Canadian National Railway Company $CNI Shares Acquired by Franklin Resources Inc.

Franklin Resources Inc. lifted its holdings in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 18.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 583,219 shares of the transportation company’s stock after purchasing an additional 91,790 shares during the quarter. Franklin Resources Inc.’s holdings in Canadian National Railway were worth $60,794,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CNI. Founders Capital Management LLC acquired a new stake in shares of Canadian National Railway during the second quarter valued at about $3,335,000. TD Asset Management Inc boosted its position in shares of Canadian National Railway by 2.3% during the 2nd quarter. TD Asset Management Inc now owns 12,072,540 shares of the transportation company’s stock worth $1,255,385,000 after purchasing an additional 273,974 shares during the period. Goldman Sachs Group Inc. increased its holdings in Canadian National Railway by 39.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,664,618 shares of the transportation company’s stock valued at $259,694,000 after purchasing an additional 755,518 shares during the last quarter. Cardinal Capital Management Inc. raised its position in Canadian National Railway by 3.1% in the second quarter. Cardinal Capital Management Inc. now owns 731,350 shares of the transportation company’s stock valued at $76,178,000 after purchasing an additional 22,035 shares during the period. Finally, Logan Capital Management Inc. lifted its stake in Canadian National Railway by 50.7% during the first quarter. Logan Capital Management Inc. now owns 26,486 shares of the transportation company’s stock worth $2,581,000 after purchasing an additional 8,916 shares in the last quarter. 80.74% of the stock is owned by institutional investors and hedge funds.

Canadian National Railway Stock Down 2.3%

Shares of Canadian National Railway stock opened at $90.88 on Tuesday. The company has a quick ratio of 0.58, a current ratio of 0.82 and a debt-to-equity ratio of 0.90. Canadian National Railway Company has a 52-week low of $90.74 and a 52-week high of $112.97. The company has a market capitalization of $56.03 billion, a P/E ratio of 17.48, a P/E/G ratio of 2.13 and a beta of 0.95. The company has a 50 day moving average of $94.77 and a 200 day moving average of $98.33.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings data on Friday, October 31st. The transportation company reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.05. The business had revenue of $2.99 billion for the quarter, compared to analyst estimates of $4.15 billion. Canadian National Railway had a net margin of 26.63% and a return on equity of 21.71%. The company’s revenue was up 1.3% on a year-over-year basis. During the same period last year, the business earned $1.72 EPS. As a group, 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 disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 9th will be given a dividend of $0.8875 per share. The ex-dividend date of this dividend is Tuesday, December 9th. This represents a $3.55 annualized dividend and a dividend yield of 3.9%. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.65. Canadian National Railway’s payout ratio is currently 48.01%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Canadian National Railway in a research note on Wednesday, October 8th. Citigroup lifted their target price on Canadian National Railway from $119.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, November 3rd. Bank of America cut their price target on shares of Canadian National Railway from $106.00 to $102.00 and set a “neutral” rating on the stock in a research note on Monday, September 29th. Zacks Research lowered shares of Canadian National Railway from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 23rd. Finally, Evercore ISI upped their target price on shares of Canadian National Railway from $98.00 to $103.00 and gave the stock an “in-line” rating in a research note on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $114.00.

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.