Franklin Parlapiano Turner & Welch LLC Boosts Stock Position in Canadian National Railway (NYSE:CNI)

Franklin Parlapiano Turner & Welch LLC grew its position in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 2.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 64,282 shares of the transportation company’s stock after purchasing an additional 1,352 shares during the period. Canadian National Railway accounts for about 1.9% of Franklin Parlapiano Turner & Welch LLC’s investment portfolio, making the stock its 22nd largest position. Franklin Parlapiano Turner & Welch LLC’s holdings in Canadian National Railway were worth $7,531,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC purchased a new stake in shares of Canadian National Railway in the third quarter valued at $52,840,000. Commerzbank Aktiengesellschaft FI acquired a new stake in Canadian National Railway in the 3rd quarter worth about $234,000. Tempus Wealth Planning LLC grew its holdings in Canadian National Railway by 5.5% in the 3rd quarter. Tempus Wealth Planning LLC now owns 7,280 shares of the transportation company’s stock valued at $853,000 after buying an additional 382 shares during the period. Eastern Bank acquired a new position in shares of Canadian National Railway during the 3rd quarter valued at about $478,000. Finally, Prio Wealth Limited Partnership purchased a new position in shares of Canadian National Railway during the 3rd quarter worth about $240,000. Institutional investors and hedge funds own 80.74% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on CNI shares. Scotiabank upgraded shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. The Goldman Sachs Group dropped their price objective on Canadian National Railway from $131.00 to $124.00 and set a “sell” rating for the company in a report on Wednesday, October 9th. Susquehanna reduced their target price on Canadian National Railway from $130.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday. Stephens restated an “equal weight” rating and set a $116.00 price target on shares of Canadian National Railway in a research note on Wednesday. Finally, Barclays raised their price objective on Canadian National Railway from $120.00 to $121.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $125.10.

Canadian National Railway Stock Performance

NYSE:CNI opened at $111.99 on Thursday. The firm has a 50-day moving average of $116.02 and a two-hundred day moving average of $119.72. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.63 and a quick ratio of 0.48. The stock has a market cap of $70.53 billion, a P/E ratio of 17.95, a PEG ratio of 2.50 and a beta of 0.88. Canadian National Railway has a 1-year low of $103.96 and a 1-year high of $134.02.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings results on Tuesday, October 22nd. The transportation company reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.02. Canadian National Railway had a return on equity of 23.49% and a net margin of 31.65%. The firm had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.08 billion. During the same quarter in the prior year, the business posted $1.26 earnings per share. Canadian National Railway’s revenue for the quarter was up 3.1% on a year-over-year basis. On average, research analysts expect that Canadian National Railway will post 5.5 earnings per share for the current fiscal year.

Canadian National Railway Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be paid a dividend of $0.6108 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $2.44 dividend on an annualized basis and a yield of 2.18%. Canadian National Railway’s dividend payout ratio (DPR) is 39.26%.

Canadian National Railway Company 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.