Canadian National Railway Company (NYSE:CNI) Shares Sold by Hemenway Trust Co LLC

Hemenway Trust Co LLC decreased its position in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 7.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 240,729 shares of the transportation company’s stock after selling 19,120 shares during the quarter. Canadian National Railway accounts for about 1.9% of Hemenway Trust Co LLC’s investment portfolio, making the stock its 25th largest holding. Hemenway Trust Co LLC’s holdings in Canadian National Railway were worth $23,461,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Shell Asset Management Co. lifted its stake in Canadian National Railway by 0.5% in 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 last quarter. Bruce G. Allen Investments LLC increased its holdings in shares of Canadian National Railway by 44.2% in the 1st quarter. Bruce G. Allen Investments LLC now owns 346 shares of the transportation company’s stock worth $34,000 after acquiring an additional 106 shares during the period. Voya Investment Management LLC lifted its position in Canadian National Railway by 1.4% in the 4th quarter. Voya Investment Management LLC now owns 7,953 shares of the transportation company’s stock valued at $807,000 after purchasing an additional 112 shares during the last quarter. Gradient Investments LLC lifted its position in Canadian National Railway by 2.1% in the 1st quarter. Gradient Investments LLC now owns 5,409 shares of the transportation company’s stock valued at $527,000 after purchasing an additional 112 shares during the last quarter. Finally, Crestwood Advisors Group LLC boosted its stake in Canadian National Railway by 4.2% during the 4th quarter. Crestwood Advisors Group LLC now owns 2,814 shares of the transportation company’s stock valued at $286,000 after purchasing an additional 114 shares during the period. Institutional investors and hedge funds own 80.74% of the company’s stock.

Canadian National Railway Stock Performance

NYSE:CNI opened at $102.03 on Wednesday. The company has a 50-day moving average of $102.24 and a 200-day moving average of $101.77. The firm has a market cap of $64.06 billion, a price-to-earnings ratio of 19.89, a price-to-earnings-growth ratio of 1.95 and a beta of 0.98. The company has a current ratio of 0.62, a quick ratio of 0.43 and a debt-to-equity ratio of 0.88. Canadian National Railway Company has a twelve month low of $91.65 and a twelve month high of $123.96.

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 analysts’ consensus estimates of $1.26 by $0.03. The firm had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $4.38 billion. Canadian National Railway had a net margin of 26.19% and a return on equity of 22.29%. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period last year, the firm posted $1.72 earnings per share. Analysts forecast that Canadian National Railway Company will post 5.52 earnings per share for the current fiscal year.

Canadian National Railway Increases Dividend

The business also recently announced a dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 10th will be issued a $0.8875 dividend. This represents a dividend yield of 2.47%. This is a boost from Canadian National Railway’s previous dividend of $0.29. The ex-dividend date is Monday, June 9th. Canadian National Railway’s payout ratio is presently 50.49%.

Wall Street Analyst Weigh In

Several brokerages have commented on CNI. Jefferies Financial Group dropped their price target on shares of Canadian National Railway from $120.00 to $110.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th. Stifel Nicolaus lowered their target price on Canadian National Railway from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Royal Bank Of Canada reiterated an “outperform” rating and set a $163.00 price target on shares of Canadian National Railway in a research report on Thursday, June 5th. Bank of America increased their price target on Canadian National Railway from $105.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, May 16th. Finally, Susquehanna upgraded shares of Canadian National Railway from a “neutral” rating to a “positive” rating and set a $120.00 price objective on the stock in a research note on Tuesday, May 6th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $120.36.

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.