Huntington National Bank Reduces Stock Position in Canadian National Railway (NYSE:CNI)

Huntington National Bank decreased its position in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 15.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 36,960 shares of the transportation company’s stock after selling 6,982 shares during the quarter. Huntington National Bank’s holdings in Canadian National Railway were worth $3,752,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Quintet Private Bank Europe S.A. bought a new position in Canadian National Railway during the 4th quarter valued at approximately $25,000. Arlington Trust Co LLC bought a new position in shares of Canadian National Railway during the fourth quarter valued at approximately $30,000. Lee Danner & Bass Inc. purchased a new stake in Canadian National Railway in the fourth quarter worth $30,000. Addison Advisors LLC boosted its holdings in Canadian National Railway by 80.2% in the fourth quarter. Addison Advisors LLC now owns 319 shares of the transportation company’s stock valued at $32,000 after acquiring an additional 142 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. increased its position in Canadian National Railway by 48.2% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 332 shares of the transportation company’s stock valued at $34,000 after purchasing an additional 108 shares during the period. 80.74% of the stock is owned by institutional investors.

Canadian National Railway Price Performance

CNI opened at $100.28 on Thursday. Canadian National Railway has a 1 year low of $93.64 and a 1 year high of $132.27. The stock has a 50-day moving average price of $100.80 and a 200-day moving average price of $106.17. The firm has a market cap of $63.02 billion, a PE ratio of 19.59, a P/E/G ratio of 1.95 and a beta of 0.91. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.66 and a quick ratio of 0.48.

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 the consensus estimate of $1.39 by ($0.09). Canadian National Railway had a return on equity of 22.48% and a net margin of 26.09%. Sell-side analysts predict that Canadian National Railway will post 5.52 earnings per share for the current fiscal year.

Canadian National Railway Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were paid a $0.6159 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $2.46 annualized dividend and a dividend yield of 2.46%. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.61. Canadian National Railway’s payout ratio is currently 47.66%.

Wall Street Analyst Weigh In

Several research firms have recently commented on CNI. Loop Capital cut shares of Canadian National Railway from a “hold” rating to a “sell” rating in a research report on Monday, February 3rd. Stifel Nicolaus raised their price objective on shares of Canadian National Railway from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Friday, January 31st. TD Securities raised Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 13th. Jefferies Financial Group raised Canadian National Railway from a “hold” rating to a “buy” rating and set a $120.00 target price for the company in a research report on Friday, January 10th. Finally, JPMorgan Chase & Co. raised Canadian National Railway from a “neutral” rating to an “overweight” rating in a research note on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Canadian National Railway has a consensus rating of “Moderate Buy” and an average price target of $123.36.

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.