Safe Harbor Fiduciary LLC Buys New Stake in Canadian National Railway (NYSE:CNI)

Safe Harbor Fiduciary LLC bought a new stake in Canadian National Railway (NYSE:CNI) (TSE:CNR) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,613 shares of the transportation company’s stock, valued at approximately $423,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. 1832 Asset Management L.P. increased its stake in Canadian National Railway by 7.8% in the second quarter. 1832 Asset Management L.P. now owns 9,365,622 shares of the transportation company’s stock valued at $1,106,361,000 after acquiring an additional 674,536 shares during the period. JARISLOWSKY FRASER Ltd boosted its position in Canadian National Railway by 1.2% in the second quarter. JARISLOWSKY FRASER Ltd now owns 8,610,928 shares of the transportation company’s stock valued at $1,017,315,000 after buying an additional 99,716 shares in the last quarter. Fiera Capital Corp boosted its position in Canadian National Railway by 0.7% in the third quarter. Fiera Capital Corp now owns 5,482,524 shares of the transportation company’s stock valued at $642,828,000 after buying an additional 39,063 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in Canadian National Railway by 2.6% in the second quarter. The Manufacturers Life Insurance Company now owns 4,836,345 shares of the transportation company’s stock valued at $570,667,000 after buying an additional 120,453 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in Canadian National Railway by 5.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,962,972 shares of the transportation company’s stock valued at $464,002,000 after buying an additional 202,303 shares in the last quarter. Institutional investors own 80.74% of the company’s stock.

Canadian National Railway Stock Up 0.5 %

Shares of NYSE:CNI opened at $109.66 on Thursday. Canadian National Railway has a 52 week low of $105.28 and a 52 week high of $134.02. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.49 and a current ratio of 0.64. The company has a market capitalization of $69.06 billion, a PE ratio of 17.57, a PEG ratio of 2.55 and a beta of 0.89. The company has a 50 day moving average price of $111.98 and a two-hundred day moving average price of $116.28.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its earnings results on Tuesday, October 22nd. The transportation company reported $1.72 EPS for the quarter, beating the consensus estimate of $1.70 by $0.02. Canadian National Railway had a net margin of 31.65% and a return on equity of 23.62%. The firm had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.08 billion. During the same quarter in the prior year, the firm earned $1.26 earnings per share. The business’s quarterly revenue was up 3.1% on a year-over-year basis. Analysts forecast that Canadian National Railway will post 5.33 earnings per share for the current year.

Canadian National Railway Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be given a dividend of $0.6108 per share. This represents a $2.44 annualized dividend and a dividend yield of 2.23%. The ex-dividend date is Monday, December 9th. Canadian National Railway’s dividend payout ratio is 39.26%.

Analyst Upgrades and Downgrades

CNI has been the topic of a number of recent analyst reports. Wells Fargo & Company upgraded shares of Canadian National Railway from an “equal weight” rating to an “overweight” rating and set a $125.00 price target on the stock in a research report on Monday, October 7th. Stifel Nicolaus boosted their price target on shares of Canadian National Railway from $130.00 to $132.00 and gave the company a “hold” rating in a research report on Wednesday, October 23rd. Stephens restated an “equal weight” rating and issued a $116.00 price target on shares of Canadian National Railway in a research report on Wednesday, October 23rd. Citigroup upgraded shares of Canadian National Railway from a “neutral” rating to a “buy” rating and upped their target price for the stock from $126.00 to $130.00 in a research report on Tuesday, November 12th. Finally, Royal Bank of Canada upgraded shares of Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, four have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $125.86.

Canadian National Railway Company 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.