Harbour Trust & Investment Management Co Invests $12.40 Million in Canadian National Railway (NYSE:CNI)

Harbour Trust & Investment Management Co acquired a new stake in shares of Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 98,704 shares of the transportation company's stock, valued at approximately $12,400,000. Canadian National Railway accounts for approximately 1.7% of Harbour Trust & Investment Management Co's investment portfolio, making the stock its 15th largest holding.

Several other institutional investors have also recently made changes to their positions in the stock. Ascent Group LLC lifted its position in shares of Canadian National Railway by 2.2% during the third quarter. Ascent Group LLC now owns 4,005 shares of the transportation company's stock worth $474,000 after acquiring an additional 87 shares in the last quarter. Baird Financial Group Inc. lifted its position in shares of Canadian National Railway by 0.3% during the third quarter. Baird Financial Group Inc. now owns 28,401 shares of the transportation company's stock worth $3,067,000 after acquiring an additional 88 shares in the last quarter. SRS Capital Advisors Inc. lifted its position in shares of Canadian National Railway by 2.9% during the second quarter. SRS Capital Advisors Inc. now owns 3,123 shares of the transportation company's stock worth $378,000 after acquiring an additional 89 shares in the last quarter. State of Wyoming raised its position in shares of Canadian National Railway by 11.7% in the fourth quarter. State of Wyoming now owns 867 shares of the transportation company's stock worth $103,000 after buying an additional 91 shares in the last quarter. Finally, Tacita Capital Inc raised its position in shares of Canadian National Railway by 0.4% in the third quarter. Tacita Capital Inc now owns 27,356 shares of the transportation company's stock worth $2,972,000 after buying an additional 97 shares in the last quarter. Hedge funds and other institutional investors own 80.74% of the company's stock.

Canadian National Railway Trading Up 0.4 %

Shares of NYSE:CNI traded up $0.49 on Tuesday, reaching $130.99. 846,982 shares of the company traded hands, compared to its average volume of 1,004,785. The business's 50-day simple moving average is $129.53 and its 200 day simple moving average is $120.76. Canadian National Railway has a 52 week low of $103.96 and a 52 week high of $134.02. The stock has a market capitalization of $83.88 billion, a P/E ratio of 20.66, a price-to-earnings-growth ratio of 2.32 and a beta of 0.88. The company has a current ratio of 0.61, a quick ratio of 0.47 and a debt-to-equity ratio of 0.80.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last posted its earnings results on Tuesday, January 23rd. The transportation company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.02. The company had revenue of $3.28 billion for the quarter, compared to analysts' expectations of $3.25 billion. Canadian National Railway had a return on equity of 23.56% and a net margin of 33.38%. As a group, equities analysts anticipate that Canadian National Railway will post 5.96 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 7th were issued a dividend of $0.638 per share. This is an increase from Canadian National Railway's previous quarterly dividend of $0.58. The ex-dividend date was Wednesday, March 6th. This represents a $2.55 dividend on an annualized basis and a dividend yield of 1.95%. Canadian National Railway's dividend payout ratio is 39.59%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on CNI shares. Susquehanna lowered their price objective on Canadian National Railway from $143.00 to $140.00 and set a "neutral" rating on the stock in a research report on Thursday, March 28th. Citigroup increased their price objective on Canadian National Railway from $121.00 to $128.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 24th. CIBC downgraded Canadian National Railway from a "sector outperform" rating to a "neutral" rating in a research report on Wednesday, January 10th. Stephens increased their price objective on Canadian National Railway from $122.00 to $135.00 and gave the stock an "equal weight" rating in a research report on Thursday, January 4th. Finally, Jefferies Financial Group started coverage on Canadian National Railway in a research report on Monday. They issued a "hold" rating and a $130.00 price objective on the stock. Eighteen analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $146.71.

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.