Harrington Investments INC Raises Holdings in Canadian National Railway (NYSE:CNI)

Harrington Investments INC lifted its holdings in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 0.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,346 shares of the transportation company’s stock after buying an additional 130 shares during the period. Canadian National Railway comprises 1.3% of Harrington Investments INC’s investment portfolio, making the stock its 29th biggest holding. Harrington Investments INC’s holdings in Canadian National Railway were worth $2,384,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. GQG Partners LLC raised its stake in shares of Canadian National Railway by 0.8% during the 1st quarter. GQG Partners LLC now owns 11,424 shares of the transportation company’s stock worth $1,505,000 after buying an additional 93 shares in the last quarter. Choreo LLC grew its holdings in shares of Canadian National Railway by 1.5% in the 1st quarter. Choreo LLC now owns 6,427 shares of the transportation company’s stock worth $846,000 after acquiring an additional 97 shares during the period. Grove Bank & Trust grew its holdings in shares of Canadian National Railway by 15.3% in the 3rd quarter. Grove Bank & Trust now owns 730 shares of the transportation company’s stock worth $86,000 after acquiring an additional 97 shares during the period. B. Riley Wealth Advisors Inc. grew its holdings in shares of Canadian National Railway by 2.5% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 4,156 shares of the transportation company’s stock worth $547,000 after acquiring an additional 100 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Canadian National Railway by 1.1% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 9,350 shares of the transportation company’s stock worth $1,105,000 after acquiring an additional 102 shares during the period. 80.74% of the stock is owned by hedge funds and other institutional investors.

Canadian National Railway Price Performance

CNI stock opened at $115.52 on Tuesday. Canadian National Railway has a 52-week low of $103.96 and a 52-week high of $134.02. The stock’s fifty day simple moving average is $115.63 and its 200-day simple moving average is $120.47. The company has a quick ratio of 0.48, a current ratio of 0.63 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $73.06 billion, a price-to-earnings ratio of 18.42, a price-to-earnings-growth ratio of 2.55 and a beta of 0.88.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings data on Tuesday, July 23rd. The transportation company reported $1.84 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. Canadian National Railway’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.31 EPS. Equities research analysts expect that Canadian National Railway will post 5.54 EPS for the current year.

Canadian National Railway Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 6th were given a $0.614 dividend. This represents a $2.46 annualized dividend and a dividend yield of 2.13%. The ex-dividend date was Friday, September 6th. Canadian National Railway’s dividend payout ratio (DPR) is currently 39.07%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CNI. Barclays upped their price target on Canadian National Railway from $120.00 to $121.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. Stephens lowered their price target on Canadian National Railway from $127.00 to $122.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 24th. Royal Bank of Canada upgraded Canadian National Railway from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. National Bank Financial upgraded Canadian National Railway from a “sector perform” rating to an “outperform” rating in a report on Thursday, June 27th. Finally, Evercore ISI lowered their target price on Canadian National Railway from $128.00 to $119.00 and set an “in-line” rating on the stock in a report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $126.02.

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.