Hemenway Trust Co LLC Reduces Position in Canadian National Railway Company $CNI

Hemenway Trust Co LLC lessened its stake in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 13.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 154,132 shares of the transportation company’s stock after selling 23,664 shares during the quarter. Hemenway Trust Co LLC’s holdings in Canadian National Railway were worth $14,535,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the business. Norges Bank purchased a new position in Canadian National Railway during the second quarter worth about $591,904,000. Fisher Asset Management LLC acquired a new stake in Canadian National Railway in the 2nd quarter valued at $189,748,000. Troy Asset Management Ltd raised its holdings in shares of Canadian National Railway by 158.8% during the 3rd quarter. Troy Asset Management Ltd now owns 2,738,372 shares of the transportation company’s stock valued at $258,220,000 after buying an additional 1,680,223 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of Canadian National Railway by 26.6% during the second quarter. The Manufacturers Life Insurance Company now owns 6,705,679 shares of the transportation company’s stock worth $695,048,000 after purchasing an additional 1,408,978 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in Canadian National Railway by 20.1% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 6,296,828 shares of the transportation company’s stock worth $655,768,000 after buying an additional 1,051,977 shares in the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Canadian Imperial Bank of Commerce raised Canadian National Railway from a “hold” rating to an “outperformer” rating and upped their target price for the company from $146.00 to $151.00 in a research report on Friday, November 28th. Royal Bank Of Canada lowered their target price on Canadian National Railway from $153.00 to $151.00 and set an “outperform” rating for the company in a report on Monday, February 2nd. Citigroup cut their price objective on shares of Canadian National Railway from $119.00 to $115.00 and set a “buy” rating on the stock in a research report on Monday, February 2nd. Vertical Research upgraded Canadian National Railway from a “hold” rating to a “buy” rating in a research report on Monday, January 5th. Finally, Barclays decreased their price objective on shares of Canadian National Railway from $140.00 to $135.00 and set an “equal weight” rating for the company in a report on Monday, February 2nd. Ten investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $118.91.

Canadian National Railway Stock Up 1.5%

Shares of NYSE:CNI opened at $109.49 on Friday. The company has a market cap of $67.13 billion, a PE ratio of 20.16, a price-to-earnings-growth ratio of 2.27 and a beta of 0.94. The firm has a 50 day simple moving average of $100.30 and a 200 day simple moving average of $96.83. 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 Company has a 52 week low of $90.74 and a 52 week high of $109.90.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings data on Friday, January 30th. The transportation company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.06. The firm had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $4.43 billion. Canadian National Railway had a return on equity of 22.14% and a net margin of 27.28%.The business’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.82 EPS. As a group, research analysts expect that Canadian National Railway Company will post 5.52 earnings per share for the current year.

Canadian National Railway Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 10th will be issued a dividend of $0.915 per share. The ex-dividend date is Tuesday, March 10th. This represents a $3.66 annualized dividend and a dividend yield of 3.3%. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.89. Canadian National Railway’s dividend payout ratio is presently 46.59%.

About Canadian National Railway

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.