Zions Bancorporation N.A. Lowers Stake in Canadian National Railway (NYSE:CNI)

Zions Bancorporation N.A. cut its holdings in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 42.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 263 shares of the transportation company’s stock after selling 196 shares during the quarter. Zions Bancorporation N.A.’s holdings in Canadian National Railway were worth $31,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in CNI. Meeder Advisory Services Inc. acquired a new position in Canadian National Railway in the 2nd quarter valued at about $269,000. DekaBank Deutsche Girozentrale increased its holdings in shares of Canadian National Railway by 5.5% in the second quarter. DekaBank Deutsche Girozentrale now owns 482,206 shares of the transportation company’s stock valued at $56,412,000 after purchasing an additional 25,263 shares during the period. Wambolt & Associates LLC raised its stake in shares of Canadian National Railway by 14.6% during the second quarter. Wambolt & Associates LLC now owns 14,652 shares of the transportation company’s stock worth $1,710,000 after purchasing an additional 1,871 shares during the last quarter. Johnson Investment Counsel Inc. raised its stake in shares of Canadian National Railway by 9.3% during the second quarter. Johnson Investment Counsel Inc. now owns 2,423 shares of the transportation company’s stock worth $286,000 after purchasing an additional 206 shares during the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of Canadian National Railway by 22.2% during the second quarter. American Century Companies Inc. now owns 127,342 shares of the transportation company’s stock worth $15,048,000 after purchasing an additional 23,150 shares during the period. 80.74% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on CNI. Benchmark restated a “hold” rating on shares of Canadian National Railway in a research report on Wednesday, July 24th. StockNews.com downgraded shares of Canadian National Railway from a “buy” rating to a “hold” rating in a research report on Wednesday, May 22nd. National Bank Financial raised Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research note on Thursday, June 27th. Bank of America reduced their price target on Canadian National Railway from $132.00 to $129.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Finally, Barclays dropped their price objective on Canadian National Railway from $128.00 to $120.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 24th. Sixteen investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Canadian National Railway presently has a consensus rating of “Hold” and a consensus target price of $137.35.

Canadian National Railway Stock Performance

NYSE:CNI opened at $118.77 on Monday. Canadian National Railway has a twelve month low of $103.96 and a twelve month high of $134.02. The company has a market capitalization of $75.11 billion, a P/E ratio of 18.94, a price-to-earnings-growth ratio of 2.54 and a beta of 0.88. The company has a current ratio of 0.63, a quick ratio of 0.48 and a debt-to-equity ratio of 0.93. The firm has a 50-day moving average price of $116.19 and a two-hundred day moving average price of $122.49.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings data on Tuesday, July 23rd. The transportation company reported $1.84 earnings per share for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.09). Canadian National Railway had a return on equity of 23.58% and a net margin of 32.00%. The business had revenue of $4.33 billion for the quarter, compared to analysts’ expectations of $4.40 billion. During the same period last year, the business earned $1.31 earnings per share. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. As a group, research analysts expect that Canadian National Railway will post 5.58 earnings per share for the current fiscal year.

Canadian National Railway Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 6th will be given a $0.614 dividend. The ex-dividend date is Friday, September 6th. This represents a $2.46 annualized dividend and a dividend yield of 2.07%. Canadian National Railway’s dividend payout ratio is currently 39.07%.

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.