Canadian National Railway (NYSE:CNI) Shares Bought by Synovus Financial Corp

Synovus Financial Corp lifted its position in shares of Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR by 82.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,873 shares of the transportation company's stock after acquiring an additional 6,261 shares during the quarter. Synovus Financial Corp's holdings in Canadian National Railway were worth $1,625,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Grove Bank & Trust grew its holdings in Canadian National Railway by 15.3% in the third quarter. Grove Bank & Trust now owns 730 shares of the transportation company's stock valued at $86,000 after purchasing an additional 97 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Canadian National Railway by 1.1% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 9,350 shares of the transportation company's stock valued at $1,105,000 after purchasing an additional 102 shares in the last quarter. Blue Trust Inc. grew its position in shares of Canadian National Railway by 19.3% in the second quarter. Blue Trust Inc. now owns 648 shares of the transportation company's stock valued at $77,000 after purchasing an additional 105 shares during the last quarter. Doheny Asset Management CA increased its stake in shares of Canadian National Railway by 3.8% during the 2nd quarter. Doheny Asset Management CA now owns 3,000 shares of the transportation company's stock worth $354,000 after purchasing an additional 110 shares in the last quarter. Finally, White Pine Investment CO raised its position in shares of Canadian National Railway by 0.3% during the 2nd quarter. White Pine Investment CO now owns 47,643 shares of the transportation company's stock worth $5,628,000 after purchasing an additional 120 shares during the last quarter. Institutional investors and hedge funds own 80.74% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Royal Bank of Canada raised Canadian National Railway from a "sector perform" rating to an "outperform" rating in a report on Thursday, October 10th. Bank of America cut shares of Canadian National Railway from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $129.00 to $122.00 in a research note on Friday, October 4th. Barclays boosted their price objective on shares of Canadian National Railway from $120.00 to $121.00 and gave the company an "equal weight" rating in a research report on Wednesday, September 25th. Evercore ISI decreased their target price on shares of Canadian National Railway from $119.00 to $116.00 and set an "in-line" rating on the stock in a research report on Wednesday, October 23rd. Finally, Susquehanna reduced their price target on Canadian National Railway from $130.00 to $125.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, four have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Canadian National Railway presently has an average rating of "Hold" and an average price target of $125.86.

Canadian National Railway Stock Performance

Shares of NYSE CNI traded down $1.06 during trading on Monday, reaching $102.77. The stock had a trading volume of 1,096,748 shares, compared to its average volume of 1,146,205. The firm's 50 day moving average price is $110.61 and its two-hundred day moving average price is $115.22. Canadian National Railway has a one year low of $102.75 and a one year high of $134.02. The stock has a market cap of $64.66 billion, a PE ratio of 16.47, a P/E/G ratio of 2.43 and a beta of 0.89. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.49 and a current ratio of 0.64.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last announced its quarterly earnings data on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share for the quarter, beating analysts' consensus estimates of $1.70 by $0.02. Canadian National Railway had a net margin of 31.65% and a return on equity of 23.62%. The business had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.08 billion. During the same quarter in the prior year, the firm earned $1.26 EPS. The company's revenue for the quarter was up 3.1% compared to the same quarter last year. On average, research analysts forecast that Canadian National Railway will post 5.31 earnings per share for the current fiscal year.

Canadian National Railway Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be given a $0.6108 dividend. This represents a $2.44 annualized dividend and a yield of 2.38%. The ex-dividend date of this dividend is Monday, December 9th. Canadian National Railway's dividend payout ratio is presently 38.30%.

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.