First Trust Direct Indexing L.P. Has $1.24 Million Stock Holdings in Canadian National Railway (NYSE:CNI)

First Trust Direct Indexing L.P. increased its holdings in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 4.2% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 9,402 shares of the transportation company’s stock after purchasing an additional 382 shares during the period. First Trust Direct Indexing L.P.’s holdings in Canadian National Railway were worth $1,238,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. GAMMA Investing LLC boosted its stake in shares of Canadian National Railway by 766.7% in the first quarter. GAMMA Investing LLC now owns 234 shares of the transportation company’s stock valued at $31,000 after buying an additional 207 shares during the period. Keener Financial Planning LLC bought a new position in shares of Canadian National Railway in the fourth quarter worth $46,000. Knuff & Co LLC acquired a new position in Canadian National Railway in the fourth quarter valued at about $50,000. ICA Group Wealth Management LLC bought a new stake in Canadian National Railway during the fourth quarter worth about $56,000. Finally, Partnership Wealth Management LLC acquired a new stake in Canadian National Railway during the fourth quarter worth about $65,000. Institutional investors and hedge funds own 80.74% of the company’s stock.

Canadian National Railway Trading Up 1.3 %

Shares of CNI stock opened at $119.09 on Friday. Canadian National Railway has a 12-month low of $103.96 and a 12-month high of $134.02. The company has a quick ratio of 0.46, a current ratio of 0.60 and a debt-to-equity ratio of 0.84. The company has a 50 day moving average of $123.21 and a 200-day moving average of $126.10. The firm has a market cap of $75.56 billion, a P/E ratio of 18.99, a PEG ratio of 2.09 and a beta of 0.89.

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

Canadian National Railway Cuts Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on CNI shares. Benchmark restated a “hold” rating on shares of Canadian National Railway in a research report on Wednesday, April 24th. StockNews.com downgraded shares of Canadian National Railway from a “buy” rating to a “hold” rating in a research report on Wednesday, May 22nd. Bank of America raised Canadian National Railway from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $140.00 to $145.00 in a report on Wednesday, April 10th. Susquehanna decreased their target price on shares of Canadian National Railway from $142.00 to $135.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 25th. Finally, National Bank Financial upgraded Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research report on Thursday, June 27th. Eighteen research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Canadian National Railway presently has an average rating of “Hold” and an average price target of $148.95.

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.