Canadian National Railway Company $CNI Shares Sold by K.J. Harrison & Partners Inc

K.J. Harrison & Partners Inc cut its stake in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 23.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,981 shares of the transportation company’s stock after selling 6,500 shares during the quarter. K.J. Harrison & Partners Inc’s holdings in Canadian National Railway were worth $2,155,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. High Point Wealth Management LLC purchased a new stake in Canadian National Railway during the 4th quarter worth approximately $27,000. MidFirst Bank purchased a new position in shares of Canadian National Railway in the fourth quarter valued at approximately $31,000. Curio Wealth LLC acquired a new stake in shares of Canadian National Railway in the fourth quarter worth approximately $31,000. Caitong International Asset Management Co. Ltd increased its position in shares of Canadian National Railway by 378.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 354 shares of the transportation company’s stock worth $35,000 after purchasing an additional 280 shares in the last quarter. Finally, MBM Wealth Consultants LLC purchased a new stake in shares of Canadian National Railway during the first quarter worth approximately $37,000. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Barclays raised their price objective on Canadian National Railway from $99.00 to $109.00 and gave the company an “equal weight” rating in a report on Thursday, June 25th. Sanford C. Bernstein upped their target price on shares of Canadian National Railway from $113.88 to $117.36 and gave the stock a “market perform” rating in a report on Tuesday, March 31st. Citigroup increased their target price on shares of Canadian National Railway from $123.00 to $124.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Canadian Imperial Bank of Commerce raised their price target on shares of Canadian National Railway from C$182.00 to C$185.00 and gave the stock an “outperformer” rating in a research note on Thursday, June 25th. Finally, Weiss Ratings upgraded shares of Canadian National Railway from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, June 23rd. Ten investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $126.12.

Canadian National Railway Stock Down 0.0%

Shares of NYSE CNI opened at $121.51 on Friday. The company has a 50 day simple moving average of $116.00 and a 200-day simple moving average of $107.78. The company has a market capitalization of $73.72 billion, a P/E ratio of 22.09, a P/E/G ratio of 2.29 and a beta of 0.96. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.67 and a quick ratio of 0.49. Canadian National Railway Company has a 1 year low of $90.74 and a 1 year high of $122.48.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings data on Wednesday, April 29th. The transportation company reported $1.31 earnings per share for the quarter, hitting the consensus estimate of $1.31. The company had revenue of $3.15 billion during the quarter, compared to analyst estimates of $3.15 billion. Canadian National Railway had a return on equity of 21.90% and a net margin of 27.22%.The firm’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.85 earnings per share. On average, equities research analysts predict that Canadian National Railway Company will post 5.75 earnings per share for the current year.

Canadian National Railway Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th were issued a dividend of $0.915 per share. The ex-dividend date was Tuesday, June 9th. This represents a $3.66 dividend on an annualized basis and a dividend yield of 3.0%. Canadian National Railway’s dividend payout ratio is currently 48.55%.

Canadian National Railway 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.