Janney Montgomery Scott LLC Raises Holdings in Canadian National Railway Company (NYSE:CNI)

Janney Montgomery Scott LLC lifted its holdings in shares of Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 5.6% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 146,586 shares of the transportation company's stock after acquiring an additional 7,776 shares during the period. Janney Montgomery Scott LLC's holdings in Canadian National Railway were worth $14,286,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quintet Private Bank Europe S.A. acquired a new stake in Canadian National Railway during the 4th quarter worth about $25,000. Lee Danner & Bass Inc. acquired a new stake in shares of Canadian National Railway in the fourth quarter worth approximately $30,000. Addison Advisors LLC increased its position in shares of Canadian National Railway by 80.2% during the fourth quarter. Addison Advisors LLC now owns 319 shares of the transportation company's stock worth $32,000 after purchasing an additional 142 shares in the last quarter. Bruce G. Allen Investments LLC raised its position in shares of Canadian National Railway by 44.2% in the first quarter. Bruce G. Allen Investments LLC now owns 346 shares of the transportation company's stock valued at $34,000 after buying an additional 106 shares during the last quarter. Finally, CX Institutional acquired a new stake in shares of Canadian National Railway in the first quarter valued at about $39,000. Hedge funds and other institutional investors own 80.74% of the company's stock.

Canadian National Railway Stock Performance

Shares of CNI stock traded up $0.41 during mid-day trading on Monday, hitting $102.25. The stock had a trading volume of 1,385,562 shares, compared to its average volume of 1,324,333. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.62 and a quick ratio of 0.43. The company's 50-day simple moving average is $102.48 and its 200-day simple moving average is $101.55. Canadian National Railway Company has a fifty-two week low of $91.65 and a fifty-two week high of $123.96. The firm has a market cap of $64.20 billion, a PE ratio of 19.93, a PEG ratio of 1.90 and a beta of 0.98.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last issued its earnings results on Thursday, May 1st. The transportation company reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.03. The company had revenue of $3.06 billion for the quarter, compared to analyst estimates of $4.38 billion. Canadian National Railway had a net margin of 26.19% and a return on equity of 22.29%. The firm's revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.72 earnings per share. Sell-side 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 disclosed a dividend, which will be paid on Monday, June 30th. Stockholders of record on Tuesday, June 10th will be given a $0.8875 dividend. This is an increase from Canadian National Railway's previous dividend of $0.29. This represents a dividend yield of 2.47%. The ex-dividend date is Monday, June 9th. Canadian National Railway's dividend payout ratio is currently 50.49%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CNI shares. Stephens raised their price objective on shares of 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. Susquehanna upgraded Canadian National Railway from a "neutral" rating to a "positive" rating and set a $120.00 target price for the company in a report on Tuesday, May 6th. Wall Street Zen raised Canadian National Railway from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Stifel Nicolaus dropped their price objective on Canadian National Railway from $125.00 to $115.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Finally, Raymond James Financial cut shares of Canadian National Railway from a "moderate buy" rating to a "hold" rating in a report on Tuesday, April 22nd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price 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.