Harbour Investments Inc. Raises Stake in Canadian National Railway (NYSE:CNI)

Harbour Investments Inc. increased its stake in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 5.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 3,146 shares of the transportation company’s stock after acquiring an additional 158 shares during the quarter. Harbour Investments Inc.’s holdings in Canadian National Railway were worth $369,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Manning & Napier Advisors LLC purchased a new stake in shares of Canadian National Railway in the second quarter valued at approximately $134,096,000. Sterling Investment Management LLC lifted its holdings in shares of Canadian National Railway by 17.2% in the 3rd quarter. Sterling Investment Management LLC now owns 36,279 shares of the transportation company’s stock worth $4,250,000 after buying an additional 5,329 shares during the period. Summit Global Investments bought a new position in shares of Canadian National Railway during the 3rd quarter worth $636,000. Sumitomo Life Insurance Co. purchased a new position in shares of Canadian National Railway during the second quarter valued at $1,321,000. Finally, Fiera Capital Corp raised its holdings in shares of Canadian National Railway by 13.3% in the second quarter. Fiera Capital Corp now owns 5,443,461 shares of the transportation company’s stock valued at $643,503,000 after acquiring an additional 638,817 shares in the last quarter. 80.74% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CNI has been the topic of several recent research reports. Sanford C. Bernstein dropped their target price on shares of Canadian National Railway from $130.67 to $126.29 and set a “market perform” rating on the stock in a report on Wednesday, October 9th. Stifel Nicolaus lifted their price objective on shares of Canadian National Railway from $130.00 to $132.00 and gave the company a “hold” rating in a report on Wednesday, October 23rd. Susquehanna reduced their price objective on shares of Canadian National Railway from $130.00 to $125.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Stephens reaffirmed an “equal weight” rating and set a $116.00 target price on shares of Canadian National Railway in a research report on Wednesday, October 23rd. Finally, Evercore ISI reduced their price target on Canadian National Railway from $119.00 to $116.00 and set an “in-line” rating for the company in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $125.48.

Canadian National Railway Stock Down 1.0 %

NYSE:CNI opened at $108.90 on Friday. The company has a current ratio of 0.64, a quick ratio of 0.49 and a debt-to-equity ratio of 0.96. Canadian National Railway has a twelve month low of $107.54 and a twelve month high of $134.02. The company has a market cap of $68.58 billion, a PE ratio of 17.45, a P/E/G ratio of 2.49 and a beta of 0.89. The company’s 50 day moving average is $114.04 and its two-hundred day moving average is $117.73.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings data on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.02. The firm had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.08 billion. Canadian National Railway had a net margin of 31.65% and a return on equity of 23.62%. The business’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.26 earnings per share. Analysts anticipate that Canadian National Railway will post 5.49 EPS for the current year.

Canadian National Railway Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be paid a $0.6108 dividend. This represents a $2.44 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend is Monday, December 9th. Canadian National Railway’s payout ratio is 39.26%.

Canadian National Railway 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.