Franklin Parlapiano Turner & Welch LLC Reduces Stake in Canadian National Railway (CNI)

Franklin Parlapiano Turner & Welch LLC trimmed its position in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 1.9% in the third quarter, Holdings Channel reports. The fund owned 62,822 shares of the transportation company’s stock after selling 1,216 shares during the quarter. Canadian National Railway accounts for 2.3% of Franklin Parlapiano Turner & Welch LLC’s portfolio, making the stock its 14th largest holding. Franklin Parlapiano Turner & Welch LLC’s holdings in Canadian National Railway were worth $5,641,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Palo Capital Inc. bought a new position in shares of Canadian National Railway in the 3rd quarter valued at $114,000. Cubist Systematic Strategies LLC bought a new position in shares of Canadian National Railway in the 1st quarter valued at $117,000. First Hawaiian Bank bought a new position in shares of Canadian National Railway in the 3rd quarter valued at $175,000. Quad Cities Investment Group LLC bought a new position in shares of Canadian National Railway in the 2nd quarter valued at $165,000. Finally, Cornerstone Investment Partners LLC bought a new position in shares of Canadian National Railway in the 3rd quarter valued at $201,000. Institutional investors own 54.15% of the company’s stock.

A number of research analysts have recently commented on the company. Zacks Investment Research upgraded Canadian National Railway from a “hold” rating to a “buy” rating and set a $101.00 price target for the company in a research note on Monday, July 30th. Cowen reiterated a “buy” rating and issued a $98.00 price target on shares of Canadian National Railway in a research note on Wednesday, July 25th. Macquarie upgraded Canadian National Railway from a “neutral” rating to an “outperform” rating in a research note on Thursday, September 20th. Barclays dropped their price target on Canadian National Railway from $80.00 to $77.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 25th. Finally, ValuEngine upgraded Canadian National Railway from a “hold” rating to a “buy” rating in a report on Wednesday, July 25th. Thirteen research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Canadian National Railway presently has a consensus rating of “Hold” and an average price target of $92.07.

NYSE CNI opened at $85.04 on Friday. The firm has a market capitalization of $61.93 billion, a P/E ratio of 21.00, a P/E/G ratio of 2.18 and a beta of 0.97. Canadian National Railway has a twelve month low of $70.59 and a twelve month high of $91.90. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.72 and a quick ratio of 0.58.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings data on Tuesday, October 23rd. The transportation company reported $1.50 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.12 by $0.38. The business had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $3.58 billion. Canadian National Railway had a return on equity of 22.67% and a net margin of 42.06%. Canadian National Railway’s quarterly revenue was up 14.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.31 earnings per share. On average, sell-side analysts anticipate that Canadian National Railway will post 4.18 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, December 7th will be issued a $0.3477 dividend. This represents a $1.39 dividend on an annualized basis and a yield of 1.64%. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.34. The ex-dividend date is Thursday, December 6th. Canadian National Railway’s dividend payout ratio is presently 35.94%.

About Canadian National Railway

Canadian National Railway Company engages in rail and related transportation business. The company transports cargo serving exporters, importers, retailers, farmers, and manufacturers. It operates a network of approximately 20,000 route miles of track spans Canada and mid-America connecting the Atlantic, the Pacific, and the Gulf of Mexico.

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Institutional Ownership by Quarter for Canadian National Railway (NYSE:CNI)

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