First Affirmative Financial Network Has $587,000 Stock Position in Canadian National Railway (NYSE:CNI)

First Affirmative Financial Network lifted its stake in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 16.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,014 shares of the transportation company’s stock after purchasing an additional 721 shares during the quarter. First Affirmative Financial Network’s holdings in Canadian National Railway were worth $587,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of CNI. Canada Pension Plan Investment Board boosted its position in Canadian National Railway by 92.4% during the 1st quarter. Canada Pension Plan Investment Board now owns 4,505,860 shares of the transportation company’s stock worth $593,911,000 after acquiring an additional 2,163,820 shares during the period. Wellington Management Group LLP boosted its position in 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 worth $2,761,473,000 after acquiring an additional 1,907,938 shares during the period. Capital International Investors boosted its position in Canadian National Railway by 18.1% during the 1st quarter. Capital International Investors now owns 9,003,537 shares of the transportation company’s stock worth $1,185,647,000 after acquiring an additional 1,379,976 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in Canadian National Railway by 4,614.6% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,336,027 shares of the transportation company’s stock worth $157,896,000 after acquiring an additional 1,307,689 shares during the period. Finally, Manning & Napier Advisors LLC acquired a new stake in Canadian National Railway during the 2nd quarter worth about $134,096,000. Institutional investors and hedge funds own 80.74% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Scotiabank upgraded Canadian National Railway from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. Royal Bank of Canada upgraded Canadian National Railway from a “sector perform” rating to an “outperform” rating in a report on Thursday. Sanford C. Bernstein reduced their price target on Canadian National Railway from $130.67 to $126.29 and set a “market perform” rating for the company in a report on Wednesday. Barclays lifted their price target on Canadian National Railway from $120.00 to $121.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. Finally, National Bank Financial upgraded Canadian National Railway from a “sector perform” rating to an “outperform” rating in a report on Thursday, June 27th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $126.02.

Canadian National Railway Stock Performance

Shares of NYSE CNI opened at $115.84 on Friday. The company has a quick ratio of 0.48, a current ratio of 0.63 and a debt-to-equity ratio of 0.93. The business’s 50 day moving average is $115.54 and its two-hundred day moving average is $120.73. The company has a market cap of $72.95 billion, a P/E ratio of 18.56, a P/E/G ratio of 2.55 and a beta of 0.88. Canadian National Railway has a 12 month low of $103.96 and a 12 month high of $134.02.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings results on Tuesday, July 23rd. The transportation company reported $1.84 EPS for the quarter, missing the consensus estimate of $1.93 by ($0.09). The business had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $4.40 billion. Canadian National Railway had a return on equity of 23.58% and a net margin of 32.00%. The business’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.31 earnings per share. On average, equities analysts expect that Canadian National Railway will post 5.54 EPS for the current year.

Canadian National Railway Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 6th were issued a dividend of $0.614 per share. This represents a $2.46 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend was Friday, September 6th. Canadian National Railway’s payout ratio is presently 39.26%.

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.