Sumitomo Mitsui Trust Holdings Inc. Sells 35,584 Shares of Canadian National Railway (NYSE:CNI)

Sumitomo Mitsui Trust Holdings Inc. trimmed its holdings in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 2.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,273,709 shares of the transportation company’s stock after selling 35,584 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.20% of Canadian National Railway worth $167,830,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Dixon Mitchell Investment Counsel Inc. raised its stake in shares of Canadian National Railway by 1.1% in the 1st quarter. Dixon Mitchell Investment Counsel Inc. now owns 475,462 shares of the transportation company’s stock valued at $62,670,000 after acquiring an additional 5,068 shares in the last quarter. Applied Capital LLC FL acquired a new stake in shares of Canadian National Railway in the first quarter worth $292,000. Hexagon Capital Partners LLC grew its stake in Canadian National Railway by 27.0% in the 1st quarter. Hexagon Capital Partners LLC now owns 1,771 shares of the transportation company’s stock valued at $233,000 after buying an additional 376 shares during the last quarter. LVW Advisors LLC grew its stake in Canadian National Railway by 59.9% in the 1st quarter. LVW Advisors LLC now owns 4,696 shares of the transportation company’s stock valued at $619,000 after buying an additional 1,760 shares during the last quarter. Finally, D.B. Root & Company LLC raised its holdings in Canadian National Railway by 52.1% in the 1st quarter. D.B. Root & Company LLC now owns 2,955 shares of the transportation company’s stock worth $389,000 after acquiring an additional 1,012 shares during the period. Institutional investors and hedge funds own 80.74% of the company’s stock.

Canadian National Railway Price Performance

Canadian National Railway stock traded up $2.33 on Wednesday, reaching $119.91. The company’s stock had a trading volume of 98,809 shares, compared to its average volume of 1,059,618. The business’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 quick ratio of 0.46 and a current ratio of 0.60. The company has a market cap of $76.08 billion, a price-to-earnings ratio of 18.76, a PEG ratio of 2.07 and a beta of 0.89. Canadian National Railway has a twelve month low of $103.96 and a twelve month high of $134.02.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings results on Tuesday, April 23rd. The transportation company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $3.15 billion for the quarter, compared to the consensus estimate of $3.16 billion. Equities analysts expect that Canadian National Railway will post 5.9 earnings per share for the current fiscal year.

Canadian National Railway Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 7th were issued a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend was Friday, June 7th. Canadian National Railway’s dividend payout ratio is 39.08%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CNI. Susquehanna cut their price objective on Canadian National Railway from $142.00 to $135.00 and set a “neutral” rating for the company in a research report on Tuesday, June 25th. National Bank Financial upgraded shares of Canadian National Railway from a “sector perform” rating to an “outperform” rating in a report on Thursday, June 27th. Wells Fargo & Company assumed coverage on shares of Canadian National Railway in a research note on Friday, June 7th. They issued an “equal weight” rating and a $130.00 target price for the company. Bank of America upgraded Canadian National Railway from a “neutral” rating to a “buy” rating and boosted their price target for the company from $140.00 to $145.00 in a research note on Wednesday, April 10th. Finally, Benchmark reiterated a “hold” rating on shares of Canadian National Railway in a research report on Wednesday, April 24th. Eighteen analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Canadian National Railway has an average rating of “Hold” and an average price target of $148.95.

Canadian National Railway 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.