Canadian National Railway (NYSE:CNI) Shares Sold by SouthState Corp

SouthState Corp decreased its stake in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 37.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,152 shares of the transportation company’s stock after selling 702 shares during the period. SouthState Corp’s holdings in Canadian National Railway were worth $117,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Quintet Private Bank Europe S.A. acquired a new position in shares of Canadian National Railway during the fourth quarter valued at approximately $25,000. Arlington Trust Co LLC acquired a new position in shares of Canadian National Railway during the 4th quarter valued at $30,000. Addison Advisors LLC increased its position in shares of Canadian National Railway by 80.2% during the 4th quarter. Addison Advisors LLC now owns 319 shares of the transportation company’s stock valued at $32,000 after purchasing an additional 142 shares during the period. Coastline Trust Co bought a new stake in shares of Canadian National Railway in the 3rd quarter worth $34,000. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of Canadian National Railway by 48.2% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 332 shares of the transportation company’s stock valued at $34,000 after buying an additional 108 shares during the period. 80.74% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Evercore ISI upgraded shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research report on Thursday, December 19th. Royal Bank of Canada dropped their target price on shares of Canadian National Railway from $174.00 to $171.00 and set an “outperform” rating on the stock in a report on Friday, January 31st. Susquehanna reduced their target price on shares of Canadian National Railway from $125.00 to $115.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Stifel Nicolaus upped their price target on Canadian National Railway from $120.00 to $125.00 and gave the company a “buy” rating in a report on Friday, January 31st. Finally, Barclays reduced their price objective on Canadian National Railway from $121.00 to $112.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Canadian National Railway has an average rating of “Moderate Buy” and a consensus target price of $124.19.

Canadian National Railway Price Performance

NYSE CNI opened at $98.28 on Tuesday. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.66 and a quick ratio of 0.48. The firm has a market capitalization of $61.76 billion, a price-to-earnings ratio of 19.19, a price-to-earnings-growth ratio of 1.95 and a beta of 0.91. The company has a 50 day simple moving average of $101.67 and a 200-day simple moving average of $107.71. 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 issued its 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%. Equities research analysts predict that Canadian National Railway will post 5.52 earnings per share for the current fiscal year.

Canadian National Railway Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be paid a dividend of $0.6159 per share. The ex-dividend date is Monday, March 10th. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.61. This represents a $2.46 dividend on an annualized basis and a dividend yield of 2.51%. Canadian National Railway’s dividend payout ratio (DPR) is 47.66%.

Canadian National Railway Company 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.