74 and a fifty-two week high of $131.55. The firm has a market capitalization of $75.53 billion, a P/E ratio of 22.13, a price-to-earnings-growth ratio of 2.35 and a beta of 0.95. The stock's fifty day moving average is $125.40 and its two-hundred day moving average is $115.81. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.61 and a current ratio of 0.87.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last announced its quarterly earnings results on Friday, July 24th. The transportation company reported $1.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.39 by $0.11. Canadian National Railway had a net margin of 26.92% and a return on equity of 22.22%. The business had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $3.26 billion. During the same quarter last year, the firm earned $1.87 EPS. The business's revenue was up 11.3% compared to the same quarter last year. On average, research analysts anticipate that Canadian National Railway Company will post 5.81 earnings per share for the current year.

Canadian National Railway Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 8th will be given a $0.915 dividend. The ex-dividend date is Tuesday, September 8th. This represents a $3.66 dividend on an annualized basis and a yield of 2.9%. Canadian National Railway's payout ratio is currently 47.34%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on CNI shares. Barclays raised their target price on Canadian National Railway from $109.00 to $130.00 and gave the company an "equal weight" rating in a research report on Monday, July 27th. Stephens upgraded Canadian National Railway to a "hold" rating in a report on Wednesday, July 8th. Bank of America lifted their target price on shares of Canadian National Railway from $132.00 to $134.00 and gave the stock a "buy" rating in a research note on Tuesday, June 23rd. Weiss Ratings raised shares of Canadian National Railway from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, August 13th. Finally, Royal Bank Of Canada increased their target price on shares of Canadian National Railway from $195.00 to $205.00 and gave the company an "outperform" rating in a research report on Monday, July 27th. Nine investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently 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 Class I freight railway that operates an integrated rail network across Canada and the United States. Headquartered in Montreal, Quebec, CN provides long-haul freight transportation and related logistics services that connect major ports, industrial centers and inland markets throughout North America. Its transcontinental system enables cross-border movement of goods and supports supply chains that span coast-to-coast in Canada and into the central and eastern United States.

CN's core business is the railborne transportation of a broad mix of commodities, including intermodal container traffic, forest and paper products, grain and other agricultural products, metallurgical and industrial products, petroleum and chemical products, coal and automotive shipments.

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