US Bancorp DE Sells 13,981 Shares of Canadian National Railway Company $CNI

Key Points

• US Bancorp DE has sold 13,981 shares of Canadian National Railway Company, reducing its ownership by 16.3%, leaving it with a total of 71,695 shares valued at approximately $7.46 million.
• Canadian National Railway recently increased its quarterly dividend to $0.6507, representing an annual yield of 2.8%, while its dividend payout ratio stands at 50.19%.
• Despite missing earnings estimates with $1.35 EPS for the last quarter, analysts maintain a consensus rating of "Moderate Buy" with an average price target of $114.30 for the stock.

US Bancorp DE reduced its stake in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 16.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 71,695 shares of the transportation company's stock after selling 13,981 shares during the period. US Bancorp DE's holdings in Canadian National Railway were worth $7,459,000 at the end of the most recent quarter.

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

Canadian National Railway Price Performance

NYSE:CNI opened at $94.51 on Monday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.58 and a current ratio of 0.82. The stock's 50-day simple moving average is $94.54 and its 200 day simple moving average is $98.94. The company has a market cap of $58.67 billion, a P/E ratio of 18.18, a P/E/G ratio of 2.14 and a beta of 0.96. Canadian National Railway Company has a 52-week low of $91.07 and a 52-week high of $116.79.

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 (EPS) for the quarter, missing analysts' consensus estimates of $1.37 by ($0.02). The company had revenue of $3.14 billion during 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%. Canadian National Railway's revenue was down 1.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.84 EPS. As a group, sell-side analysts forecast 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. Investors of record on Monday, September 8th were given a $0.6507 dividend. 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 2.8%. The ex-dividend date of this dividend was Monday, September 8th. Canadian National Railway's dividend payout ratio (DPR) is presently 50.19%.

Analysts Set New Price Targets

Several research analysts have weighed in on CNI shares. Wall Street Zen lowered Canadian National Railway from a "hold" rating to a "sell" rating in a report on Saturday, October 4th. Wells Fargo & Company dropped their price target on Canadian National Railway from $117.00 to $110.00 and set an "overweight" rating on the stock in a research note on Monday, October 6th. JPMorgan Chase & Co. reissued a "neutral" rating on shares of Canadian National Railway in a research note on Wednesday, July 23rd. Evercore ISI downgraded Canadian National Railway from an "outperform" rating to an "in-line" rating and set a $105.00 price target on the stock. in a research note on Wednesday, July 23rd. Finally, Citigroup dropped their price target on Canadian National Railway from $124.00 to $123.00 and set a "buy" rating on the stock in a research note on Wednesday, July 9th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Canadian National Railway currently has a consensus rating of "Moderate Buy" and an average target price of $114.30.

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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