Canandaigua National Bank & Trust Co. Makes New Investment in Canadian National Railway Company $CNI

Canandaigua National Bank & Trust Co. bought a new position in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 16,333 shares of the transportation company’s stock, valued at approximately $1,948,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. High Point Wealth Management LLC bought a new stake in shares of Canadian National Railway during the 4th quarter valued at $27,000. Curio Wealth LLC bought a new stake in Canadian National Railway during the fourth quarter worth about $31,000. MidFirst Bank acquired a new stake in Canadian National Railway during the fourth quarter worth about $31,000. Caitong International Asset Management Co. Ltd increased its holdings in Canadian National Railway by 378.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 354 shares of the transportation company’s stock valued at $35,000 after buying an additional 280 shares during the period. Finally, MBM Wealth Consultants LLC acquired a new position in shares of Canadian National Railway in the 1st quarter valued at approximately $37,000. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Canadian National Railway Stock Performance

Shares of Canadian National Railway stock opened at $127.50 on Thursday. The business has a 50-day simple moving average of $122.24 and a 200 day simple moving average of $112.37. The firm has a market capitalization of $77.27 billion, a price-to-earnings ratio of 22.61, a PEG ratio of 2.38 and a beta of 0.95. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.87 and a quick ratio of 0.61. Canadian National Railway Company has a one year low of $90.74 and a one year high of $131.55.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings results on Friday, July 24th. The transportation company reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.11. The business had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $3.26 billion. Canadian National Railway had a net margin of 26.92% and a return on equity of 22.22%. Canadian National Railway’s revenue was up 11.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.87 EPS. On average, research analysts anticipate that Canadian National Railway Company will post 5.78 earnings per share for the current fiscal year.

Canadian National Railway Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 8th will be given a dividend of $0.915 per share. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $3.66 annualized dividend and a dividend yield of 2.9%. Canadian National Railway’s payout ratio is presently 47.34%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Stephens raised shares of Canadian National Railway to a “hold” rating in a research note on Wednesday, July 8th. Canadian Imperial Bank of Commerce lifted their price target on Canadian National Railway from C$182.00 to C$185.00 and gave the company an “outperformer” rating in a research note on Thursday, June 25th. Susquehanna restated a “neutral” rating and set a $140.00 price objective (up from $138.00) on shares of Canadian National Railway in a research report on Tuesday, July 14th. National Bank Financial set a $124.00 target price on Canadian National Railway in a research report on Thursday, June 25th. Finally, Wells Fargo & Company boosted their target price on Canadian National Railway from $135.00 to $145.00 and gave the stock an “overweight” rating in a research note on Monday, July 27th. Eight equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Canadian National Railway presently has an average rating of “Hold” and an average price target of $137.40.

Canadian National Railway Company Profile

Canadian National Railway Company (NYSE: CNI) is a Class I freight railway that operates an integrated rail network across Canada and the United States. Headquartered in Montreal, Quebec, CN provides long-haul freight transportation and related logistics services that connect major ports, industrial centers and inland markets throughout North America. Its transcontinental system enables cross-border movement of goods and supports supply chains that span coast-to-coast in Canada and into the central and eastern United States.

CN’s core business is the railborne transportation of a broad mix of commodities, including intermodal container traffic, forest and paper products, grain and other agricultural products, metallurgical and industrial products, petroleum and chemical products, coal and automotive shipments.