K.J. Harrison & Partners Inc Buys 18,933 Shares of Canadian National Railway Company $CNI

K.J. Harrison & Partners Inc increased its stake in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 220.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 27,516 shares of the transportation company’s stock after purchasing an additional 18,933 shares during the quarter. K.J. Harrison & Partners Inc’s holdings in Canadian National Railway were worth $2,598,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of CNI. Addison Advisors LLC raised its stake in shares of Canadian National Railway by 124.0% in the second quarter. Addison Advisors LLC now owns 271 shares of the transportation company’s stock valued at $28,000 after acquiring an additional 150 shares during the period. Hollencrest Capital Management purchased a new stake in Canadian National Railway in the 3rd quarter worth about $28,000. First Horizon Corp bought a new stake in Canadian National Railway in the third quarter worth about $30,000. Costello Asset Management INC boosted its position in shares of Canadian National Railway by 83.3% during the third quarter. Costello Asset Management INC now owns 330 shares of the transportation company’s stock valued at $31,000 after buying an additional 150 shares during the period. Finally, Steigerwald Gordon & Koch Inc. bought a new position in shares of Canadian National Railway during the third quarter valued at approximately $50,000. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Canadian National Railway Trading Down 2.0%

NYSE CNI opened at $109.05 on Thursday. Canadian National Railway Company has a one year low of $90.74 and a one year high of $111.47. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.47 and a current ratio of 0.67. The company has a market capitalization of $66.86 billion, a price-to-earnings ratio of 20.08, a price-to-earnings-growth ratio of 2.34 and a beta of 0.94. The company’s 50-day simple moving average is $101.31 and its two-hundred day simple moving average is $97.33.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings data on Friday, January 30th. The transportation company reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.06. The company had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $4.43 billion. Canadian National Railway had a net margin of 27.28% and a return on equity of 22.14%. Canadian National Railway’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.82 earnings per share. Equities analysts forecast that Canadian National Railway Company will post 5.52 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 10th will be issued a $0.915 dividend. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.89. This represents a $3.66 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Tuesday, March 10th. Canadian National Railway’s dividend payout ratio is presently 46.59%.

Analyst Ratings Changes

CNI has been the subject of a number of recent analyst reports. Susquehanna boosted their price objective on Canadian National Railway from $115.00 to $116.00 and gave the company a “positive” rating in a report on Monday, November 3rd. Citigroup lowered their target price on shares of Canadian National Railway from $119.00 to $115.00 and set a “buy” rating for the company in a research note on Monday, February 2nd. Canadian Imperial Bank of Commerce upgraded shares of Canadian National Railway from a “hold” rating to an “outperformer” rating and upped their price target for the stock from $146.00 to $151.00 in a report on Friday, November 28th. Zacks Research upgraded shares of Canadian National Railway from a “strong sell” rating to a “hold” rating in a report on Friday, November 28th. Finally, Vertical Research raised shares of Canadian National Railway from a “hold” rating to a “buy” rating in a research report on Monday, January 5th. Ten equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $118.91.

Canadian National Railway Profile

Canadian National Railway Company (NYSE: CNI) is a Class I freight railway that operates an integrated rail network across Canada and the United States. Headquartered in Montreal, Quebec, CN provides long-haul freight transportation and related logistics services that connect major ports, industrial centers and inland markets throughout North America. Its transcontinental system enables cross-border movement of goods and supports supply chains that span coast-to-coast in Canada and into the central and eastern United States.

CN’s core business is the railborne transportation of a broad mix of commodities, including intermodal container traffic, forest and paper products, grain and other agricultural products, metallurgical and industrial products, petroleum and chemical products, coal and automotive shipments.