Janney Montgomery Scott LLC Sells 35,690 Shares of Canadian National Railway Company $CNI

Key Points

• Janney Montgomery Scott LLC reduced its stake in Canadian National Railway Company by 24.3% in Q2, now owning 110,896 shares valued at $11.54 million.
• Canadian National Railway recently declared a quarterly dividend of $0.6507, up from $0.62, representing an annualized amount of $2.60 and a yield of 2.7%.
• The company missed analysts' earnings expectations in its latest report, with an EPS of $1.35, below the consensus of $1.37, while revenue decreased by 1.3% year-over-year.

Janney Montgomery Scott LLC trimmed its position in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 24.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 110,896 shares of the transportation company's stock after selling 35,690 shares during the period. Janney Montgomery Scott LLC's holdings in Canadian National Railway were worth $11,538,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CNI. Kingstone Capital Partners Texas LLC bought a new stake in Canadian National Railway in the 2nd quarter valued at about $310,489,000. The Manufacturers Life Insurance Company boosted its stake in Canadian National Railway by 37.3% during the 1st quarter. The Manufacturers Life Insurance Company now owns 5,296,701 shares of the transportation company's stock valued at $518,260,000 after purchasing an additional 1,439,617 shares during the last quarter. Nuveen LLC acquired a new position in Canadian National Railway during the 1st quarter valued at about $112,216,000. Price T Rowe Associates Inc. MD boosted its stake in Canadian National Railway by 20.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,638,443 shares of the transportation company's stock valued at $646,983,000 after purchasing an additional 1,148,569 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in Canadian National Railway by 39.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,664,618 shares of the transportation company's stock valued at $259,694,000 after purchasing an additional 755,518 shares during the last quarter. 80.74% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CNI has been the subject of a number of analyst reports. Argus upgraded Canadian National Railway to a "hold" rating in a research note on Friday, June 27th. JPMorgan Chase & Co. reiterated a "neutral" rating on shares of Canadian National Railway in a research note on Wednesday, July 23rd. Susquehanna cut their price target on Canadian National Railway from $120.00 to $115.00 and set a "positive" rating for the company in a research note on Thursday, September 25th. Barclays cut their price target on Canadian National Railway from $99.00 to $97.00 and set an "equal weight" rating for the company in a research note on Thursday. Finally, Evercore ISI downgraded Canadian National Railway from an "outperform" rating to an "in-line" rating and set a $105.00 price target for the company. in a research note on Wednesday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $116.69.

Canadian National Railway Trading Up 2.0%

Shares of CNI stock opened at $96.35 on Friday. The company's fifty day simple moving average is $94.36 and its two-hundred day simple moving average is $99.01. 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 Company has a 1 year low of $91.07 and a 1 year high of $116.79. The stock has a market capitalization of $59.81 billion, a price-to-earnings ratio of 18.53, a PEG ratio of 2.11 and a beta of 0.96.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last issued its earnings results 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 the consensus estimate of $4.34 billion. Canadian National Railway had a net margin of 26.63% and a return on equity of 21.71%. The company's revenue was down 1.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.84 EPS. As a group, analysts anticipate that Canadian National Railway Company will post 5.52 earnings per share for the current year.

Canadian National Railway Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 8th were issued a $0.6507 dividend. The ex-dividend date of this dividend was Monday, September 8th. This is an increase from Canadian National Railway's previous quarterly dividend of $0.62. This represents a $2.60 annualized dividend and a dividend yield of 2.7%. Canadian National Railway's payout ratio is currently 50.19%.

About Canadian National Railway

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.

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