Canandaigua National Bank & Trust Co. Invests $1.95 Million in Canadian National Railway Company $CNI

Key Points

• Canandaigua National Bank & Trust initiated a position in Canadian National Railway by purchasing 16,333 shares valued at approximately $1.95 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 $3.35 billion in revenue, up 11.3% year over year.
• The company declared a quarterly dividend of $0.915 per share, equivalent to a $3.66 annualized payout and a 2.9% yield. Analysts maintain a consensus “Hold” rating with an average price target of $137.40.

Canandaigua National Bank & Trust Co. purchased a new position in shares of Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 16,333 shares of the transportation company's stock, valued at approximately $1,948,000.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Canadian National Railway by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 24,646,922 shares of the transportation company's stock valued at $2,437,679,000 after purchasing an additional 346,670 shares in the last quarter. FIL Ltd lifted its stake in Canadian National Railway by 49.5% in the 4th quarter. FIL Ltd now owns 15,745,744 shares of the transportation company's stock valued at $1,557,309,000 after acquiring an additional 5,210,403 shares in the last quarter. Caisse de depot et placement du Quebec lifted its stake in Canadian National Railway by 1.1% in the 3rd quarter. Caisse de depot et placement du Quebec now owns 13,894,922 shares of the transportation company's stock valued at $1,310,600,000 after acquiring an additional 157,000 shares in the last quarter. Lazard Asset Management LLC boosted its position in Canadian National Railway by 2.0% during the 1st quarter. Lazard Asset Management LLC now owns 9,077,518 shares of the transportation company's stock worth $934,488,000 after acquiring an additional 173,894 shares during the last quarter. Finally, Deutsche Bank AG boosted its position in Canadian National Railway by 15.1% during the 4th quarter. Deutsche Bank AG now owns 8,998,101 shares of the transportation company's stock worth $889,462,000 after acquiring an additional 1,182,106 shares during the last quarter. Institutional investors own 80.74% of the company's stock.

Canadian National Railway Stock Performance

CNI opened at $127.50 on Thursday. 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 12-month low of $90.74 and a 12-month high of $131.55. The business has a 50 day moving average of $122.24 and a 200-day moving average of $112.37. The stock has a market cap of $77.27 billion, a price-to-earnings ratio of 22.61, a PEG ratio of 2.38 and a beta of 0.95.

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 EPS for the quarter, beating analysts' consensus estimates of $1.39 by $0.11. The business had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.26 billion. Canadian National Railway had a net margin of 26.92% and a return on equity of 22.22%. Canadian National Railway's quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.87 EPS. On average, equities research analysts expect that Canadian National Railway Company will post 5.78 earnings per share for the current year.

Canadian National Railway Dividend Announcement

The company also recently declared 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 2.9%. The ex-dividend date of this dividend is Tuesday, September 8th. Canadian National Railway's dividend payout ratio (DPR) is presently 47.34%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Evercore upgraded shares of Canadian National Railway from an "in-line" rating to an "outperform" rating and set a $124.00 price objective on the stock in a report on Thursday, June 25th. Wells Fargo & Company boosted their price target on shares of Canadian National Railway from $135.00 to $145.00 and gave the stock an "overweight" rating in a research report on Monday, July 27th. National Bank Financial set a $124.00 price objective on shares of Canadian National Railway in a research note on Thursday, June 25th. Benchmark reaffirmed a "hold" rating on shares of Canadian National Railway in a research report on Monday, July 27th. Finally, Stephens upgraded Canadian National Railway to a "hold" rating in a report on Wednesday, July 8th. Eight equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat.com, Canadian National Railway has a consensus rating of "Hold" and an average price target of $137.40.

Canadian National Railway 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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