Littlejohn Financial Services Inc. Invests $2.01 Million in Canadian National Railway Company $CNI

Key Points

• Littlejohn Financial Services Inc. has invested approximately $2.01 million to acquire 19,270 shares in Canadian National Railway Company, now representing 1.5% of its portfolio.
• In the fourth quarter, other institutional investors increased their stakes in Canadian National Railway, with ownership by institutional investors now standing at 80.74%.
• Canadian National Railway recently issued a dividend of $0.6507 per share, marking an increase from the previous dividend, representing a 2.8% yield for investors.

Littlejohn Financial Services Inc. bought a new position in shares of Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 19,270 shares of the transportation company's stock, valued at approximately $2,005,000. Canadian National Railway comprises approximately 1.5% of Littlejohn Financial Services Inc.'s portfolio, making the stock its 25th biggest holding.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CNI. Squarepoint Ops LLC increased its holdings in Canadian National Railway by 320.8% in the fourth quarter. Squarepoint Ops LLC now owns 24,492 shares of the transportation company's stock valued at $2,486,000 after buying an additional 18,671 shares during the last quarter. Wealthedge Investment Advisors LLC bought a new stake in Canadian National Railway in the fourth quarter valued at about $2,198,000. Wealth Enhancement Advisory Services LLC increased its holdings in Canadian National Railway by 42.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 21,325 shares of the transportation company's stock valued at $2,165,000 after buying an additional 6,324 shares during the last quarter. Chancellor Financial Group WB LP bought a new stake in Canadian National Railway in the fourth quarter valued at about $348,000. Finally, Mascagni Wealth Management Inc. bought a new stake in Canadian National Railway in the fourth quarter valued at about $197,000. 80.74% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on CNI shares. Raymond James Financial raised Canadian National Railway from a "market perform" rating to an "outperform" rating in a report on Thursday, July 17th. Argus upgraded Canadian National Railway to a "hold" rating in a research note on Friday, June 27th. Wells Fargo & Company decreased their target price 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. Citigroup decreased their target price on Canadian National Railway from $124.00 to $123.00 and set a "buy" rating for the company in a research note on Wednesday, July 9th. Finally, Susquehanna decreased 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. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Canadian National Railway presently has an average rating of "Hold" and a consensus price target of $118.36.

Canadian National Railway Stock Performance

Shares of NYSE CNI opened at $92.14 on Thursday. The company has a current ratio of 0.82, a quick ratio of 0.58 and a debt-to-equity ratio of 0.90. The stock has a 50 day simple moving average of $94.97 and a 200-day simple moving average of $99.16. The company has a market cap of $57.20 billion, a PE ratio of 17.72, a P/E/G ratio of 2.12 and a beta of 0.94. Canadian National Railway Company has a 12-month low of $91.07 and a 12-month high of $118.23.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last issued its quarterly earnings data on Tuesday, July 22nd. The transportation company reported $1.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.02). The business 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 business's quarterly revenue was down 1.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.84 earnings per share. On average, equities research analysts forecast that Canadian National Railway Company will post 5.52 EPS for the current year.

Canadian National Railway Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 8th will be issued a dividend of $0.6507 per share. 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. This represents a $2.60 annualized dividend and a yield of 2.8%. Canadian National Railway's dividend payout ratio is presently 50.19%.

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.

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