Harrison Street Private Wealth LLC Makes New Investment in Canadian National Railway Company $CNI

Key Points

• Harrison Street Private Wealth LLC initiated a new position in Canadian National Railway, buying 34,340 shares valued at about $3.52 million. The stake makes up 4.7% of its portfolio and is its 12th-largest holding.
• Institutional ownership remains strong, with several other investors recently adding to or establishing positions in CNI; overall, institutional holders control about 80.74% of the stock.
• Canadian National Railway reported Q1 earnings and revenue in line with expectations, and its shares were trading up about 1.4% at $121.51. The company also pays a 3.0% dividend yield, and analysts currently rate the stock a Moderate Buy with a consensus target price of $126.12.

Harrison Street Private Wealth LLC purchased a new stake in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 34,340 shares of the transportation company's stock, valued at approximately $3,523,000. Canadian National Railway accounts for 4.7% of Harrison Street Private Wealth LLC's investment portfolio, making the stock its 12th biggest position.

A number of other institutional investors also recently modified their holdings of CNI. Lincluden Management Ltd. grew its stake in shares of Canadian National Railway by 4.1% during the 3rd quarter. Lincluden Management Ltd. now owns 434,344 shares of the transportation company's stock worth $40,717,000 after acquiring an additional 17,257 shares in the last quarter. Kensington Investment Counsel LLC acquired a new position in Canadian National Railway during the third quarter worth $3,079,000. Scharf Investments LLC bought a new position in Canadian National Railway in the fourth quarter valued at $8,283,000. CIBC Bancorp USA Inc. acquired a new stake in Canadian National Railway in the 3rd quarter valued at $32,174,000. Finally, Fisher Asset Management LLC boosted its stake in shares of Canadian National Railway by 10.5% during the 4th quarter. Fisher Asset Management LLC now owns 2,279,778 shares of the transportation company's stock worth $225,356,000 after buying an additional 216,963 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors.

Canadian National Railway Trading Up 1.4%

Shares of CNI stock opened at $121.51 on Friday. The firm has a 50 day moving average price of $115.76 and a two-hundred day moving average price of $107.68. The company has a quick ratio of 0.49, a current ratio of 0.67 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $73.72 billion, a PE ratio of 22.09, a price-to-earnings-growth ratio of 2.25 and a beta of 0.96. Canadian National Railway Company has a 12-month low of $90.74 and a 12-month high of $122.48.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last posted its earnings results on Wednesday, April 29th. The transportation company reported $1.31 EPS for the quarter, meeting the consensus estimate of $1.31. Canadian National Railway had a return on equity of 21.90% and a net margin of 27.22%.The company had revenue of $3.15 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter in the prior year, the business earned $1.85 earnings per share. The firm's revenue for the quarter was down .5% on a year-over-year basis. As a group, analysts predict that Canadian National Railway Company will post 5.75 earnings per share for the current year.

Canadian National Railway Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th were paid a dividend of $0.915 per share. This represents a $3.66 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Tuesday, June 9th. Canadian National Railway's dividend payout ratio is presently 48.55%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CNI. Sanford C. Bernstein lifted their target price on Canadian National Railway from $113.88 to $117.36 and gave the company a "market perform" rating in a research report on Tuesday, March 31st. Citigroup increased their price target on Canadian National Railway from $123.00 to $124.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. Barclays raised their price target on Canadian National Railway from $99.00 to $109.00 and gave the company an "equal weight" rating in a research note on Thursday, June 25th. Canadian Imperial Bank of Commerce boosted their price target on Canadian National Railway from C$182.00 to C$185.00 and gave the stock an "outperformer" rating in a research report on Thursday, June 25th. Finally, National Bank Financial set a $124.00 target price on shares of Canadian National Railway in a report on Thursday, June 25th. Ten equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $126.12.

Canadian National Railway Profile

Canadian National Railway Company NYSE: CNI is a Class I freight railway that operates an integrated rail network across Canada and the United States. Headquartered in Montreal, Quebec, CN provides long-haul freight transportation and related logistics services that connect major ports, industrial centers and inland markets throughout North America. Its transcontinental system enables cross-border movement of goods and supports supply chains that span coast-to-coast in Canada and into the central and eastern United States.

CN's core business is the railborne transportation of a broad mix of commodities, including intermodal container traffic, forest and paper products, grain and other agricultural products, metallurgical and industrial products, petroleum and chemical products, coal and automotive shipments.

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