Janney Montgomery Scott LLC Sells 948 Shares of Canadian National Railway (NYSE:CNI)

Janney Montgomery Scott LLC lessened its stake in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 4.5% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,252 shares of the transportation company’s stock after selling 948 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Canadian National Railway were worth $1,794,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. First Trust Advisors LP lifted its holdings in shares of Canadian National Railway by 6.1% in the second quarter. First Trust Advisors LP now owns 525,614 shares of the transportation company’s stock valued at $46,554,000 after purchasing an additional 30,091 shares in the last quarter. 180 Wealth Advisors LLC bought a new position in shares of Canadian National Railway in the second quarter valued at approximately $204,000. Farmers & Merchants Investments Inc. lifted its holdings in shares of Canadian National Railway by 158.4% in the second quarter. Farmers & Merchants Investments Inc. now owns 757 shares of the transportation company’s stock valued at $67,000 after purchasing an additional 464 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Canadian National Railway by 606.9% in the second quarter. Assenagon Asset Management S.A. now owns 130,427 shares of the transportation company’s stock valued at $11,547,000 after purchasing an additional 111,977 shares in the last quarter. Finally, BBVA USA Bancshares Inc. lifted its holdings in shares of Canadian National Railway by 10.3% in the second quarter. BBVA USA Bancshares Inc. now owns 10,312 shares of the transportation company’s stock valued at $913,000 after purchasing an additional 966 shares in the last quarter. Institutional investors own 54.97% of the company’s stock.

CNI has been the topic of a number of recent research reports. Cfra dropped their target price on Canadian National Railway from $100.00 to $85.00 and set a “hold” rating on the stock in a report on Tuesday, April 28th. Deutsche Bank increased their price target on Canadian National Railway from $92.00 to $102.00 and gave the company a “hold” rating in a research report on Wednesday, July 22nd. BMO Capital Markets increased their price target on Canadian National Railway from $132.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, July 22nd. Raymond James increased their price target on Canadian National Railway from $115.00 to $125.00 and gave the company a “market perform” rating in a research report on Tuesday, June 23rd. Finally, Zacks Investment Research raised Canadian National Railway from a “sell” rating to a “hold” rating and set a $90.00 price target for the company in a research report on Thursday, April 30th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $105.33.

Shares of NYSE CNI opened at $97.79 on Friday. The stock has a market cap of $69.55 billion, a PE ratio of 25.73, a price-to-earnings-growth ratio of 3.53 and a beta of 0.88. Canadian National Railway has a fifty-two week low of $65.13 and a fifty-two week high of $99.06. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.77 and a current ratio of 0.97. The stock has a fifty day moving average of $90.65 and a 200-day moving average of $86.16.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings results on Tuesday, July 21st. The transportation company reported $1.28 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.36. The company had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.41 billion. Canadian National Railway had a return on equity of 20.92% and a net margin of 25.66%. On average, sell-side analysts predict that Canadian National Railway will post 3.96 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 9th will be given a $0.425 dividend. The ex-dividend date is Tuesday, September 8th. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.41. This represents a $1.70 annualized dividend and a dividend yield of 1.74%. Canadian National Railway’s payout ratio is 37.36%.

Canadian National Railway Company 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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