FORA Capital LLC Trims Position in Canadian National Railway Company $CNI

Key Points

• FORA Capital LLC has reduced its stake in Canadian National Railway by 19.3%, now holding 26,378 shares valued at approximately $2.57 million.
• Various institutional investors have shown interest in Canadian National Railway, with firms like Brooklyn Investment Group increasing their stake by 354.3%.
• Canadian National Railway has announced an increase in its quarterly dividend to $0.6507, reflecting a boost from the previous dividend of $0.62.

FORA Capital LLC reduced its holdings in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 19.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 26,378 shares of the transportation company's stock after selling 6,328 shares during the quarter. FORA Capital LLC's holdings in Canadian National Railway were worth $2,571,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Royal Bank of Canada grew its position in shares of Canadian National Railway by 7.5% in the 4th quarter. Royal Bank of Canada now owns 27,757,038 shares of the transportation company's stock worth $2,817,616,000 after buying an additional 1,934,622 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Canadian National Railway by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 23,165,939 shares of the transportation company's stock valued at $2,254,370,000 after purchasing an additional 179,261 shares during the period. TD Asset Management Inc lifted its stake in shares of Canadian National Railway by 0.3% in the 1st quarter. TD Asset Management Inc now owns 11,798,566 shares of the transportation company's stock valued at $1,148,008,000 after purchasing an additional 30,066 shares during the period. 1832 Asset Management L.P. lifted its stake in shares of Canadian National Railway by 6.0% in the 1st quarter. 1832 Asset Management L.P. now owns 11,243,512 shares of the transportation company's stock valued at $1,095,793,000 after purchasing an additional 636,147 shares during the period. Finally, JARISLOWSKY FRASER Ltd lifted its stake in shares of Canadian National Railway by 4.8% in the 4th quarter. JARISLOWSKY FRASER Ltd now owns 9,159,075 shares of the transportation company's stock valued at $926,573,000 after purchasing an additional 422,078 shares during the period. 80.74% of the stock is currently owned by institutional investors.

Canadian National Railway Stock Up 0.8%

Shares of CNI stock traded up $0.75 during mid-day trading on Monday, hitting $96.85. The company's stock had a trading volume of 974,845 shares, compared to its average volume of 1,636,694. Canadian National Railway Company has a 52-week low of $91.65 and a 52-week high of $121.12. The business has a 50-day moving average price of $98.36 and a 200 day moving average price of $99.94. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.58 and a current ratio of 0.82. The stock has a market cap of $60.46 billion, a price-to-earnings ratio of 18.62, a PEG ratio of 2.15 and a beta of 0.94.

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

Canadian National Railway Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 8th will be paid a $0.6507 dividend. This is an increase from Canadian National Railway's previous quarterly dividend of $0.62. This represents a $2.60 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Monday, September 8th. Canadian National Railway's dividend payout ratio (DPR) is presently 49.81%.

Analyst Ratings Changes

CNI has been the subject of a number of research analyst reports. Susquehanna lowered their target price on Canadian National Railway from $122.00 to $120.00 and set a "positive" rating for the company in a research note on Wednesday, July 23rd. Wall Street Zen upgraded Canadian National Railway from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. National Bank Financial cut Canadian National Railway from an "outperform" rating to a "sector perform" rating in a research note on Wednesday, July 23rd. Argus upgraded Canadian National Railway to a "hold" rating in a research note on Friday, June 27th. Finally, Bank of America lifted their price objective on Canadian National Railway from $105.00 to $115.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $118.36.

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.