Azzad Asset Management Inc. ADV Boosts Stake in Canadian National Railway Company $CNI

Azzad Asset Management Inc. ADV increased its holdings in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 16.7% during the first quarter, HoldingsChannel reports. The fund owned 48,487 shares of the transportation company’s stock after buying an additional 6,932 shares during the period. Azzad Asset Management Inc. ADV’s holdings in Canadian National Railway were worth $4,983,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Axxcess Wealth Management LLC acquired a new stake in Canadian National Railway in the first quarter valued at $257,000. Kathmere Capital Management LLC grew its stake in shares of Canadian National Railway by 37.0% during the 1st quarter. Kathmere Capital Management LLC now owns 18,711 shares of the transportation company’s stock worth $1,923,000 after purchasing an additional 5,053 shares during the period. QRG Capital Management Inc. increased its holdings in shares of Canadian National Railway by 7.9% in the 1st quarter. QRG Capital Management Inc. now owns 4,823 shares of the transportation company’s stock valued at $496,000 after purchasing an additional 354 shares in the last quarter. Hendershot Investments Inc. increased its holdings in shares of Canadian National Railway by 2.9% in the 1st quarter. Hendershot Investments Inc. now owns 106,345 shares of the transportation company’s stock valued at $10,929,000 after purchasing an additional 3,014 shares in the last quarter. Finally, PFG Investments LLC acquired a new stake in shares of Canadian National Railway in the first quarter valued at about $226,000. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on CNI shares. Barclays boosted their price objective on shares of Canadian National Railway from $99.00 to $109.00 and gave the stock an “equal weight” rating in a report on Thursday, June 25th. Evercore upgraded shares of Canadian National Railway from an “in-line” rating to an “outperform” rating and set a $124.00 price target for the company in a research report on Thursday, June 25th. Canadian Imperial Bank of Commerce boosted their price target on Canadian National Railway from C$182.00 to C$185.00 and gave the stock an “outperformer” rating in a research note on Thursday, June 25th. Wells Fargo & Company upped their price target on Canadian National Railway from $110.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Royal Bank Of Canada raised their price objective on Canadian National Railway from $160.00 to $178.00 and gave the company an “outperform” rating in a research note on Thursday, April 30th. Ten research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, Canadian National Railway presently has a consensus rating of “Moderate Buy” and an average target price of $129.94.

Canadian National Railway Stock Performance

Canadian National Railway stock opened at $124.29 on Friday. Canadian National Railway Company has a fifty-two week low of $90.74 and a fifty-two week high of $125.04. The company has a market capitalization of $75.41 billion, a price-to-earnings ratio of 22.60, a PEG ratio of 2.31 and a beta of 0.96. The stock has a fifty day moving average of $116.66 and a two-hundred day moving average of $108.54. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.49 and a current ratio of 0.67.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings data on Wednesday, April 29th. The transportation company reported $1.31 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.31. The business had revenue of $3.15 billion for the quarter, compared to the consensus estimate of $3.15 billion. Canadian National Railway had a return on equity of 21.90% and a net margin of 27.22%.The business’s revenue was down .5% on a year-over-year basis. During the same period in the prior year, the business earned $1.85 earnings per share. On average, analysts anticipate that Canadian National Railway Company will post 5.75 EPS for the current fiscal year.

Canadian National Railway Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th were issued a $0.915 dividend. This represents a $3.66 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Tuesday, June 9th. Canadian National Railway’s dividend payout ratio is 48.55%.

About Canadian National Railway

Canadian National Railway Company (NYSE: CNI) is a Class I freight railway that operates an integrated rail network across Canada and the United States. Headquartered in Montreal, Quebec, CN provides long-haul freight transportation and related logistics services that connect major ports, industrial centers and inland markets throughout North America. Its transcontinental system enables cross-border movement of goods and supports supply chains that span coast-to-coast in Canada and into the central and eastern United States.

CN’s core business is the railborne transportation of a broad mix of commodities, including intermodal container traffic, forest and paper products, grain and other agricultural products, metallurgical and industrial products, petroleum and chemical products, coal and automotive shipments.