Harbour Trust & Investment Management Co Has $2.60 Million Stock Holdings in Canadian National Railway Company $CNI

Harbour Trust & Investment Management Co trimmed its holdings in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 71.0% during the third quarter, HoldingsChannel reports. The fund owned 27,540 shares of the transportation company’s stock after selling 67,289 shares during the quarter. Harbour Trust & Investment Management Co’s holdings in Canadian National Railway were worth $2,597,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CNI. Vanguard Group Inc. lifted its holdings in shares of Canadian National Railway by 3.3% during the second quarter. Vanguard Group Inc. now owns 23,927,393 shares of the transportation company’s stock worth $2,493,163,000 after purchasing an additional 761,454 shares during the period. TD Asset Management Inc increased its holdings in Canadian National Railway by 2.3% in the second quarter. TD Asset Management Inc now owns 12,072,540 shares of the transportation company’s stock valued at $1,255,385,000 after purchasing an additional 273,974 shares during the period. The Manufacturers Life Insurance Company raised its position in Canadian National Railway by 26.6% during the 2nd 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 during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Canadian National Railway by 20.1% during 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 during the period. Finally, Fiera Capital Corp grew its position in shares of Canadian National Railway by 6.0% in the 2nd quarter. Fiera Capital Corp now owns 5,800,583 shares of the transportation company’s stock valued at $604,025,000 after buying an additional 330,901 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Royal Bank Of Canada raised their price objective on Canadian National Railway from $148.00 to $158.00 and gave the stock an “outperform” rating in a research report on Monday, November 3rd. Vertical Research upgraded shares of Canadian National Railway from a “hold” rating to a “buy” rating in a report on Monday, January 5th. Citigroup dropped their price target on shares of Canadian National Railway from $120.00 to $119.00 and set a “buy” rating on the stock in a research report on Thursday, January 8th. CIBC raised shares of Canadian National Railway from a “neutral” rating to an “outperformer” rating and upped their price objective for the company from $146.00 to $151.00 in a research note on Friday, November 28th. Finally, Wall Street Zen upgraded shares of Canadian National Railway from a “sell” rating to a “hold” rating in a research report on Saturday, October 18th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Canadian National Railway currently has an average rating of “Moderate Buy” and an average target price of $117.64.

Canadian National Railway Price Performance

Shares of CNI opened at $99.23 on Friday. The firm has a market cap of $60.97 billion, a PE ratio of 18.83, a price-to-earnings-growth ratio of 2.03 and a beta of 0.96. Canadian National Railway Company has a 52-week low of $90.74 and a 52-week high of $108.75. The business’s 50 day moving average price is $97.13 and its two-hundred day moving average price is $96.65. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.42 and a current ratio of 0.60.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings data on Friday, October 31st. The transportation company reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.05. Canadian National Railway had a net margin of 26.86% and a return on equity of 21.50%. The company had revenue of $2.99 billion during the quarter, compared to analyst estimates of $4.15 billion. During the same quarter in the previous year, the business posted $1.72 EPS. Canadian National Railway’s revenue for the quarter was up 1.3% compared to the same quarter last year. 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 Tuesday, December 30th. Stockholders of record on Tuesday, December 9th were issued a dividend of $0.8875 per share. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.65. This represents a $3.55 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Tuesday, December 9th. Canadian National Railway’s dividend payout ratio (DPR) is currently 48.01%.

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.