Canadian National Railway (NYSE:CNI) is Foresight Global Investors Inc.’s 10th Largest Position

Foresight Global Investors Inc. increased its position in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 1,428.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 63,425 shares of the transportation company’s stock after buying an additional 59,275 shares during the quarter. Canadian National Railway accounts for about 4.6% of Foresight Global Investors Inc.’s holdings, making the stock its 10th biggest position. Foresight Global Investors Inc.’s holdings in Canadian National Railway were worth $7,968,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the company. JFS Wealth Advisors LLC lifted its position in Canadian National Railway by 241.1% in the third quarter. JFS Wealth Advisors LLC now owns 324 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 229 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Canadian National Railway by 121.0% during the third quarter. EverSource Wealth Advisors LLC now owns 369 shares of the transportation company’s stock worth $40,000 after acquiring an additional 202 shares during the period. Rational Advisors LLC purchased a new position in Canadian National Railway in the third quarter worth $41,000. Crewe Advisors LLC acquired a new stake in Canadian National Railway in the third quarter valued at $43,000. Finally, Keener Financial Planning LLC acquired a new position in shares of Canadian National Railway during the 4th quarter worth $46,000. Institutional investors and hedge funds own 80.74% of the company’s stock.

Canadian National Railway Trading Up 1.1 %

Shares of NYSE CNI traded up $1.40 during trading on Thursday, hitting $127.25. 1,066,992 shares of the company traded hands, compared to its average volume of 1,014,825. The company has a quick ratio of 0.46, a current ratio of 0.60 and a debt-to-equity ratio of 0.84. The firm has a market capitalization of $81.27 billion, a P/E ratio of 20.30, a P/E/G ratio of 2.21 and a beta of 0.89. The company has a 50-day moving average price of $128.42 and a 200-day moving average price of $123.34. Canadian National Railway has a 1 year low of $103.96 and a 1 year high of $134.02.

Canadian National Railway Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be issued a $0.625 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.96%. Canadian National Railway’s dividend payout ratio (DPR) is 39.71%.

Analysts Set New Price Targets

Several analysts recently commented on CNI shares. Citigroup raised their price objective on shares of Canadian National Railway from $121.00 to $128.00 and gave the company a “neutral” rating in a research note on Wednesday, January 24th. Benchmark reissued a “hold” rating on shares of Canadian National Railway in a research note on Wednesday, April 24th. Susquehanna raised their price objective on Canadian National Railway from $140.00 to $142.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. CIBC downgraded Canadian National Railway from a “sector outperform” rating to a “neutral” rating in a research report on Wednesday, January 10th. Finally, Wells Fargo & Company raised their price target on Canadian National Railway from $110.00 to $125.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 24th. Seventeen research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $149.05.

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.