Harrington Investments INC Lowers Stock Position in Canadian National Railway (NYSE:CNI)

Harrington Investments INC lowered its position in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 4.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,526 shares of the transportation company’s stock after selling 820 shares during the period. Harrington Investments INC’s holdings in Canadian National Railway were worth $1,982,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. National Bank of Canada FI raised its stake in Canadian National Railway by 46.5% in the third quarter. National Bank of Canada FI now owns 6,737,322 shares of the transportation company’s stock worth $789,030,000 after buying an additional 2,137,948 shares in the last quarter. Canoe Financial LP bought a new stake in shares of Canadian National Railway in the fourth quarter worth approximately $216,943,000. Point72 Asset Management L.P. bought a new stake in shares of Canadian National Railway in the third quarter worth $159,907,000. Wellington Management Group LLP increased its holdings in Canadian National Railway by 4.4% during the third quarter. Wellington Management Group LLP now owns 18,562,189 shares of the transportation company’s stock valued at $2,175,935,000 after buying an additional 790,420 shares during the last quarter. Finally, Toronto Dominion Bank raised its stake in shares of Canadian National Railway by 64.5% in the third quarter. Toronto Dominion Bank now owns 1,492,218 shares of the transportation company’s stock worth $174,813,000 after buying an additional 584,832 shares during the period. 80.74% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CNI. Wells Fargo & Company cut their price objective on Canadian National Railway from $125.00 to $123.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. TD Securities upgraded Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 13th. Loop Capital downgraded shares of Canadian National Railway from a “hold” rating to a “sell” rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. raised Canadian National Railway from a “neutral” rating to an “overweight” rating in a research report on Tuesday, January 7th. Finally, Barclays dropped their price objective on shares of Canadian National Railway from $121.00 to $112.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, Canadian National Railway currently has a consensus rating of “Moderate Buy” and an average price target of $124.19.

Canadian National Railway Trading Up 1.9 %

Shares of Canadian National Railway stock opened at $97.70 on Friday. The company has a market capitalization of $61.38 billion, a P/E ratio of 19.08, a P/E/G ratio of 1.95 and a beta of 0.91. The business has a 50 day moving average price of $101.77 and a 200 day moving average price of $107.98. Canadian National Railway has a 1 year low of $93.64 and a 1 year high of $134.02. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.66 and a quick ratio of 0.48.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings data on Thursday, January 30th. The transportation company reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.09). Canadian National Railway had a return on equity of 22.48% and a net margin of 26.09%. Sell-side analysts anticipate that Canadian National Railway will post 5.52 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a dividend of $0.6159 per share. This represents a $2.46 dividend on an annualized basis and a yield of 2.52%. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.61. The ex-dividend date is Monday, March 10th. Canadian National Railway’s dividend payout ratio is 47.85%.

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.