Franklin Parlapiano Turner & Welch LLC Purchases 4,453 Shares of Canadian National Railway Company $CNI

Key Points

• Franklin Parlapiano Turner & Welch LLC increased its stake in Canadian National Railway Company by 6.5%, purchasing an additional 4,453 shares, bringing their total holdings to 72,784 shares valued at $7.57 million.
• Several institutional investors, including Goldman Sachs and Cardinal Capital Management, have significantly increased their holdings in Canadian National Railway, reflecting strong interest in the company.
• The company recently announced an increase in its quarterly dividend to $0.6507 per share, representing a yield of 2.8% and a payout ratio of 50.19%.

Franklin Parlapiano Turner & Welch LLC raised its position in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 6.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 72,784 shares of the transportation company's stock after purchasing an additional 4,453 shares during the period. Canadian National Railway makes up about 2.0% of Franklin Parlapiano Turner & Welch LLC's investment portfolio, making the stock its 21st biggest holding. Franklin Parlapiano Turner & Welch LLC's holdings in Canadian National Railway were worth $7,572,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Founders Capital Management LLC bought a new stake in Canadian National Railway in the second quarter valued at approximately $3,335,000. Goldman Sachs Group Inc. increased its position in shares of Canadian National Railway by 39.6% during the first quarter. Goldman Sachs Group Inc. now owns 2,664,618 shares of the transportation company's stock worth $259,694,000 after acquiring an additional 755,518 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Canadian National Railway by 31.3% during the first 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. Cardinal Capital Management Inc. increased its position in shares of Canadian National Railway by 3.1% during the second quarter. Cardinal Capital Management Inc. now owns 731,350 shares of the transportation company's stock worth $76,178,000 after acquiring an additional 22,035 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Canadian National Railway by 3.7% during the first 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. Institutional investors own 80.74% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on CNI. Royal Bank Of Canada lowered their price objective on shares of Canadian National Railway from $161.00 to $157.00 and set an "outperform" rating for the company in a research report on Wednesday, July 23rd. Weiss Ratings reissued a "hold (c-)" rating on shares of Canadian National Railway in a research report on Wednesday. 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. Wall Street Zen downgraded shares of Canadian National Railway from a "hold" rating to a "sell" rating in a research report on Saturday, October 4th. Finally, Bank of America lowered their price objective on shares of Canadian National Railway from $106.00 to $102.00 and set a "neutral" rating for the company in a research report on Monday, September 29th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $114.30.

Canadian National Railway Stock Performance

Shares of CNI opened at $94.51 on Friday. Canadian National Railway Company has a 12 month low of $91.07 and a 12 month high of $116.79. The firm has a fifty day simple moving average of $94.54 and a 200 day simple moving average of $98.94. The stock has a market capitalization of $58.67 billion, a price-to-earnings ratio of 18.18, a PEG ratio of 2.13 and a beta of 0.96. The company has a current ratio of 0.82, a quick ratio of 0.58 and a debt-to-equity ratio of 0.90.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last announced its 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). 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 for the quarter, compared to analyst estimates of $4.34 billion. During the same quarter in the previous year, the company posted $1.84 EPS. The business's revenue for the quarter was down 1.3% compared to the same quarter last year. Research analysts forecast that Canadian National Railway Company will post 5.52 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

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

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.

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