Harbour Investments Inc. Grows Stock Position in Canadian National Railway (NYSE:CNI)

Harbour Investments Inc. boosted its stake in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 6.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,988 shares of the transportation company’s stock after purchasing an additional 171 shares during the quarter. Harbour Investments Inc.’s holdings in Canadian National Railway were worth $353,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CNI. International Assets Investment Management LLC purchased a new position in Canadian National Railway in the fourth quarter valued at $47,980,000. CWM LLC increased its holdings in shares of Canadian National Railway by 25.0% in the 4th quarter. CWM LLC now owns 3,730 shares of the transportation company’s stock valued at $469,000 after acquiring an additional 747 shares during the last quarter. Mather Group LLC. raised its position in shares of Canadian National Railway by 108.8% during the 4th quarter. Mather Group LLC. now owns 4,351 shares of the transportation company’s stock worth $547,000 after acquiring an additional 2,267 shares in the last quarter. Van ECK Associates Corp lifted its stake in Canadian National Railway by 3.3% during the fourth quarter. Van ECK Associates Corp now owns 151,874 shares of the transportation company’s stock worth $19,100,000 after purchasing an additional 4,789 shares during the last quarter. Finally, Mission Wealth Management LP purchased a new stake in Canadian National Railway during the fourth quarter worth approximately $1,187,000. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Canadian National Railway Price Performance

Shares of CNI opened at $116.95 on Friday. The company has a current ratio of 0.63, a quick ratio of 0.48 and a debt-to-equity ratio of 0.93. The stock’s 50 day moving average is $116.31 and its two-hundred day moving average is $123.57. The firm has a market capitalization of $73.65 billion, a PE ratio of 18.65, a P/E/G ratio of 2.40 and a beta of 0.89. Canadian National Railway has a twelve month low of $103.96 and a twelve month high of $134.02.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings data on Tuesday, July 23rd. The transportation company reported $1.84 earnings per share for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.09). The business had revenue of $4.33 billion for the quarter, compared to analyst estimates of $4.40 billion. Canadian National Railway had a return on equity of 23.58% and a net margin of 32.00%. The company’s revenue was up 6.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.31 EPS. Research analysts anticipate that Canadian National Railway will post 5.63 earnings per share for the current year.

Canadian National Railway Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 6th will be paid a $0.614 dividend. This represents a $2.46 annualized dividend and a dividend yield of 2.10%. The ex-dividend date is Friday, September 6th. Canadian National Railway’s dividend payout ratio (DPR) is 39.23%.

Analysts Set New Price Targets

CNI has been the topic of a number of research analyst reports. National Bank Financial raised shares of Canadian National Railway from a “sector perform” rating to an “outperform” rating in a report on Thursday, June 27th. Stephens cut their price target on shares of Canadian National Railway from $127.00 to $122.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 24th. Benchmark restated a “hold” rating on shares of Canadian National Railway in a research note on Wednesday, July 24th. Wells Fargo & Company cut their target price on Canadian National Railway from $130.00 to $125.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 24th. Finally, Susquehanna decreased their target price on Canadian National Railway from $135.00 to $130.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. Sixteen investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $138.35.

Canadian National Railway Company Profile

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.