Hemenway Trust Co LLC Sells 9,143 Shares of Canadian National Railway (NYSE:CNI)

Hemenway Trust Co LLC trimmed its position in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 3.1% in the 1st quarter, HoldingsChannel.com reports. The fund owned 284,341 shares of the transportation company’s stock after selling 9,143 shares during the quarter. Canadian National Railway comprises about 3.2% of Hemenway Trust Co LLC’s investment portfolio, making the stock its 14th largest position. Hemenway Trust Co LLC’s holdings in Canadian National Railway were worth $37,451,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Bfsg LLC boosted its position in Canadian National Railway by 110.5% during the 1st quarter. Bfsg LLC now owns 200 shares of the transportation company’s stock valued at $26,000 after acquiring an additional 105 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Canadian National Railway by 766.7% in the first quarter. GAMMA Investing LLC now owns 234 shares of the transportation company’s stock worth $31,000 after acquiring an additional 207 shares during the last quarter. Keener Financial Planning LLC bought a new position in shares of Canadian National Railway during the fourth quarter valued at $46,000. Rational Advisors LLC purchased a new position in shares of Canadian National Railway in the 1st quarter worth about $49,000. Finally, Knuff & Co LLC bought a new position in Canadian National Railway in the 4th quarter worth about $50,000. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CNI has been the subject of a number of analyst reports. National Bank Financial upgraded shares of Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research note on Thursday, June 27th. Bank of America upgraded Canadian National Railway from a “neutral” rating to a “buy” rating and increased their target price for the company from $140.00 to $145.00 in a research note on Wednesday, April 10th. Barclays boosted their price target on Canadian National Railway from $127.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 4th. StockNews.com cut Canadian National Railway from a “buy” rating to a “hold” rating in a research report on Wednesday, May 22nd. Finally, Stephens reiterated an “equal weight” rating and issued a $140.00 price objective on shares of Canadian National Railway in a report on Wednesday, April 24th. Nineteen research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $148.03.

Canadian National Railway Stock Performance

Shares of CNI stock traded up $0.85 during mid-day trading on Thursday, reaching $119.41. 1,072,123 shares of the company’s stock traded hands, compared to its average volume of 1,068,832. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.46 and a current ratio of 0.60. The firm has a market capitalization of $75.77 billion, a PE ratio of 19.04, a price-to-earnings-growth ratio of 2.05 and a beta of 0.89. Canadian National Railway has a 12 month low of $103.96 and a 12 month high of $134.02. The firm has a 50 day moving average price of $122.70 and a two-hundred day moving average price of $125.92.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings results on Tuesday, April 23rd. The transportation company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.01. The business had revenue of $3.15 billion during the quarter, compared to analyst estimates of $3.16 billion. Canadian National Railway had a return on equity of 23.27% and a net margin of 32.81%. On average, research analysts forecast that Canadian National Railway will post 5.89 EPS for the current year.

Canadian National Railway Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 7th were issued a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 2.09%. The ex-dividend date was Friday, June 7th. Canadian National Railway’s dividend payout ratio is 39.08%.

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.