M&T Bank Corp Sells 403 Shares of Canadian National Railway (NYSE:CNI)

M&T Bank Corp trimmed its position in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 5.6% during the 4th quarter, HoldingsChannel reports. The firm owned 6,788 shares of the transportation company’s stock after selling 403 shares during the quarter. M&T Bank Corp’s holdings in Canadian National Railway were worth $689,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in CNI. Quintet Private Bank Europe S.A. bought a new stake in Canadian National Railway during the fourth quarter worth approximately $25,000. Arlington Trust Co LLC bought a new stake in Canadian National Railway during the fourth quarter worth approximately $30,000. Addison Advisors LLC increased its stake in Canadian National Railway by 80.2% during the fourth quarter. Addison Advisors LLC now owns 319 shares of the transportation company’s stock worth $32,000 after acquiring an additional 142 shares during the last quarter. Coastline Trust Co bought a new stake in Canadian National Railway during the third quarter worth approximately $34,000. Finally, Thurston Springer Miller Herd & Titak Inc. increased its stake in Canadian National Railway by 48.2% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 332 shares of the transportation company’s stock worth $34,000 after acquiring an additional 108 shares during the last quarter. 80.74% of the stock is owned by institutional investors.

Canadian National Railway Stock Up 1.5 %

Shares of NYSE CNI opened at $96.91 on Thursday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.48 and a current ratio of 0.66. The firm has a market capitalization of $60.88 billion, a price-to-earnings ratio of 18.93, a PEG ratio of 1.95 and a beta of 0.91. The stock has a 50 day moving average price of $101.99 and a 200 day moving average price of $108.20. Canadian National Railway has a 52-week low of $93.64 and a 52-week high of $134.02.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings results on Thursday, January 30th. The transportation company reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.09). Canadian National Railway had a net margin of 26.09% and a return on equity of 22.48%. Sell-side analysts expect that Canadian National Railway will post 5.52 earnings per share for the current year.

Canadian National Railway Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be issued a dividend of $0.6159 per share. The ex-dividend date is Monday, March 10th. This represents a $2.46 dividend on an annualized basis and a yield of 2.54%. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.61. Canadian National Railway’s dividend payout ratio is currently 47.85%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CNI. TD Securities raised Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 13th. Loop Capital cut Canadian National Railway from a “hold” rating to a “sell” rating in a research note on Monday, February 3rd. Evercore ISI raised Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Thursday, December 19th. Royal Bank of Canada dropped their target price on Canadian National Railway from $174.00 to $171.00 and set an “outperform” rating for the company in a research report on Friday, January 31st. Finally, JPMorgan Chase & Co. upgraded Canadian National Railway from a “neutral” rating to an “overweight” rating in a research report on Tuesday, January 7th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $124.19.

About Canadian National Railway

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.