Harvest Portfolios Group Inc. Has $214,000 Stake in Canadian National Railway (NYSE:CNI)

Harvest Portfolios Group Inc. trimmed its stake in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 9.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,825 shares of the transportation company’s stock after selling 200 shares during the period. Harvest Portfolios Group Inc.’s holdings in Canadian National Railway were worth $214,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CNI. Canada Pension Plan Investment Board lifted its position in shares of Canadian National Railway by 92.4% during the first quarter. Canada Pension Plan Investment Board now owns 4,505,860 shares of the transportation company’s stock worth $593,911,000 after purchasing an additional 2,163,820 shares in the last quarter. Capital International Investors lifted its position in shares of Canadian National Railway by 18.1% during the first quarter. Capital International Investors now owns 9,003,537 shares of the transportation company’s stock worth $1,185,647,000 after purchasing an additional 1,379,976 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Canadian National Railway by 4,614.6% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,336,027 shares of the transportation company’s stock worth $157,896,000 after buying an additional 1,307,689 shares during the last quarter. Manning & Napier Advisors LLC bought a new stake in shares of Canadian National Railway during the second quarter worth approximately $134,096,000. Finally, 1832 Asset Management L.P. raised its stake in shares of Canadian National Railway by 7.8% during the second quarter. 1832 Asset Management L.P. now owns 9,365,622 shares of the transportation company’s stock worth $1,106,361,000 after buying an additional 674,536 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Canadian National Railway Stock Performance

Shares of CNI stock opened at $113.34 on Friday. The stock has a market cap of $71.27 billion, a P/E ratio of 18.16, a P/E/G ratio of 2.43 and a beta of 0.89. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.64 and a quick ratio of 0.49. The company has a fifty day moving average price of $114.92 and a two-hundred day moving average price of $118.40. Canadian National Railway has a one year low of $107.54 and a one year high of $134.02.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings results on Tuesday, October 22nd. The transportation company reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.02. The firm had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.08 billion. Canadian National Railway had a net margin of 31.65% and a return on equity of 23.62%. The company’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.26 earnings per share. As a group, equities analysts predict that Canadian National Railway will post 5.52 EPS for the current year.

Canadian National Railway Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be paid a $0.6108 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date is Monday, December 9th. Canadian National Railway’s dividend payout ratio is currently 39.90%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CNI shares. Sanford C. Bernstein dropped their price target on shares of Canadian National Railway from $130.67 to $126.29 and set a “market perform” rating for the company in a research note on Wednesday, October 9th. Evercore ISI dropped their price target on shares of Canadian National Railway from $119.00 to $116.00 and set an “in-line” rating for the company in a research note on Wednesday, October 23rd. Benchmark reissued a “hold” rating on shares of Canadian National Railway in a research note on Thursday, October 24th. Veritas raised shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 23rd. Finally, Citigroup upped their target price on shares of Canadian National Railway from $125.00 to $126.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, three have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $125.18.

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.