First Pacific Financial lifted its holdings in Canadian National Railway (NYSE:CNI – Get Rating) (TSE:CNR) by 7.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,169 shares of the transportation company's stock after purchasing an additional 380 shares during the quarter. First Pacific Financial's holdings in Canadian National Railway were worth $581,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently modified their holdings of CNI. Hanson & Doremus Investment Management raised its stake in shares of Canadian National Railway by 294.1% in the first quarter. Hanson & Doremus Investment Management now owns 201 shares of the transportation company's stock worth $27,000 after purchasing an additional 150 shares during the last quarter. Tyler Stone Wealth Management purchased a new position in shares of Canadian National Railway in the fourth quarter worth $30,000. Holloway Wealth Management LLC raised its stake in shares of Canadian National Railway by 187.5% in the first quarter. Holloway Wealth Management LLC now owns 230 shares of the transportation company's stock worth $31,000 after purchasing an additional 150 shares during the last quarter. NuWave Investment Management LLC purchased a new position in shares of Canadian National Railway in the second quarter worth $32,000. Finally, JJJ Advisors Inc. raised its stake in shares of Canadian National Railway by 266.7% in the first quarter. JJJ Advisors Inc. now owns 275 shares of the transportation company's stock worth $37,000 after purchasing an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 79.45% of the company's stock.
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Canadian National Railway Price Performance
Shares of NYSE CNI traded down $2.73 during mid-day trading on Thursday, reaching $109.05. The company's stock had a trading volume of 24,438 shares, compared to its average volume of 1,311,058. The firm has a market capitalization of $74.38 billion, a PE ratio of 19.44, a P/E/G ratio of 1.66 and a beta of 0.86. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.71 and a quick ratio of 0.55. The stock has a fifty day moving average of $121.18 and a two-hundred day moving average of $119.49. Canadian National Railway has a 52 week low of $106.61 and a 52 week high of $137.19.
Canadian National Railway (NYSE:CNI – Get Rating) (TSE:CNR) last released its quarterly earnings data on Tuesday, July 26th. The transportation company reported $1.51 earnings per share for the quarter, topping analysts' consensus estimates of $1.37 by $0.14. The firm had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.17 billion. Canadian National Railway had a return on equity of 20.63% and a net
margin of 33.32%. As a group, sell-side analysts anticipate that Canadian National Railway will post 5.74 EPS for the current fiscal year.
Canadian National Railway Cuts Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Thursday, September 8th will be paid a $0.569 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date is Wednesday, September 7th. Canadian National Railway's dividend payout ratio (DPR) is 38.78%.
Analysts Set New Price Targets
Several research firms have recently weighed in on CNI. Bank of America upgraded Canadian National Railway from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $128.00 to $135.00 in a research note on Monday, September 12th. CIBC raised Canadian National Railway from a "neutral" rating to a "sector outperform" rating in a report on Thursday, June 2nd. StockNews.com raised Canadian National Railway from a "hold" rating to a "buy" rating in a report on Tuesday, September 20th. Wells Fargo & Company lifted their price objective on Canadian National Railway to $119.00 and gave the stock an "outperform" rating in a report on Wednesday, July 27th. Finally, JPMorgan Chase & Co. cut their price objective on Canadian National Railway from C$162.00 to C$148.00 in a report on Tuesday, July 12th. Twelve equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $141.96.
About Canadian National Railway
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Canadian National Railway Company, together with its subsidiaries, engages in the rail and related transportation business. The company's portfolio of goods includes petroleum and chemicals, grain and fertilizers, coal, metals and minerals, forest products, intermodal, and automotive products serving exporters, importers, retailers, farmers, and manufacturers.
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