Farrow Financial Inc. Invests $2 Million in Canadian National Railway (NYSE:CNI)

Farrow Financial Inc. bought a new stake in Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 15,908 shares of the transportation company's stock, valued at approximately $1,999,000. Canadian National Railway makes up about 1.5% of Farrow Financial Inc.'s investment portfolio, making the stock its 27th largest holding.

Several other institutional investors have also recently made changes to their positions in the stock. Caisse DE Depot ET Placement DU Quebec grew its position in shares of Canadian National Railway by 5.0% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 13,067,300 shares of the transportation company's stock valued at $1,421,649,000 after purchasing an additional 625,500 shares during the last quarter. National Bank of Canada FI increased its position in Canadian National Railway by 5.1% during the fourth quarter. National Bank of Canada FI now owns 6,385,441 shares of the transportation company's stock worth $800,750,000 after acquiring an additional 311,961 shares during the period. Deutsche Bank AG boosted its holdings in Canadian National Railway by 7.3% in the 3rd quarter. Deutsche Bank AG now owns 5,575,661 shares of the transportation company's stock valued at $604,011,000 after purchasing an additional 378,513 shares during the period. Legal & General Group Plc increased its holdings in shares of Canadian National Railway by 2.2% during the third quarter. Legal & General Group Plc now owns 4,477,999 shares of the transportation company's stock worth $487,145,000 after purchasing an additional 97,818 shares during the period. Finally, Canoe Financial LP raised its position in shares of Canadian National Railway by 8,401.1% in the fourth quarter. Canoe Financial LP now owns 4,007,186 shares of the transportation company's stock valued at $503,423,000 after buying an additional 3,960,049 shares in the last quarter. Institutional investors and hedge funds own 80.74% of the company's stock.

Canadian National Railway Trading Up 0.9 %

Canadian National Railway stock traded up $1.18 during mid-day trading on Thursday, hitting $126.57. 777,210 shares of the stock were exchanged, compared to its average volume of 1,009,532. The firm's fifty day simple moving average is $128.16 and its two-hundred day simple moving average is $124.08. The company has a quick ratio of 0.46, a current ratio of 0.60 and a debt-to-equity ratio of 0.84. Canadian National Railway has a 12 month low of $103.96 and a 12 month high of $134.02. The stock has a market capitalization of $80.58 billion, a price-to-earnings ratio of 20.19, a PEG ratio of 2.22 and a beta of 0.89.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last issued its quarterly earnings results on Tuesday, April 23rd. The transportation company reported $1.28 earnings per share for the quarter, topping analysts' consensus estimates of $1.27 by $0.01. Canadian National Railway had a return on equity of 23.27% and a net margin of 32.81%. The firm had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $3.16 billion. Analysts forecast that Canadian National Railway will post 5.9 EPS for the current year.

Canadian National Railway Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be given a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend is Friday, June 7th. Canadian National Railway's payout ratio is 39.07%.

Analyst Upgrades and Downgrades

CNI has been the subject of a number of analyst reports. Stephens reaffirmed an "equal weight" rating and issued a $140.00 price target on shares of Canadian National Railway in a research note on Wednesday, April 24th. StockNews.com downgraded shares of Canadian National Railway from a "buy" rating to a "hold" rating in a research report on Friday, May 10th. Bank of America upgraded Canadian National Railway from a "neutral" rating to a "buy" rating and lifted their price target for the company from $140.00 to $145.00 in a research note on Wednesday, April 10th. Citigroup upped their price objective on Canadian National Railway from $121.00 to $128.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 24th. Finally, Wells Fargo & Company lifted their target price on Canadian National Railway from $110.00 to $125.00 and gave the company an "equal weight" rating in a research report on Wednesday, January 24th. Eighteen analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $149.05.

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.

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