Sumitomo Mitsui Trust Holdings Inc. Decreases Stock Holdings in Canadian National Railway (NYSE:CNI)

Sumitomo Mitsui Trust Holdings Inc. lowered its stake in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 2.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,273,709 shares of the transportation company’s stock after selling 35,584 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Canadian National Railway were worth $167,830,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of the company. GAMMA Investing LLC grew its holdings in Canadian National Railway by 766.7% during the 1st quarter. GAMMA Investing LLC now owns 234 shares of the transportation company’s stock valued at $31,000 after purchasing an additional 207 shares in the last quarter. Keener Financial Planning LLC acquired a new stake in shares of Canadian National Railway during the fourth quarter valued at about $46,000. Knuff & Co LLC purchased a new stake in shares of Canadian National Railway during the fourth quarter worth about $50,000. ICA Group Wealth Management LLC acquired a new position in shares of Canadian National Railway in the fourth quarter worth about $56,000. Finally, Partnership Wealth Management LLC purchased a new stake in Canadian National Railway during the 4th quarter worth approximately $65,000. Institutional investors and hedge funds own 80.74% of the company’s stock.

Canadian National Railway Stock Up 2.0 %

Shares of CNI stock traded up $2.33 on Wednesday, hitting $119.91. The company’s stock had a trading volume of 98,809 shares, compared to its average volume of 1,059,618. Canadian National Railway has a fifty-two week low of $103.96 and a fifty-two week high of $134.02. The firm’s fifty day moving average price is $123.63 and its 200-day moving average price is $126.22. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.60 and a quick ratio of 0.46. The stock has a market capitalization of $76.08 billion, a price-to-earnings ratio of 18.76, a P/E/G ratio of 2.07 and a beta of 0.89.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings results on Tuesday, April 23rd. The transportation company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.01. Canadian National Railway had a net margin of 32.81% and a return on equity of 23.27%. The company had revenue of $3.15 billion during the quarter, compared to analysts’ expectations of $3.16 billion. Research analysts anticipate that Canadian National Railway will post 5.9 EPS for the current year.

Canadian National Railway Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 7th were issued a dividend of $0.625 per share. The ex-dividend date was Friday, June 7th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 2.08%. Canadian National Railway’s dividend payout ratio (DPR) is presently 39.08%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Stifel Nicolaus lifted their price target on shares of Canadian National Railway from $121.00 to $134.00 and gave the company a “hold” rating in a report on Friday, April 12th. Jefferies Financial Group initiated coverage on Canadian National Railway in a research report on Monday, April 8th. They issued a “hold” rating and a $130.00 target price on the stock. Bank of America raised shares of Canadian National Railway from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $140.00 to $145.00 in a report on Wednesday, April 10th. National Bank Financial upgraded shares of Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research report on Thursday, June 27th. Finally, StockNews.com downgraded Canadian National Railway from a “buy” rating to a “hold” rating in a research report on Wednesday, May 22nd. Eighteen equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $148.95.

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.