CN sets a new grain volume record

Article Excerpt

CANADIAN NATIONAL RAILWAY CO. $146 is a buy. The company (Toronto symbol CNR; Conservative Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 709.8 million; Market cap: $103.6 billion; Price-to-sales ratio: 7.3; Dividend yield: 1.6%; TSINetwork Rating: Above Average; www.cn.ca) operates Canada’s largest railway, stretching across the country, and passing through the U.S. Midwest to the Gulf of Mexico. The railway shipped 2.81 million tonnes of Canadian grain and related products in the month of September 2020. That beat its previous September record of 2.6 million tonnes in 2016. CN expects grain volumes will continue to improve. As well, its recent purchase of 1,500 high-capacity grain cars will help it handle the higher volumes and improve its efficiency. CN Rail is a buy. buy…