NBT Bank N A NY Sells 6,440 Shares of Canadian National Railway Company $CNI

Key Points

• NBT Bank N A NY has reduced its stake in Canadian National Railway by 45.1%, selling 6,440 shares and now holding 7,846 shares valued at $816,000.
• Canadian National Railway reported Q2 earnings of $1.35 per share, missing estimates, and had revenue of $3.14 billion, which was down 1.3% year-over-year.
• The company has announced an increase in its quarterly dividend to $0.6507, reflecting a dividend yield of 2.7% and a payout ratio of 50.19%.

NBT Bank N A NY lessened its stake in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 45.1% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,846 shares of the transportation company's stock after selling 6,440 shares during the quarter. NBT Bank N A NY's holdings in Canadian National Railway were worth $816,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Bennett Selby Investments LP grew its position in shares of Canadian National Railway by 2.2% in the second quarter. Bennett Selby Investments LP now owns 4,796 shares of the transportation company's stock valued at $499,000 after purchasing an additional 101 shares in the last quarter. Heartland Advisors Inc. grew its position in shares of Canadian National Railway by 0.9% in the first quarter. Heartland Advisors Inc. now owns 12,293 shares of the transportation company's stock valued at $1,198,000 after purchasing an additional 108 shares in the last quarter. Diversified Trust Co grew its position in shares of Canadian National Railway by 5.7% in the first quarter. Diversified Trust Co now owns 2,561 shares of the transportation company's stock valued at $250,000 after purchasing an additional 139 shares in the last quarter. Mather Group LLC. grew its position in shares of Canadian National Railway by 3.4% in the first quarter. Mather Group LLC. now owns 4,351 shares of the transportation company's stock valued at $424,000 after purchasing an additional 142 shares in the last quarter. Finally, Baird Financial Group Inc. grew its position in shares of Canadian National Railway by 0.9% in the first quarter. Baird Financial Group Inc. now owns 16,620 shares of the transportation company's stock valued at $1,620,000 after purchasing an additional 142 shares in the last quarter. Institutional investors own 80.74% of the company's stock.

Canadian National Railway Trading Down 0.6%

Shares of CNI stock opened at $96.37 on Thursday. The company has a quick ratio of 0.58, a current ratio of 0.82 and a debt-to-equity ratio of 0.90. The business has a 50-day moving average price of $94.47 and a two-hundred day moving average price of $99.00. Canadian National Railway Company has a 12-month low of $91.07 and a 12-month high of $116.79. The firm has a market cap of $59.83 billion, a P/E ratio of 18.53, a price-to-earnings-growth ratio of 2.18 and a beta of 0.96.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last released its earnings results on Tuesday, July 22nd. The transportation company reported $1.35 earnings per share for the quarter, missing analysts' consensus estimates of $1.37 by ($0.02). Canadian National Railway had a net margin of 26.63% and a return on equity of 21.71%. The company had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $4.34 billion. During the same period last year, the firm posted $1.84 EPS. The company's revenue was down 1.3% on a year-over-year basis. Equities analysts anticipate that Canadian National Railway Company will post 5.52 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

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

Analyst Upgrades and Downgrades

Several research firms recently commented on CNI. Evercore ISI cut Canadian National Railway from an "outperform" rating to an "in-line" rating and set a $105.00 target price for the company. in a research report on Wednesday, July 23rd. Argus upgraded Canadian National Railway to a "hold" rating in a research report on Friday, June 27th. Bank of America reduced their target price on Canadian National Railway from $106.00 to $102.00 and set a "neutral" rating for the company in a research report on Monday, September 29th. Wall Street Zen cut Canadian National Railway from a "hold" rating to a "sell" rating in a research report on Saturday, October 4th. Finally, Susquehanna reduced their target price on Canadian National Railway from $120.00 to $115.00 and set a "positive" rating for the company in a research report on Thursday, September 25th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Canadian National Railway currently has an average rating of "Moderate Buy" and a consensus target price of $114.30.

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.

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