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

Harbour Trust & Investment Management Co trimmed its holdings in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 22.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,437 shares of the transportation company’s stock after selling 6,103 shares during the quarter. Harbour Trust & Investment Management Co’s holdings in Canadian National Railway were worth $2,119,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in CNI. Vanguard Group Inc. raised its position in Canadian National Railway by 1.6% during the third quarter. Vanguard Group Inc. now owns 24,300,252 shares of the transportation company’s stock worth $2,291,562,000 after acquiring an additional 372,859 shares during the period. Bank of Montreal Can grew its position in shares of Canadian National Railway by 0.3% in the third quarter. Bank of Montreal Can now owns 14,201,675 shares of the transportation company’s stock valued at $1,338,948,000 after purchasing an additional 42,907 shares during the period. Caisse de depot et placement du Quebec increased its stake in shares of Canadian National Railway by 1.1% during the third quarter. Caisse de depot et placement du Quebec now owns 13,894,922 shares of the transportation company’s stock worth $1,310,600,000 after purchasing an additional 157,000 shares in the last quarter. Lazard Asset Management LLC raised its position in shares of Canadian National Railway by 639,137.0% during the 3rd quarter. Lazard Asset Management LLC now owns 8,955,711 shares of the transportation company’s stock worth $844,353,000 after purchasing an additional 8,954,310 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its stake in Canadian National Railway by 0.4% in the 3rd quarter. Mackenzie Financial Corp now owns 8,626,147 shares of the transportation company’s stock valued at $813,287,000 after buying an additional 35,938 shares in the last quarter. Institutional investors and hedge funds own 80.74% of the company’s stock.

Wall Street Analyst Weigh In

CNI has been the subject of several research reports. BMO Capital Markets reiterated an “outperform” rating on shares of Canadian National Railway in a research note on Monday, February 2nd. Sanford C. Bernstein lifted their price target on Canadian National Railway from $113.88 to $117.36 and gave the stock a “market perform” rating in a research note on Tuesday, March 31st. Vertical Research upgraded Canadian National Railway from a “hold” rating to a “buy” rating in a research report on Monday, January 5th. Weiss Ratings restated a “hold (c)” rating on shares of Canadian National Railway in a report on Monday. Finally, Stephens dropped their target price on shares of Canadian National Railway from $105.00 to $100.00 and set an “equal weight” rating for the company in a report on Monday, February 2nd. Nine analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $119.14.

Canadian National Railway Price Performance

Shares of CNI stock opened at $109.47 on Thursday. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.67 and a quick ratio of 0.47. The company has a market capitalization of $66.64 billion, a PE ratio of 20.16, a price-to-earnings-growth ratio of 2.07 and a beta of 0.91. The firm’s 50-day moving average is $106.86 and its two-hundred day moving average is $100.64. Canadian National Railway Company has a 12 month low of $90.74 and a 12 month high of $113.08.

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

Canadian National Railway Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 10th were given a $0.915 dividend. 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 yield of 3.3%. The ex-dividend date was Tuesday, March 10th. Canadian National Railway’s dividend payout ratio (DPR) is presently 49.36%.

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.