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

Harvest Portfolios Group Inc. lessened its stake in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 9.9% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,825 shares of the transportation company’s stock after selling 200 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in Canadian National Railway were worth $214,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of CNI. Canada Pension Plan Investment Board increased its position in 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 acquiring an additional 2,163,820 shares during the period. Capital International Investors increased its position in 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 acquiring an additional 1,379,976 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in 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 acquiring an additional 1,307,689 shares during the period. Manning & Napier Advisors LLC bought a new position in Canadian National Railway during the second quarter worth about $134,096,000. Finally, 1832 Asset Management L.P. increased its position in 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 acquiring an additional 674,536 shares during the period. Institutional investors and hedge funds own 80.74% of the company’s stock.

Canadian National Railway Trading Up 0.9 %

CNI opened at $113.34 on Friday. The company’s 50 day moving average is $114.92 and its 200-day moving average is $118.40. Canadian National Railway has a 1-year low of $107.54 and a 1-year high of $134.02. The company has a current ratio of 0.64, a quick ratio of 0.49 and a debt-to-equity ratio of 0.96. The company has a market cap of $71.27 billion, a P/E ratio of 18.16, a PEG ratio of 2.43 and a beta of 0.89.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings results on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.08 billion. During the same period last year, the company posted $1.26 EPS. The firm’s quarterly revenue was up 3.1% compared to the same quarter last year. Equities research analysts predict that Canadian National Railway will post 5.52 earnings per share for the current fiscal year.

Canadian National Railway Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be given a dividend of $0.6108 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $2.44 annualized dividend and a yield of 2.16%. Canadian National Railway’s dividend payout ratio is presently 39.90%.

Analyst Ratings Changes

CNI has been the topic of a number of recent research reports. Evercore ISI lowered their price target on shares of Canadian National Railway from $119.00 to $116.00 and set an “in-line” rating on the stock in a research report on Wednesday, October 23rd. Wells Fargo & Company raised 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. Royal Bank of Canada raised shares of Canadian National Railway from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. Bank of America lowered shares of Canadian National Railway from a “buy” rating to a “neutral” rating and decreased their target price for the company from $129.00 to $122.00 in a report on Friday, October 4th. Finally, Stephens reissued an “equal weight” rating and issued a $116.00 target price on shares of Canadian National Railway in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, three have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Canadian National Railway presently has a consensus rating of “Hold” and an average price target of $125.18.

Canadian National Railway 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.