Harbour Trust & Investment Management Co Sells 886 Shares of Canadian National Railway Company $CNI

Harbour Trust & Investment Management Co reduced its stake in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 0.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 94,829 shares of the transportation company’s stock after selling 886 shares during the quarter. Canadian National Railway comprises approximately 1.1% of Harbour Trust & Investment Management Co’s holdings, making the stock its 27th largest position. Harbour Trust & Investment Management Co’s holdings in Canadian National Railway were worth $9,866,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Dagco Inc. bought a new stake in shares of Canadian National Railway in the 1st quarter worth approximately $32,000. CX Institutional bought a new stake in shares of Canadian National Railway in the 1st quarter worth approximately $39,000. Brooklyn Investment Group boosted its position in shares of Canadian National Railway by 354.3% in the 1st quarter. Brooklyn Investment Group now owns 427 shares of the transportation company’s stock worth $42,000 after purchasing an additional 333 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in shares of Canadian National Railway by 42.7% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 558 shares of the transportation company’s stock worth $58,000 after purchasing an additional 167 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Canadian National Railway by 31.3% in the 1st quarter. GAMMA Investing LLC now owns 718 shares of the transportation company’s stock worth $70,000 after purchasing an additional 171 shares in the last quarter. 80.74% of the stock is owned by institutional investors.

Canadian National Railway Price Performance

Shares of CNI opened at $96.15 on Tuesday. The firm has a market cap of $59.69 billion, a PE ratio of 18.49, a P/E/G ratio of 2.14 and a beta of 0.96. The company has a current ratio of 0.82, a quick ratio of 0.58 and a debt-to-equity ratio of 0.90. The firm has a fifty day simple moving average of $94.59 and a two-hundred day simple moving average of $98.93. Canadian National Railway Company has a 1-year low of $91.07 and a 1-year high of $116.79.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its earnings results on Tuesday, July 22nd. The transportation company reported $1.35 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.02). The company had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $4.34 billion. Canadian National Railway had a net margin of 26.63% and a return on equity of 21.71%. Canadian National Railway’s quarterly revenue was down 1.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.84 earnings per share. On average, equities analysts anticipate that Canadian National Railway Company will post 5.52 EPS for the current year.

Canadian National Railway Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 8th were paid a $0.6507 dividend. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.62. The ex-dividend date was Monday, September 8th. This represents a $2.60 annualized dividend and a dividend yield of 2.7%. Canadian National Railway’s dividend payout ratio (DPR) is currently 50.19%.

Wall Street Analysts Forecast Growth

CNI has been the topic of several analyst reports. Argus raised Canadian National Railway to a “hold” rating in a research report on Friday, June 27th. Susquehanna lowered their price objective on Canadian National Railway from $120.00 to $115.00 and set a “positive” rating on the stock in a research report on Thursday, September 25th. National Bank Financial cut Canadian National Railway from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, July 23rd. Evercore ISI cut Canadian National Railway from an “outperform” rating to an “in-line” rating and set a $105.00 price objective on the stock. in a research report on Wednesday, July 23rd. Finally, Raymond James Financial raised Canadian National Railway from a “market perform” rating to an “outperform” rating in a research report on Thursday, July 17th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $113.90.

About Canadian National Railway

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.