Harrington Investments INC Grows Holdings in Canadian National Railway (NYSE:CNI)

Harrington Investments INC grew its position in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 2.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,929 shares of the transportation company’s stock after purchasing an additional 403 shares during the period. Harrington Investments INC’s holdings in Canadian National Railway were worth $1,942,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Shell Asset Management Co. lifted its stake in shares of Canadian National Railway by 0.5% during the fourth quarter. Shell Asset Management Co. now owns 21,387 shares of the transportation company’s stock valued at $2,171,000 after buying an additional 100 shares during the period. Voya Investment Management LLC lifted its stake in shares of Canadian National Railway by 1.4% during the 4th quarter. Voya Investment Management LLC now owns 7,953 shares of the transportation company’s stock worth $807,000 after purchasing an additional 112 shares during the period. Gradient Investments LLC boosted its holdings in shares of Canadian National Railway by 2.1% during the first quarter. Gradient Investments LLC now owns 5,409 shares of the transportation company’s stock worth $527,000 after purchasing an additional 112 shares during the last quarter. Crestwood Advisors Group LLC boosted its holdings in shares of Canadian National Railway by 4.2% during the fourth quarter. Crestwood Advisors Group LLC now owns 2,814 shares of the transportation company’s stock worth $286,000 after purchasing an additional 114 shares during the last quarter. Finally, Lowe Brockenbrough & Co. Inc. grew its position in shares of Canadian National Railway by 1.2% in the fourth quarter. Lowe Brockenbrough & Co. Inc. now owns 11,492 shares of the transportation company’s stock valued at $1,167,000 after purchasing an additional 139 shares during the period. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Canadian National Railway Stock Down 0.6%

Shares of NYSE CNI opened at $104.92 on Friday. The stock has a fifty day moving average price of $101.11 and a 200 day moving average price of $102.12. The company has a current ratio of 0.66, a quick ratio of 0.48 and a debt-to-equity ratio of 0.94. Canadian National Railway has a 12-month low of $91.65 and a 12-month high of $126.41. The company has a market cap of $65.94 billion, a P/E ratio of 20.49, a P/E/G ratio of 1.95 and a beta of 0.98.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its earnings results on Thursday, May 1st. The transportation company reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.03. The company had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $4.38 billion. Canadian National Railway had a return on equity of 22.48% and a net margin of 26.09%. The company’s revenue was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.72 earnings per share. Research analysts anticipate that Canadian National Railway will post 5.52 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The company also recently disclosed a dividend, which will be paid on Monday, June 30th. Shareholders of record on Tuesday, June 10th will be given a $0.8875 dividend. This is an increase from Canadian National Railway’s previous dividend of $0.29. The ex-dividend date of this dividend is Monday, June 9th. This represents a yield of 2.47%. Canadian National Railway’s dividend payout ratio (DPR) is 50.29%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Susquehanna upgraded Canadian National Railway from a “neutral” rating to a “positive” rating and set a $120.00 target price on the stock in a research report on Tuesday, May 6th. Evercore ISI dropped their price objective on shares of Canadian National Railway from $119.00 to $114.00 and set an “outperform” rating for the company in a research note on Friday, May 2nd. Bank of America raised their target price on shares of Canadian National Railway from $105.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, May 16th. Stifel Nicolaus dropped their price target on shares of Canadian National Railway from $125.00 to $115.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Finally, Wall Street Zen raised shares of Canadian National Railway from a “sell” rating to a “hold” rating in a research note on Friday, May 30th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $119.52.

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.