Canadian National Railway Company (NYSE:CNI) Holdings Increased by Foresight Global Investors Inc.

Key Points

• Foresight Global Investors Inc. has increased its stake in Canadian National Railway Company by 2.7%, making it the firm's 4th largest position, accounting for 11.3% of its total holdings valued at approximately $16.06 million.
• Multiple institutional investors have also significantly increased their holdings in Canadian National Railway, with notable boosts from Royal Bank of Canada (+7.5%) and Price T Rowe Associates (+33.6%) in the fourth quarter.
• Canadian National Railway announced a quarterly dividend increase to $0.6507, reflecting an annualized dividend of $2.60 with a yield of 2.8%, marking a rise from its previous dividend payout.

Foresight Global Investors Inc. grew its holdings in shares of Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 2.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 164,818 shares of the transportation company's stock after purchasing an additional 4,255 shares during the quarter. Canadian National Railway makes up approximately 11.3% of Foresight Global Investors Inc.'s holdings, making the stock its 4th biggest position. Foresight Global Investors Inc.'s holdings in Canadian National Railway were worth $16,063,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CNI. Polar Asset Management Partners Inc. increased its holdings in Canadian National Railway by 233.3% in the 4th quarter. Polar Asset Management Partners Inc. now owns 25,000 shares of the transportation company's stock worth $2,537,000 after acquiring an additional 17,500 shares in the last quarter. Cypress Asset Management Inc. TX purchased a new stake in Canadian National Railway in the 4th quarter worth approximately $875,000. GAMMA Investing LLC increased its holdings in Canadian National Railway by 31.3% in the 1st quarter. GAMMA Investing LLC now owns 718 shares of the transportation company's stock worth $70,000 after acquiring an additional 171 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Canadian National Railway by 3.7% in the 1st quarter. Principal Financial Group Inc. now owns 94,400 shares of the transportation company's stock worth $9,185,000 after acquiring an additional 3,400 shares in the last quarter. Finally, SG Americas Securities LLC increased its holdings in Canadian National Railway by 60.6% in the 1st quarter. SG Americas Securities LLC now owns 9,729 shares of the transportation company's stock worth $948,000 after acquiring an additional 3,671 shares in the last quarter. Hedge funds and other institutional investors own 80.74% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CNI shares. Stifel Nicolaus reduced their target price on shares of Canadian National Railway from $125.00 to $115.00 and set a "buy" rating for the company in a report on Monday, April 14th. Citigroup reduced their target price on shares of Canadian National Railway from $124.00 to $123.00 and set a "buy" rating for the company in a report on Wednesday, July 9th. National Bank Financial lowered shares of Canadian National Railway from an "outperform" rating to a "sector perform" rating in a report on Wednesday, July 23rd. Susquehanna cut their price objective on shares of Canadian National Railway from $122.00 to $120.00 and set a "positive" rating for the company in a report on Wednesday, July 23rd. Finally, Raymond James Financial raised shares of Canadian National Railway from a "market perform" rating to an "outperform" rating in a report on Thursday, July 17th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Canadian National Railway currently has a consensus rating of "Hold" and an average price target of $118.36.

Canadian National Railway Price Performance

Shares of NYSE CNI traded up $0.09 during midday trading on Friday, reaching $92.58. 933,704 shares of the stock traded hands, compared to its average volume of 1,836,612. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.82 and a quick ratio of 0.58. The stock has a market capitalization of $58.00 billion, a PE ratio of 17.80, a P/E/G ratio of 2.06 and a beta of 0.94. Canadian National Railway Company has a one year low of $91.65 and a one year high of $121.12. The company's 50 day moving average is $101.33 and its 200 day moving average is $100.96.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last issued its quarterly earnings results on Tuesday, July 22nd. The transportation company reported $1.35 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.37 by ($0.02). The company had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $4.34 billion. Canadian National Railway had a return on equity of 21.71% and a net margin of 26.63%. The firm's quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.84 earnings per share. On average, equities research analysts anticipate that Canadian National Railway Company will post 5.52 earnings per share for the current year.

Canadian National Railway Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 8th will be given a $0.6507 dividend. This is a boost from Canadian National Railway's previous quarterly dividend of $0.62. This represents a $2.60 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Monday, September 8th. Canadian National Railway's dividend payout ratio is 49.81%.

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.