Canandaigua National Trust Co of Florida Acquires New Shares in Canadian National Railway Company $CNI

Key Points

• Canandaigua National Trust Co. of Florida acquired 10,311 shares of Canadian National Railway in the third quarter, worth approximately $1.23 million. Institutional investors and hedge funds collectively own 80.74% of the company.
• Canadian National Railway shares fell 2.3% to $115.66, while the company reported quarterly EPS of $1.50, beating estimates, and revenue of $3.35 billion, up 11.3% year over year.
• The company pays an annualized dividend of approximately $3.66 per share, yielding 3.2%. Analysts maintain a “Moderate Buy” consensus, with an average price target of $137.49.

Canandaigua National Trust Co of Florida bought a new position in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR during the third quarter, according to its most recent filing with the SEC. The firm bought 10,311 shares of the transportation company's stock, valued at approximately $1,226,000.

Several other hedge funds have also bought and sold shares of CNI. Clean Energy Transition LLP acquired a new position in Canadian National Railway during the fourth quarter worth $47,268,000. Two Sigma Securities LLC grew its holdings in shares of Canadian National Railway by 179.9% during the second quarter. Two Sigma Securities LLC now owns 14,684 shares of the transportation company's stock valued at $1,751,000 after buying an additional 9,438 shares during the last quarter. Great Lakes Advisors LLC acquired a new position in shares of Canadian National Railway during the second quarter valued at about $9,308,000. Puzo Michael J bought a new stake in shares of Canadian National Railway during the second quarter worth about $5,915,000. Finally, Canandaigua National Bank & Trust Co. acquired a new stake in shares of Canadian National Railway in the 2nd quarter worth about $1,948,000. Institutional investors and hedge funds own 80.74% of the company's stock.

Canadian National Railway Stock Down 2.3%

Canadian National Railway stock traded down $2.75 during midday trading on Wednesday, hitting $115.66. 975,191 shares of the stock were exchanged, compared to its average volume of 1,536,629. Canadian National Railway Company has a 52-week low of $90.74 and a 52-week high of $131.55. The stock has a market capitalization of $69.87 billion, a price-to-earnings ratio of 20.51, a price-to-earnings-growth ratio of 2.13 and a beta of 0.96. The business's 50-day moving average price is $123.67 and its 200-day moving average price is $118.12. 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 (NYSE:CNI - Get Free Report) TSE: CNR last posted its quarterly earnings data on Friday, July 24th. The transportation company reported $1.50 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $3.35 billion during the quarter, compared to analyst estimates of $3.26 billion. During the same quarter last year, the business posted $1.87 EPS. The company's revenue for the quarter was up 11.3% on a year-over-year basis. On average, research analysts expect that Canadian National Railway Company will post 5.82 EPS for the current fiscal year.

Canadian National Railway Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 8th were given a dividend of C$0.92 per share. This represents a $3.66 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend was Tuesday, September 8th. Canadian National Railway's dividend payout ratio (DPR) is presently 46.10%.

Analysts Set New Price Targets

CNI has been the topic of several recent research reports. Benchmark reaffirmed a "hold" rating on shares of Canadian National Railway in a research report on Monday, July 27th. Stephens raised Canadian National Railway to a "hold" rating in a research note on Wednesday, July 8th. Bank of America dropped their target price on Canadian National Railway from $146.00 to $143.00 and set a "buy" rating on the stock in a report on Wednesday, September 23rd. Argus reaffirmed a "hold" rating on shares of Canadian National Railway in a research report on Monday, August 31st. Finally, Citigroup decreased their price target on Canadian National Railway from $151.00 to $143.00 and set a "buy" rating for the company in a report on Wednesday. Nine investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, Canadian National Railway presently has an average rating of "Moderate Buy" and an average target price of $137.49.

Canadian National Railway Profile

Canadian National Railway Company NYSE: CNI is a transportation and logistics company that operates a major freight rail network in Canada and the United States. Its network connects the Atlantic, Pacific and Gulf coasts, serving ports, industrial centers, agricultural regions and major population markets.

CN transports a broad range of commodities and manufactured goods, including forest products, grain and fertilizers, coal, metals and minerals, petroleum and chemicals, automotive products, and consumer goods.

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