Focus Financial Network Inc. Increases Stake in Canadian National Railway (NYSE:CNI)

Focus Financial Network Inc. lifted its position in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 88.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,243 shares of the transportation company’s stock after purchasing an additional 1,520 shares during the quarter. Focus Financial Network Inc.’s holdings in Canadian National Railway were worth $399,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Canadian National Railway by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 22,395,401 shares of the transportation company’s stock worth $2,813,534,000 after purchasing an additional 387,975 shares during the period. Wellington Management Group LLP lifted its position in shares of Canadian National Railway by 9.6% during the 4th quarter. Wellington Management Group LLP now owns 21,868,740 shares of the transportation company’s stock valued at $2,761,473,000 after buying an additional 1,907,938 shares in the last quarter. FIL Ltd grew its stake in Canadian National Railway by 7.2% in the 4th quarter. FIL Ltd now owns 19,189,809 shares of the transportation company’s stock valued at $2,412,032,000 after acquiring an additional 1,280,726 shares during the period. TD Asset Management Inc increased its holdings in Canadian National Railway by 2.8% in the 4th quarter. TD Asset Management Inc now owns 11,651,919 shares of the transportation company’s stock worth $1,471,733,000 after acquiring an additional 314,600 shares in the last quarter. Finally, Capital International Investors lifted its holdings in Canadian National Railway by 18.1% during the first quarter. Capital International Investors now owns 9,003,537 shares of the transportation company’s stock valued at $1,185,647,000 after purchasing an additional 1,379,976 shares in the last quarter. 80.74% of the stock is owned by hedge funds and other institutional investors.

Canadian National Railway Stock Up 0.2 %

NYSE:CNI traded up $0.22 during midday trading on Wednesday, reaching $114.04. The company had a trading volume of 215,446 shares, compared to its average volume of 1,066,811. Canadian National Railway has a 12-month low of $103.96 and a 12-month high of $134.02. The firm has a market capitalization of $71.79 billion, a price-to-earnings ratio of 18.15, a PEG ratio of 2.30 and a beta of 0.89. The company has a current ratio of 0.63, a quick ratio of 0.48 and a debt-to-equity ratio of 0.93. The stock’s fifty day simple moving average is $116.80 and its 200-day simple moving average is $124.02.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings data on Tuesday, July 23rd. The transportation company reported $1.84 earnings per share for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.09). Canadian National Railway had a net margin of 32.00% and a return on equity of 23.58%. The firm had revenue of $4.33 billion during the quarter, compared to analyst estimates of $4.40 billion. During the same quarter in the previous year, the business posted $1.31 earnings per share. Canadian National Railway’s revenue for the quarter was up 6.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Canadian National Railway will post 5.62 earnings per share for the current fiscal year.

Canadian National Railway Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 6th will be given a $0.614 dividend. The ex-dividend date is Friday, September 6th. This represents a $2.46 dividend on an annualized basis and a dividend yield of 2.15%. Canadian National Railway’s dividend payout ratio (DPR) is presently 39.23%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. StockNews.com downgraded shares of Canadian National Railway from a “buy” rating to a “hold” rating in a research report on Wednesday, May 22nd. Wells Fargo & Company reduced their price objective on Canadian National Railway from $130.00 to $125.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 24th. Susquehanna lowered their target price on shares of Canadian National Railway from $135.00 to $130.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Stifel Nicolaus reduced their target price on shares of Canadian National Railway from $137.00 to $133.00 and set a “hold” rating for the company in a research report on Wednesday, July 24th. Finally, Benchmark reiterated a “hold” rating on shares of Canadian National Railway in a report on Wednesday, July 24th. Sixteen research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Canadian National Railway presently has an average rating of “Hold” and a consensus target price of $138.35.

Canadian National Railway 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.