Azzad Asset Management Inc. ADV Increases Position in Canadian National Railway (NYSE:CNI)

Azzad Asset Management Inc. ADV raised its position in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 1.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,141 shares of the transportation company’s stock after purchasing an additional 310 shares during the period. Azzad Asset Management Inc. ADV’s holdings in Canadian National Railway were worth $2,916,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. LPL Financial LLC grew its position in shares of Canadian National Railway by 37.2% in the 3rd quarter. LPL Financial LLC now owns 92,014 shares of the transportation company’s stock valued at $9,968,000 after buying an additional 24,952 shares during the last quarter. Gotham Asset Management LLC grew its position in shares of Canadian National Railway by 129.6% in the 3rd quarter. Gotham Asset Management LLC now owns 12,311 shares of the transportation company’s stock valued at $1,334,000 after buying an additional 6,950 shares during the last quarter. Glenmede Trust Co. NA grew its position in shares of Canadian National Railway by 1.0% in the 3rd quarter. Glenmede Trust Co. NA now owns 16,213 shares of the transportation company’s stock valued at $1,756,000 after buying an additional 154 shares during the last quarter. Advisors Asset Management Inc. grew its position in shares of Canadian National Railway by 4.0% in the 3rd quarter. Advisors Asset Management Inc. now owns 5,903 shares of the transportation company’s stock valued at $639,000 after buying an additional 225 shares during the last quarter. Finally, Evergreen Capital Management LLC grew its position in shares of Canadian National Railway by 17.2% in the 3rd quarter. Evergreen Capital Management LLC now owns 3,938 shares of the transportation company’s stock valued at $427,000 after buying an additional 579 shares during the last quarter. 80.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on CNI. Barclays increased their target price on shares of Canadian National Railway from $127.00 to $130.00 and gave the company an “equal weight” rating in a research report on Thursday, April 4th. Wells Fargo & Company began coverage on shares of Canadian National Railway in a research report on Friday, June 7th. They set an “equal weight” rating and a $130.00 price objective on the stock. Benchmark reissued a “hold” rating on shares of Canadian National Railway in a research report on Wednesday, April 24th. Susquehanna lowered their price objective on shares of Canadian National Railway from $142.00 to $135.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 25th. Finally, Stifel Nicolaus raised their price objective on shares of Canadian National Railway from $121.00 to $134.00 and gave the stock a “hold” rating in a research report on Friday, April 12th. Eighteen research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $148.95.

Canadian National Railway Stock Up 1.3 %

CNI stock opened at $119.10 on Thursday. The company has a market cap of $75.57 billion, a P/E ratio of 19.00, a P/E/G ratio of 2.06 and a beta of 0.89. Canadian National Railway has a 52 week low of $103.96 and a 52 week high of $134.02. The company’s 50-day moving average price is $123.40 and its 200 day moving average price is $126.20. The company has a current ratio of 0.60, a quick ratio of 0.46 and a debt-to-equity ratio of 0.84.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings data on Tuesday, April 23rd. The transportation company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.01. The firm had revenue of $3.15 billion for the quarter, compared to the consensus estimate of $3.16 billion. Canadian National Railway had a net margin of 32.81% and a return on equity of 23.27%. On average, research analysts expect that Canadian National Railway will post 5.89 earnings per share for the current fiscal year.

Canadian National Railway Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 7th were issued a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 2.10%. The ex-dividend date was Friday, June 7th. Canadian National Railway’s dividend payout ratio (DPR) is presently 39.08%.

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.