Foundations Investment Advisors LLC Takes $391,000 Position in Canadian National Railway Company (NYSE:CNI)

Key Points

• Foundations Investment Advisors LLC purchased a new stake in Canadian National Railway Company, acquiring 4,010 shares valued at approximately $391,000 during the 1st quarter.
• Analysts have varied perspectives on the stock, with recent price targets set between $115.00 and $157.00, and an average consensus rating of "Hold."
• The company announced an increase in its quarterly dividend to $0.6507 per share, marking a boost from the previous dividend and resulting in a 2.8% yield.

Foundations Investment Advisors LLC bought a new stake in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 4,010 shares of the transportation company's stock, valued at approximately $391,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CNI. Mackenzie Financial Corp raised its holdings in shares of Canadian National Railway by 6.3% in the 1st quarter. Mackenzie Financial Corp now owns 8,571,806 shares of the transportation company's stock valued at $834,129,000 after buying an additional 505,588 shares during the period. Ridgewood Investments LLC raised its holdings in shares of Canadian National Railway by 66.9% in the 1st quarter. Ridgewood Investments LLC now owns 3,209 shares of the transportation company's stock valued at $313,000 after buying an additional 1,286 shares during the period. LPL Financial LLC raised its holdings in shares of Canadian National Railway by 6.5% in the 1st quarter. LPL Financial LLC now owns 105,638 shares of the transportation company's stock valued at $10,296,000 after buying an additional 6,432 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Canadian National Railway by 63.5% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 407,861 shares of the transportation company's stock valued at $39,685,000 after buying an additional 158,335 shares during the period. Finally, HB Wealth Management LLC purchased a new stake in shares of Canadian National Railway in the 1st quarter valued at $1,165,000. Hedge funds and other institutional investors own 80.74% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on CNI. Bank of America boosted their price objective on Canadian National Railway from $105.00 to $115.00 and gave the company a "neutral" rating in a report on Friday, May 16th. JPMorgan Chase & Co. reissued a "neutral" rating on shares of Canadian National Railway in a research note on Wednesday, July 23rd. Stephens boosted their target price on Canadian National Railway from $105.00 to $109.00 and gave the stock an "equal weight" rating in a research note on Friday, May 2nd. Stifel Nicolaus lowered their target price on Canadian National Railway from $125.00 to $115.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Finally, Wall Street Zen raised Canadian National Railway from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $118.36.

Canadian National Railway Stock Performance

NYSE:CNI traded down $0.63 during mid-day trading on Friday, reaching $92.82. 2,049,316 shares of the stock were exchanged, compared to its average volume of 1,824,892. The stock has a market capitalization of $58.15 billion, a P/E ratio of 17.85, a P/E/G ratio of 2.07 and a beta of 0.94. Canadian National Railway Company has a 1 year low of $91.65 and a 1 year high of $121.12. The company has a 50 day simple moving average of $102.49 and a 200-day simple moving average of $101.25. The company has a quick ratio of 0.58, a current ratio of 0.82 and a debt-to-equity ratio of 0.90.

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

Canadian National Railway Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 8th will be given a dividend of $0.6507 per share. This represents a $2.60 annualized dividend and a yield of 2.8%. This is a positive change from Canadian National Railway's previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Monday, September 8th. Canadian National Railway's dividend payout ratio is presently 49.81%.

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.