Canadian National Railway Company (NYSE:CNI) Shares Sold by Hemenway Trust Co LLC

Hemenway Trust Co LLC lowered its position in shares of Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 7.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 240,729 shares of the transportation company's stock after selling 19,120 shares during the period. Canadian National Railway comprises approximately 1.9% of Hemenway Trust Co LLC's holdings, making the stock its 25th largest holding. Hemenway Trust Co LLC's holdings in Canadian National Railway were worth $23,461,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CNI. Norges Bank bought a new position in Canadian National Railway in the fourth quarter worth about $563,048,000. Royal Bank of Canada boosted its position in Canadian National Railway by 7.5% in the 4th quarter. Royal Bank of Canada now owns 27,757,038 shares of the transportation company's stock worth $2,817,616,000 after purchasing an additional 1,934,622 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Canadian National Railway by 33.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,489,874 shares of the transportation company's stock worth $557,278,000 after purchasing an additional 1,380,554 shares in the last quarter. Capital International Investors boosted its position in Canadian National Railway by 12.8% in the 4th quarter. Capital International Investors now owns 11,822,063 shares of the transportation company's stock worth $1,199,680,000 after purchasing an additional 1,341,133 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Canadian National Railway by 29.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,814,469 shares of the transportation company's stock valued at $488,488,000 after buying an additional 1,102,977 shares in the last quarter. Hedge funds and other institutional investors own 80.74% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on CNI shares. Wall Street Zen upgraded Canadian National Railway from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Bank of America increased their price target on Canadian National Railway from $105.00 to $115.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Royal Bank Of Canada restated an "outperform" rating and set a $163.00 target price on shares of Canadian National Railway in a report on Thursday, June 5th. Stifel Nicolaus decreased their price objective on Canadian National Railway from $125.00 to $115.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Finally, Jefferies Financial Group decreased their price objective on Canadian National Railway from $120.00 to $110.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $120.36.

Canadian National Railway Stock Performance

Shares of NYSE:CNI traded up $0.04 during trading on Friday, reaching $101.89. The company had a trading volume of 1,114,033 shares, compared to its average volume of 1,324,089. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.62 and a quick ratio of 0.43. Canadian National Railway Company has a fifty-two week low of $91.65 and a fifty-two week high of $123.96. The firm has a market capitalization of $63.98 billion, a price-to-earnings ratio of 19.86, a price-to-earnings-growth ratio of 1.90 and a beta of 0.98. The stock's fifty day moving average price is $102.48 and its 200 day moving average price is $101.60.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last posted its quarterly earnings results on Thursday, May 1st. The transportation company reported $1.29 earnings per share for the quarter, beating analysts' consensus estimates of $1.26 by $0.03. Canadian National Railway had a return on equity of 22.29% and a net margin of 26.19%. The firm had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $4.38 billion. During the same period in the previous year, the business earned $1.72 earnings per share. The company's revenue for the quarter was up 3.6% compared to the same quarter last year. As a group, equities research analysts predict that Canadian National Railway Company will post 5.52 EPS for the current year.

Canadian National Railway Increases Dividend

The firm also recently declared a dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 10th will be paid a $0.8875 dividend. The ex-dividend date of this dividend is Monday, June 9th. This is an increase from Canadian National Railway's previous dividend of $0.29. This represents a dividend yield of 2.47%. Canadian National Railway's payout ratio is 50.49%.

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.