Hsbc Holdings PLC Cuts Holdings in Canadian National Railway Company $CNI

Key Points

• HSBC Holdings PLC decreased its stake in Canadian National Railway by 21.9%, selling 67,380 shares and now holding 240,382 shares valued at approximately $23.39 million.
• Canadian National Railway announced a quarterly dividend of $0.6507 per share, representing a 2.7% yield, which is an increase from the previous dividend of $0.62.
• The stock is currently rated with a consensus of "Hold" from analysts, with a price target averaging $118.36, down from previous targets set by various banks.

Hsbc Holdings PLC lowered its holdings in shares of Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 21.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 240,382 shares of the transportation company's stock after selling 67,380 shares during the period. Hsbc Holdings PLC's holdings in Canadian National Railway were worth $23,393,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of CNI. NewEdge Advisors LLC raised its stake in shares of Canadian National Railway by 55.8% during the fourth quarter. NewEdge Advisors LLC now owns 5,296 shares of the transportation company's stock valued at $538,000 after acquiring an additional 1,896 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Canadian National Railway by 2.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,211,222 shares of the transportation company's stock valued at $122,948,000 after acquiring an additional 31,752 shares during the last quarter. Voya Investment Management LLC raised its stake in Canadian National Railway by 1.4% during the fourth quarter. Voya Investment Management LLC now owns 7,953 shares of the transportation company's stock worth $807,000 after buying an additional 112 shares during the last quarter. Nebula Research & Development LLC raised its stake in Canadian National Railway by 31.9% during the fourth quarter. Nebula Research & Development LLC now owns 19,271 shares of the transportation company's stock worth $1,956,000 after buying an additional 4,660 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in Canadian National Railway by 1.0% during the fourth quarter. The Manufacturers Life Insurance Company now owns 3,857,084 shares of the transportation company's stock worth $392,197,000 after buying an additional 37,461 shares during the last quarter. Institutional investors own 80.74% of the company's stock.

Wall Street Analyst Weigh In

CNI has been the subject of a number of analyst reports. Stephens lifted their target price on shares of Canadian National Railway from $105.00 to $109.00 and gave the stock an "equal weight" rating in a research note on Friday, May 2nd. Raymond James Financial raised shares of Canadian National Railway from a "market perform" rating to an "outperform" rating in a research note on Thursday, July 17th. Susquehanna lowered their target price on shares of Canadian National Railway from $122.00 to $120.00 and set a "positive" rating for the company in a research note on Wednesday, July 23rd. Wells Fargo & Company lowered their target price on shares of Canadian National Railway from $120.00 to $117.00 and set an "overweight" rating for the company in a research note on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. reissued a "neutral" rating on shares of Canadian National Railway in a research note on Wednesday, July 23rd. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, Canadian National Railway presently has an average rating of "Hold" and an average target price of $118.36.

Canadian National Railway Stock Up 0.3%

Shares of NYSE CNI traded up $0.25 during mid-day trading on Friday, reaching $96.35. 155,607 shares of the company's stock traded hands, compared to its average volume of 1,503,018. The stock has a market cap of $60.15 billion, a P/E ratio of 18.53, a PEG ratio of 2.16 and a beta of 0.94. The business has a 50-day simple moving average of $98.57 and a 200 day simple moving average of $100.05. Canadian National Railway Company has a 1-year low of $91.65 and a 1-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.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last issued its quarterly earnings data on Tuesday, July 22nd. The transportation company reported $1.35 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.37 by ($0.02). The business had revenue of $3.14 billion for the quarter, compared to analyst estimates of $4.34 billion. Canadian National Railway had a net margin of 26.63% and a return on equity of 21.71%. The firm's quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.84 earnings per share. On average, analysts expect that Canadian National Railway Company will post 5.52 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 8th will be issued a dividend of $0.6507 per share. This is an increase from Canadian National Railway's previous quarterly dividend of $0.62. This represents a $2.60 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Monday, September 8th. Canadian National Railway's dividend payout ratio is 50.19%.

Canadian National Railway 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.