Foresight Global Investors Inc. Reduces Stake in Canadian National Railway Company $CNI

Foresight Global Investors Inc. trimmed its holdings in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 6.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 154,495 shares of the transportation company’s stock after selling 10,323 shares during the quarter. Canadian National Railway makes up approximately 11.4% of Foresight Global Investors Inc.’s investment portfolio, making the stock its 5th biggest holding. Foresight Global Investors Inc.’s holdings in Canadian National Railway were worth $16,074,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in shares of Canadian National Railway by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 23,927,393 shares of the transportation company’s stock valued at $2,493,163,000 after acquiring an additional 761,454 shares during the period. TD Asset Management Inc boosted its position in Canadian National Railway by 2.3% during the second quarter. TD Asset Management Inc now owns 12,072,540 shares of the transportation company’s stock valued at $1,255,385,000 after purchasing an additional 273,974 shares in the last quarter. 1832 Asset Management L.P. grew its stake in Canadian National Railway by 6.0% in the first quarter. 1832 Asset Management L.P. now owns 11,243,512 shares of the transportation company’s stock valued at $1,095,793,000 after purchasing an additional 636,147 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Canadian National Railway by 20.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,638,443 shares of the transportation company’s stock worth $646,983,000 after purchasing an additional 1,148,569 shares in the last quarter. Finally, Deutsche Bank AG raised its holdings in Canadian National Railway by 8.0% in the first quarter. Deutsche Bank AG now owns 6,155,864 shares of the transportation company’s stock worth $599,951,000 after purchasing an additional 454,439 shares in the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Analysts Set New Price Targets

CNI has been the topic of a number of recent analyst reports. Royal Bank Of Canada raised their price target on shares of Canadian National Railway from $148.00 to $158.00 and gave the company an “outperform” rating in a report on Monday, November 3rd. Susquehanna increased their target price on shares of Canadian National Railway from $115.00 to $116.00 and gave the company a “positive” rating in a research report on Monday, November 3rd. Evercore ISI raised their target price on shares of Canadian National Railway from $98.00 to $103.00 and gave the company an “in-line” rating in a research note on Monday, November 3rd. Wells Fargo & Company reduced their price target on Canadian National Railway from $117.00 to $110.00 and set an “overweight” rating on the stock in a research report on Monday, October 6th. Finally, Bank of America decreased their price objective on Canadian National Railway from $106.00 to $102.00 and set a “neutral” rating for the company in a report on Monday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Canadian National Railway presently has a consensus rating of “Hold” and a consensus price target of $114.00.

Canadian National Railway Stock Performance

Shares of CNI opened at $94.06 on Thursday. The stock has a 50-day moving average of $94.70 and a two-hundred day moving average of $98.25. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.58 and a current ratio of 0.82. The stock has a market cap of $57.99 billion, a P/E ratio of 18.09, a P/E/G ratio of 2.13 and a beta of 0.95. Canadian National Railway Company has a one year low of $90.74 and a one year high of $112.06.

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 (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.05. Canadian National Railway had a return on equity of 21.71% and a net margin of 26.63%.The firm had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $4.15 billion. During the same period last year, the business posted $1.72 earnings per share. The company’s revenue for the quarter was up 1.3% compared to the same quarter last year. As a group, research analysts predict that Canadian National Railway Company will post 5.52 EPS for the current year.

Canadian National Railway Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 9th will be paid a dividend of $0.8875 per share. This represents a $3.55 annualized dividend and a yield of 3.8%. The ex-dividend date is Tuesday, December 9th. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.65. Canadian National Railway’s dividend payout ratio (DPR) is presently 48.01%.

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.