Bank of New York Mellon Corp Purchases 29,030 Shares of Canadian National Railway (NYSE:CNI)

Bank of New York Mellon Corp raised its stake in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 3.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 989,742 shares of the transportation company’s stock after purchasing an additional 29,030 shares during the quarter. Bank of New York Mellon Corp owned 0.14% of Canadian National Railway worth $89,522,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently made changes to their positions in the company. Manitou Investment Management Ltd. increased its stake in shares of Canadian National Railway by 4.9% in the fourth quarter. Manitou Investment Management Ltd. now owns 2,360 shares of the transportation company’s stock worth $213,000 after buying an additional 110 shares during the period. Carderock Capital Management Inc. increased its position in Canadian National Railway by 0.6% during the 4th quarter. Carderock Capital Management Inc. now owns 20,492 shares of the transportation company’s stock valued at $1,854,000 after purchasing an additional 117 shares during the period. Rowland Carmichael Advisors Inc. ADV increased its position in Canadian National Railway by 1.2% during the 4th quarter. Rowland Carmichael Advisors Inc. ADV now owns 10,067 shares of the transportation company’s stock valued at $911,000 after purchasing an additional 120 shares during the period. TCI Wealth Advisors Inc. increased its position in Canadian National Railway by 71.7% during the 4th quarter. TCI Wealth Advisors Inc. now owns 364 shares of the transportation company’s stock valued at $33,000 after purchasing an additional 152 shares during the period. Finally, Sun Life Financial INC increased its position in Canadian National Railway by 1.9% during the 4th quarter. Sun Life Financial INC now owns 8,738 shares of the transportation company’s stock valued at $791,000 after purchasing an additional 162 shares during the period. Institutional investors and hedge funds own 55.24% of the company’s stock.

Shares of Canadian National Railway stock opened at $74.12 on Thursday. The stock has a market cap of $53.50 billion, a price-to-earnings ratio of 17.18, a PEG ratio of 1.78 and a beta of 1.00. The firm’s 50-day moving average is $85.22 and its 200 day moving average is $89.48. Canadian National Railway has a 1 year low of $65.13 and a 1 year high of $96.53. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.66 and a quick ratio of 0.52.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings results on Tuesday, January 28th. The transportation company reported $1.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.34. Canadian National Railway had a net margin of 28.25% and a return on equity of 23.28%. The company had revenue of $3.58 billion for the quarter, compared to analysts’ expectations of $3.54 billion. During the same quarter in the previous year, the business posted $1.49 EPS. Canadian National Railway’s revenue was down 5.9% compared to the same quarter last year. On average, equities analysts expect that Canadian National Railway will post 4.47 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 10th will be given a $0.443 dividend. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Monday, March 9th. This represents a $1.77 dividend on an annualized basis and a yield of 2.39%. Canadian National Railway’s payout ratio is 38.04%.

A number of research analysts have issued reports on the stock. Scotiabank raised shares of Canadian National Railway to a “buy” rating and set a $110.00 price objective on the stock in a research report on Monday, March 16th. Raymond James cut shares of Canadian National Railway from an “outperform” rating to a “market perform” rating in a report on Monday, March 16th. Benchmark began coverage on shares of Canadian National Railway in a report on Wednesday, January 29th. They set a “hold” rating on the stock. Cowen restated a “buy” rating and set a $99.00 target price on shares of Canadian National Railway in a report on Wednesday, January 29th. Finally, Deutsche Bank dropped their target price on shares of Canadian National Railway from $90.00 to $89.00 and set a “hold” rating on the stock in a report on Thursday, March 12th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and five have given a buy rating to the company’s stock. Canadian National Railway currently has a consensus rating of “Hold” and an average price target of $106.43.

Canadian National Railway Profile

Canadian National Railway Company engages in rail and related transportation business. The company transports cargo serving exporters, importers, retailers, farmers, and manufacturers. It operates a network of approximately 20,000 route miles of track spans Canada and mid-America connecting the Atlantic, the Pacific, and the Gulf of Mexico.

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Institutional Ownership by Quarter for Canadian National Railway (NYSE:CNI)

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