Canadian National Railway Company $CNI Shares Sold by Harbour Trust & Investment Management Co

Harbour Trust & Investment Management Co trimmed its stake in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 22.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 21,437 shares of the transportation company’s stock after selling 6,103 shares during the period. Harbour Trust & Investment Management Co’s holdings in Canadian National Railway were worth $2,119,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in the stock. AQR Capital Management LLC acquired a new position in Canadian National Railway during the first quarter worth $311,000. Focus Partners Wealth grew its stake in shares of Canadian National Railway by 11.1% in the first quarter. Focus Partners Wealth now owns 11,514 shares of the transportation company’s stock valued at $1,122,000 after buying an additional 1,146 shares in the last quarter. Schnieders Capital Management LLC. acquired a new stake in shares of Canadian National Railway in the second quarter valued at $202,000. EverSource Wealth Advisors LLC raised its holdings in shares of Canadian National Railway by 52.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,118 shares of the transportation company’s stock valued at $116,000 after buying an additional 383 shares during the period. Finally, Baird Financial Group Inc. lifted its stake in Canadian National Railway by 2.9% during the 2nd quarter. Baird Financial Group Inc. now owns 17,094 shares of the transportation company’s stock worth $1,778,000 after acquiring an additional 474 shares in the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Canadian National Railway Stock Down 0.6%

CNI stock opened at $109.47 on Thursday. The company’s 50 day moving average price is $106.86 and its 200 day moving average price is $100.64. The firm has a market capitalization of $66.64 billion, a price-to-earnings ratio of 20.16, a PEG ratio of 2.07 and a beta of 0.91. Canadian National Railway Company has a fifty-two week low of $90.74 and a fifty-two week high of $113.08. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.47 and a current ratio of 0.67.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings results on Friday, January 30th. The transportation company reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.06. Canadian National Railway had a net margin of 27.28% and a return on equity of 22.14%. The company had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $4.43 billion. During the same quarter in the previous year, the firm earned $1.82 earnings per share. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. On average, equities research analysts anticipate that Canadian National Railway Company will post 5.75 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 10th were paid a dividend of $0.915 per share. The ex-dividend date was Tuesday, March 10th. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.89. This represents a $3.66 dividend on an annualized basis and a dividend yield of 3.3%. Canadian National Railway’s payout ratio is presently 49.36%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on CNI shares. Evercore dropped their target price on Canadian National Railway from $105.00 to $103.00 and set an “in-line” rating for the company in a research report on Monday, February 2nd. Barclays lifted their price objective on shares of Canadian National Railway from $97.00 to $98.00 and gave the company an “equal weight” rating in a report on Friday, March 27th. Bank of America raised shares of Canadian National Railway from a “neutral” rating to a “buy” rating and upped their target price for the stock from $117.00 to $122.00 in a research note on Thursday, April 9th. BMO Capital Markets reissued an “outperform” rating on shares of Canadian National Railway in a research report on Monday, February 2nd. Finally, Vertical Research upgraded shares of Canadian National Railway from a “hold” rating to a “buy” rating in a research note on Monday, January 5th. Nine research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $119.14.

Canadian National Railway Company Profile

Canadian National Railway Company (NYSE: CNI) is a Class I freight railway that operates an integrated rail network across Canada and the United States. Headquartered in Montreal, Quebec, CN provides long-haul freight transportation and related logistics services that connect major ports, industrial centers and inland markets throughout North America. Its transcontinental system enables cross-border movement of goods and supports supply chains that span coast-to-coast in Canada and into the central and eastern United States.

CN’s core business is the railborne transportation of a broad mix of commodities, including intermodal container traffic, forest and paper products, grain and other agricultural products, metallurgical and industrial products, petroleum and chemical products, coal and automotive shipments.