Franklin Resources Inc. Grows Holdings in Canadian National Railway Company $CNI

Franklin Resources Inc. grew its position in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 18.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 583,219 shares of the transportation company’s stock after acquiring an additional 91,790 shares during the period. Franklin Resources Inc. owned about 0.09% of Canadian National Railway worth $60,794,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in Canadian National Railway by 3.3% in the second quarter. Vanguard Group Inc. now owns 23,927,393 shares of the transportation company’s stock valued at $2,493,163,000 after purchasing an additional 761,454 shares during the period. TD Asset Management Inc lifted its position in shares of Canadian National Railway by 2.3% during the 2nd quarter. TD Asset Management Inc now owns 12,072,540 shares of the transportation company’s stock valued at $1,255,385,000 after buying 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 1st 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 acquiring an additional 636,147 shares during the period. Mackenzie Financial Corp grew its stake in Canadian National Railway by 6.3% in the 1st quarter. Mackenzie Financial Corp now owns 8,571,806 shares of the transportation company’s stock valued at $834,129,000 after acquiring an additional 505,588 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in Canadian National Railway by 20.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,638,443 shares of the transportation company’s stock worth $646,983,000 after acquiring an additional 1,148,569 shares in the last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on CNI. Bank of America decreased their price objective on shares of Canadian National Railway from $106.00 to $102.00 and set a “neutral” rating on the stock in a report on Monday, September 29th. Zacks Research lowered shares of Canadian National Railway from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 23rd. Barclays reduced their target price on Canadian National Railway from $99.00 to $97.00 and set an “equal weight” rating for the company in a report on Thursday, October 2nd. Weiss Ratings restated a “hold (c-)” rating on shares of Canadian National Railway in a research report on Wednesday, October 8th. Finally, Royal Bank Of Canada boosted their price target on Canadian National Railway from $148.00 to $158.00 and gave the stock an “outperform” rating in a research report on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $114.00.

Canadian National Railway Stock Down 2.3%

Shares of NYSE:CNI opened at $90.88 on Tuesday. Canadian National Railway Company has a 52-week low of $90.74 and a 52-week high of $112.97. The stock has a market cap of $56.03 billion, a P/E ratio of 17.48, a PEG ratio of 2.13 and a beta of 0.95. The business has a fifty day moving average of $94.77 and a two-hundred day moving average of $98.33. The company has a quick ratio of 0.58, a current ratio of 0.82 and a debt-to-equity ratio of 0.90.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings results on Friday, October 31st. The transportation company reported $1.33 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 business had revenue of $2.99 billion for the quarter, compared to analyst estimates of $4.15 billion. During the same quarter in the previous year, the firm earned $1.72 EPS. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. On average, research analysts expect that Canadian National Railway Company will post 5.52 earnings per share for the current year.

Canadian National Railway Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 9th will be issued a $0.8875 dividend. This represents a $3.55 annualized dividend and a yield of 3.9%. 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.