Harbour Investments Inc. Boosts Holdings in Canadian National Railway (NYSE:CNI)

Harbour Investments Inc. raised its holdings in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 5.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,302 shares of the transportation company’s stock after purchasing an additional 156 shares during the quarter. Harbour Investments Inc.’s holdings in Canadian National Railway were worth $335,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in CNI. Centurion Wealth Management LLC boosted its stake in shares of Canadian National Railway by 23.0% during the 4th quarter. Centurion Wealth Management LLC now owns 2,415 shares of the transportation company’s stock worth $245,000 after acquiring an additional 452 shares in the last quarter. Frank Rimerman Advisors LLC purchased a new stake in shares of Canadian National Railway during the 4th quarter worth about $205,000. Intact Investment Management Inc. boosted its stake in shares of Canadian National Railway by 6.9% during the 4th quarter. Intact Investment Management Inc. now owns 415,449 shares of the transportation company’s stock worth $42,182,000 after acquiring an additional 26,680 shares in the last quarter. Aviso Financial Inc. boosted its stake in shares of Canadian National Railway by 7.5% during the 4th quarter. Aviso Financial Inc. now owns 157,121 shares of the transportation company’s stock worth $15,951,000 after acquiring an additional 10,970 shares in the last quarter. Finally, Forge First Asset Management Inc. purchased a new position in Canadian National Railway in the 4th quarter valued at about $17,927,000. 80.74% of the stock is owned by hedge funds and other institutional investors.

Canadian National Railway Stock Down 1.1 %

Canadian National Railway stock opened at $96.71 on Friday. Canadian National Railway has a fifty-two week low of $93.64 and a fifty-two week high of $133.11. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.48 and a current ratio of 0.66. The firm has a 50 day moving average price of $101.27 and a 200 day moving average price of $107.28. The company has a market capitalization of $60.77 billion, a PE ratio of 18.89, a price-to-earnings-growth ratio of 1.95 and a beta of 0.91.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its earnings results on Thursday, January 30th. The transportation company reported $1.30 earnings per share for the quarter, missing the consensus estimate of $1.39 by ($0.09). Canadian National Railway had a net margin of 26.09% and a return on equity of 22.48%. Research analysts expect that Canadian National Railway will post 5.52 earnings per share for the current year.

Canadian National Railway Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be given a $0.6159 dividend. This represents a $2.46 annualized dividend and a yield of 2.55%. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.61. Canadian National Railway’s dividend payout ratio (DPR) is currently 47.66%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Wells Fargo & Company decreased their price target on shares of Canadian National Railway from $125.00 to $123.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Susquehanna cut their price objective on shares of Canadian National Railway from $125.00 to $115.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Royal Bank of Canada cut their price objective on shares of Canadian National Railway from $174.00 to $171.00 and set an “outperform” rating for the company in a report on Friday, January 31st. Jefferies Financial Group upgraded shares of Canadian National Railway from a “hold” rating to a “buy” rating and set a $120.00 price objective for the company in a report on Friday, January 10th. Finally, Barclays cut their price objective on shares of Canadian National Railway from $121.00 to $112.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $124.19.

About Canadian National Railway

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.