Harbour Trust & Investment Management Co Grows Stock Holdings in Canadian National Railway (NYSE:CNI)

Harbour Trust & Investment Management Co lifted its position in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 0.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 96,818 shares of the transportation company’s stock after buying an additional 535 shares during the quarter. Canadian National Railway makes up 1.3% of Harbour Trust & Investment Management Co’s investment portfolio, making the stock its 23rd largest holding. Harbour Trust & Investment Management Co’s holdings in Canadian National Railway were worth $11,342,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. GQG Partners LLC increased its position in shares of Canadian National Railway by 0.8% during the first quarter. GQG Partners LLC now owns 11,424 shares of the transportation company’s stock worth $1,505,000 after acquiring an additional 93 shares during the period. Choreo LLC raised its position in Canadian National Railway by 1.5% in the 1st quarter. Choreo LLC now owns 6,427 shares of the transportation company’s stock valued at $846,000 after purchasing an additional 97 shares in the last quarter. Grove Bank & Trust boosted its stake in shares of Canadian National Railway by 15.3% in the 3rd quarter. Grove Bank & Trust now owns 730 shares of the transportation company’s stock valued at $86,000 after buying an additional 97 shares during the period. B. Riley Wealth Advisors Inc. grew its position in shares of Canadian National Railway by 2.5% during the first quarter. B. Riley Wealth Advisors Inc. now owns 4,156 shares of the transportation company’s stock worth $547,000 after buying an additional 100 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. increased its stake in shares of Canadian National Railway by 1.1% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 9,350 shares of the transportation company’s stock worth $1,105,000 after buying an additional 102 shares during the period. Institutional investors and hedge funds own 80.74% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on CNI. Stephens reiterated an “equal weight” rating and set a $116.00 price target on shares of Canadian National Railway in a report on Wednesday. Susquehanna lowered their target price on shares of Canadian National Railway from $130.00 to $125.00 and set a “neutral” rating for the company in a research note on Wednesday. National Bank Financial upgraded Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research note on Thursday, June 27th. The Goldman Sachs Group lowered their price objective on Canadian National Railway from $131.00 to $124.00 and set a “sell” rating for the company in a research report on Wednesday, October 9th. Finally, Royal Bank of Canada upgraded Canadian National Railway from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, three have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $125.18.

Canadian National Railway Price Performance

Shares of CNI opened at $110.83 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.48 and a current ratio of 0.63. Canadian National Railway has a fifty-two week low of $103.96 and a fifty-two week high of $134.02. The firm has a 50-day simple moving average of $116.02 and a 200-day simple moving average of $119.72. The company has a market capitalization of $69.80 billion, a price-to-earnings ratio of 17.76, a price-to-earnings-growth ratio of 2.50 and a beta of 0.88.

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

Canadian National Railway Cuts Dividend

The company 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 $0.6108 dividend. The ex-dividend date is Monday, December 9th. This represents a $2.44 annualized dividend and a yield of 2.20%. Canadian National Railway’s dividend payout ratio is currently 39.26%.

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.