Retirement Planning Co of New England Inc. Invests $877,000 in Canadian National Railway Company (NYSE:CNI)

Retirement Planning Co of New England Inc. purchased a new stake in shares of Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 9,000 shares of the transportation company's stock, valued at approximately $877,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Forte Capital LLC ADV grew its position in Canadian National Railway by 3.1% during the first quarter. Forte Capital LLC ADV now owns 7,860 shares of the transportation company's stock valued at $766,000 after acquiring an additional 235 shares during the period. Welch & Forbes LLC grew its position in Canadian National Railway by 5.7% during the first quarter. Welch & Forbes LLC now owns 18,638 shares of the transportation company's stock valued at $1,816,000 after acquiring an additional 1,000 shares during the period. Bridgewater Advisors Inc. purchased a new stake in Canadian National Railway during the first quarter valued at about $216,000. Larson Financial Group LLC grew its position in Canadian National Railway by 33.3% during the first quarter. Larson Financial Group LLC now owns 1,546 shares of the transportation company's stock valued at $151,000 after acquiring an additional 386 shares during the period. Finally, SBI Securities Co. Ltd. grew its position in Canadian National Railway by 27.4% during the first quarter. SBI Securities Co. Ltd. now owns 945 shares of the transportation company's stock valued at $92,000 after acquiring an additional 203 shares during the period. Hedge funds and other institutional investors own 80.74% of the company's stock.

Canadian National Railway Stock Down 2.3%

NYSE CNI traded down $2.33 on Friday, hitting $99.50. 2,900,107 shares of the stock traded hands, compared to its average volume of 1,335,253. The stock has a 50-day moving average of $104.64 and a 200 day moving average of $101.68. Canadian National Railway Company has a twelve month low of $91.65 and a twelve month high of $123.37. The company has a market capitalization of $62.33 billion, a P/E ratio of 19.40, a price-to-earnings-growth ratio of 2.06 and a beta of 0.97. The company has a current ratio of 0.62, a quick ratio of 0.43 and a debt-to-equity ratio of 0.88.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last announced its quarterly earnings data on Thursday, May 1st. The transportation company reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.03. Canadian National Railway had a return on equity of 22.29% and a net margin of 26.19%. The firm had revenue of $3.06 billion for the quarter, compared to analysts' expectations of $4.38 billion. During the same quarter in the prior year, the firm posted $1.72 earnings per share. Canadian National Railway's revenue for the quarter was up 3.6% compared to the same quarter last year. As a group, analysts expect 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 disclosed a dividend, which was paid on Monday, June 30th. Shareholders of record on Tuesday, June 10th were paid a dividend of $0.8875 per share. The ex-dividend date of this dividend was Monday, June 9th. This represents a yield of 2.47%. This is a boost from Canadian National Railway's previous dividend of $0.29. Canadian National Railway's dividend payout ratio is presently 50.49%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Bank of America upped their target price on Canadian National Railway from $105.00 to $115.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Stifel Nicolaus decreased their target price on Canadian National Railway from $125.00 to $115.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $163.00 target price on shares of Canadian National Railway in a research report on Thursday, June 5th. Jefferies Financial Group decreased their target price on Canadian National Railway from $120.00 to $110.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Finally, Argus raised Canadian National Railway to a "hold" rating in a research report on Friday, June 27th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $120.86.

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.