Azzad Asset Management Inc. ADV Invests $3.72 Million in Canadian National Railway (NYSE:CNI)

Azzad Asset Management Inc. ADV purchased a new position in shares of Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 38,143 shares of the transportation company's stock, valued at approximately $3,717,000.

Other large investors also recently bought and sold shares of the company. Polar Asset Management Partners Inc. increased its holdings in Canadian National Railway by 233.3% during the 4th quarter. Polar Asset Management Partners Inc. now owns 25,000 shares of the transportation company's stock worth $2,537,000 after purchasing an additional 17,500 shares during the period. Cypress Asset Management Inc. TX purchased a new stake in Canadian National Railway during the 4th quarter worth about $875,000. CIBC Asset Management Inc increased its holdings in Canadian National Railway by 12.6% during the 4th quarter. CIBC Asset Management Inc now owns 5,119,674 shares of the transportation company's stock worth $519,843,000 after purchasing an additional 571,967 shares during the period. Focus Partners Wealth increased its holdings in Canadian National Railway by 6.7% during the 4th quarter. Focus Partners Wealth now owns 10,368 shares of the transportation company's stock worth $1,078,000 after purchasing an additional 655 shares during the period. Finally, TD Asset Management Inc. increased its holdings in Canadian National Railway by 2.7% during the 4th quarter. TD Asset Management Inc. now owns 11,768,500 shares of the transportation company's stock worth $1,194,443,000 after purchasing an additional 309,210 shares during the period. Hedge funds and other institutional investors own 80.74% of the company's stock.

Canadian National Railway Stock Performance

Canadian National Railway stock traded down $1.49 during mid-day trading on Friday, reaching $103.76. 1,046,949 shares of the company were exchanged, compared to its average volume of 1,340,634. Canadian National Railway has a twelve month low of $91.65 and a twelve month high of $123.96. The firm's 50-day simple moving average is $101.93 and its two-hundred day simple moving average is $101.88. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.48 and a current ratio of 0.66. The firm has a market cap of $65.15 billion, a PE ratio of 20.27, a price-to-earnings-growth ratio of 1.95 and a beta of 0.98.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last posted its quarterly earnings data on Thursday, May 1st. The transportation company reported $1.29 earnings per share for the quarter, topping analysts' consensus estimates of $1.26 by $0.03. Canadian National Railway had a return on equity of 22.48% and a net margin of 26.09%. The company had revenue of $3.06 billion during the quarter, compared to analysts' expectations of $4.38 billion. During the same period last year, the firm earned $1.72 EPS. The firm's revenue for the quarter was up 3.6% on a year-over-year basis. Equities analysts predict that Canadian National Railway will post 5.52 earnings per share for the current fiscal year.

Canadian National Railway Increases Dividend

The business also recently disclosed a dividend, which will be paid on Monday, June 30th. Shareholders of record on Tuesday, June 10th will be given a dividend of $0.8875 per share. This represents a yield of 2.47%. This is a boost from Canadian National Railway's previous dividend of $0.29. The ex-dividend date of this dividend is Monday, June 9th. Canadian National Railway's dividend payout ratio (DPR) is presently 50.49%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CNI. Barclays lowered their price objective on Canadian National Railway from $104.00 to $101.00 and set an "equal weight" rating for the company in a research report on Friday, May 2nd. Stifel Nicolaus lowered their price objective on Canadian National Railway from $125.00 to $115.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Evercore ISI lowered their price objective on Canadian National Railway from $119.00 to $114.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Susquehanna raised Canadian National Railway from a "neutral" rating to a "positive" rating and set a $120.00 price objective for the company in a research report on Tuesday, May 6th. Finally, Stephens upped their price objective on Canadian National Railway from $105.00 to $109.00 and gave the stock an "equal weight" rating in a research report on Friday, May 2nd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $120.36.

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.