Truist Financial Corp Sells 1,097 Shares of Canadian National Railway Company $CNI

Truist Financial Corp trimmed its holdings in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 8.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,688 shares of the transportation company’s stock after selling 1,097 shares during the quarter. Truist Financial Corp’s holdings in Canadian National Railway were worth $1,320,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Canadian National Railway by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 23,165,939 shares of the transportation company’s stock worth $2,254,370,000 after acquiring an additional 179,261 shares during the last quarter. TD Asset Management Inc boosted its stake in shares of Canadian National Railway by 0.3% in the 1st quarter. TD Asset Management Inc now owns 11,798,566 shares of the transportation company’s stock valued at $1,148,008,000 after purchasing an additional 30,066 shares during the last quarter. 1832 Asset Management L.P. boosted its stake in shares of Canadian National Railway by 6.0% in the 1st quarter. 1832 Asset Management L.P. now owns 11,243,512 shares of the transportation company’s stock valued at $1,095,793,000 after purchasing an additional 636,147 shares during the last quarter. Mackenzie Financial Corp boosted its stake in shares of Canadian National Railway by 6.3% in the 1st quarter. Mackenzie Financial Corp now owns 8,571,806 shares of the transportation company’s stock valued at $834,129,000 after purchasing an additional 505,588 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Canadian National Railway by 20.9% in 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. 80.74% of the stock is owned by institutional investors.

Canadian National Railway Stock Down 1.0%

Canadian National Railway stock opened at $94.51 on Monday. The company has a quick ratio of 0.58, a current ratio of 0.82 and a debt-to-equity ratio of 0.90. Canadian National Railway Company has a 12-month low of $91.07 and a 12-month high of $116.79. The firm’s fifty day moving average is $94.54 and its 200 day moving average is $98.94. The company has a market capitalization of $58.67 billion, a PE ratio of 18.18, a PEG ratio of 2.14 and a beta of 0.96.

Canadian National Railway (NYSE:CNI) (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). 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 for the quarter, compared to analyst estimates of $4.34 billion. During the same quarter in the previous year, the firm earned $1.84 EPS. The firm’s revenue was down 1.3% on a year-over-year basis. As a group, sell-side analysts predict 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 dividend of $0.6507 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Monday, September 8th. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.62. Canadian National Railway’s dividend payout ratio is presently 50.19%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CNI. Susquehanna reduced their price objective on shares of Canadian National Railway from $120.00 to $115.00 and set a “positive” rating on the stock in a research note on Thursday, September 25th. Royal Bank Of Canada reduced their price objective on shares of Canadian National Railway from $161.00 to $157.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 23rd. Wells Fargo & Company reduced their price objective on shares of 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. Bank of America reduced their price objective on shares of Canadian National Railway from $106.00 to $102.00 and set a “neutral” rating on the stock in a research note on Monday, September 29th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Canadian National Railway in a research note on Wednesday, July 23rd. Two investment 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 assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $114.30.

Canadian National Railway Company 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.