32,056 Shares in Canadian National Railway Company $CNI Bought by Founders Capital Management LLC

Key Points

• Founders Capital Management LLC acquired 32,056 shares of Canadian National Railway Company, valued at approximately $3.34 million, making it the firm's 29th largest holding.
• Canadian National Railway reported Q2 earnings of $1.35 EPS, slightly below expectations, with a total revenue of $3.14 billion, down 1.3% year-over-year.
• The company has increased its quarterly dividend to $0.6507 per share, reflecting a boost from the previous dividend and a yield of 2.8%.

Founders Capital Management LLC bought a new position in shares of Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 32,056 shares of the transportation company's stock, valued at approximately $3,335,000. Canadian National Railway accounts for approximately 0.6% of Founders Capital Management LLC's investment portfolio, making the stock its 29th largest holding.

Other large investors also recently made changes to their positions in the company. Kingstone Capital Partners Texas LLC bought a new stake in shares of Canadian National Railway in the second quarter valued at approximately $310,489,000. The Manufacturers Life Insurance Company increased its holdings in shares of Canadian National Railway by 37.3% during the first quarter. The Manufacturers Life Insurance Company now owns 5,296,701 shares of the transportation company's stock worth $518,260,000 after buying an additional 1,439,617 shares in the last quarter. Nuveen LLC acquired a new position in shares of Canadian National Railway during the first quarter worth $112,216,000. Price T Rowe Associates Inc. MD increased its holdings in Canadian National Railway by 20.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,638,443 shares of the transportation company's stock valued at $646,983,000 after purchasing an additional 1,148,569 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in Canadian National Railway by 39.6% in the first quarter. Goldman Sachs Group Inc. now owns 2,664,618 shares of the transportation company's stock valued at $259,694,000 after purchasing an additional 755,518 shares during the period. Institutional investors own 80.74% of the company's stock.

Canadian National Railway Stock Performance

Canadian National Railway stock traded down $1.19 during trading on Monday, hitting $92.13. The stock had a trading volume of 1,889,006 shares, compared to its average volume of 1,810,321. Canadian National Railway Company has a 1 year low of $91.07 and a 1 year high of $118.46. The company has a quick ratio of 0.58, a current ratio of 0.82 and a debt-to-equity ratio of 0.90. The stock's 50 day moving average is $95.40 and its two-hundred day moving average is $99.26. The stock has a market cap of $57.19 billion, a price-to-earnings ratio of 17.72, a price-to-earnings-growth 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 data on Tuesday, July 22nd. The transportation company reported $1.35 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.02). Canadian National Railway had a net margin of 26.63% and a return on equity of 21.71%. The firm had revenue of $3.14 billion during the quarter, compared to analysts' expectations of $4.34 billion. During the same quarter in the previous year, the company posted $1.84 EPS. Canadian National Railway's revenue for the quarter was down 1.3% on a year-over-year basis. As a group, analysts predict that Canadian National Railway Company will post 5.52 EPS for the current year.

Canadian National Railway Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 8th will be issued a dividend of $0.6507 per share. This represents a $2.60 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Monday, September 8th. This is a positive change from Canadian National Railway's previous quarterly dividend of $0.62. Canadian National Railway's payout ratio is presently 50.19%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Citigroup decreased their price objective on Canadian National Railway from $124.00 to $123.00 and set a "buy" rating for the company in a report on Wednesday, July 9th. Raymond James Financial raised shares of Canadian National Railway from a "market perform" rating to an "outperform" rating in a research report on Thursday, July 17th. Susquehanna lowered their price objective 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. National Bank Financial downgraded Canadian National Railway from an "outperform" rating to a "sector perform" rating in a research note on Wednesday, July 23rd. Finally, Wells Fargo & Company lowered their price objective on Canadian National Railway from $120.00 to $117.00 and set an "overweight" rating for the company in a research note on Wednesday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Canadian National Railway has an average rating of "Hold" and a consensus price target of $118.36.

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.