Harvest Portfolios Group Inc. Purchases New Holdings in Canadian National Railway Company $CNI

Harvest Portfolios Group Inc. acquired a new position in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 8,891 shares of the transportation company’s stock, valued at approximately $926,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Founders Capital Management LLC acquired a new stake in shares of Canadian National Railway during the second quarter worth $3,335,000. Goldman Sachs Group Inc. increased its stake in Canadian National Railway by 39.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,664,618 shares of the transportation company’s stock valued at $259,694,000 after buying an additional 755,518 shares during the period. TD Asset Management Inc raised its position in Canadian National Railway by 2.3% during the 2nd quarter. TD Asset Management Inc now owns 12,072,540 shares of the transportation company’s stock worth $1,255,385,000 after buying an additional 273,974 shares during the last quarter. Cardinal Capital Management Inc. lifted its stake in shares of Canadian National Railway by 3.1% in the 2nd quarter. Cardinal Capital Management Inc. now owns 731,350 shares of the transportation company’s stock worth $76,178,000 after acquiring an additional 22,035 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in shares of Canadian National Railway by 3.7% in the first quarter. Principal Financial Group Inc. now owns 94,400 shares of the transportation company’s stock valued at $9,185,000 after acquiring an additional 3,400 shares in the last quarter. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CNI. Citigroup increased their price target on shares of Canadian National Railway from $119.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, November 3rd. Susquehanna increased their target price on Canadian National Railway from $115.00 to $116.00 and gave the stock a “positive” rating in a research note on Monday, November 3rd. Wall Street Zen raised Canadian National Railway from a “sell” rating to a “hold” rating in a report on Saturday, October 18th. Barclays dropped their price objective on Canadian National Railway from $99.00 to $97.00 and set an “equal weight” rating on the stock in a report on Thursday, October 2nd. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Canadian National Railway in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Canadian National Railway presently has a consensus rating of “Hold” and a consensus target price of $114.00.

Canadian National Railway Stock Performance

CNI opened at $95.00 on Friday. Canadian National Railway Company has a 1-year low of $91.07 and a 1-year high of $113.08. The stock has a market cap of $58.78 billion, a P/E ratio of 18.27, a P/E/G ratio of 2.13 and a beta of 0.95. The stock’s 50 day simple moving average is $94.92 and its 200 day simple moving average is $98.60. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.82 and a quick ratio of 0.58.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings data on Friday, October 31st. The transportation company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.05. The firm had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $4.15 billion. Canadian National Railway had a return on equity of 21.71% and a net margin of 26.63%.Canadian National Railway’s revenue was up 1.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.72 earnings per share. As a group, equities analysts anticipate that Canadian National Railway Company will post 5.52 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 9th will be paid a dividend of $0.8875 per share. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Tuesday, December 9th. This represents a $3.55 annualized dividend and a dividend yield of 3.7%. Canadian National Railway’s dividend payout ratio is presently 48.01%.

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.