Sky Investment Group LLC Has $219,000 Position in Canadian National Railway Company (CNI)

Sky Investment Group LLC decreased its stake in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 6.9% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 2,700 shares of the transportation company’s stock after selling 200 shares during the period. Sky Investment Group LLC’s holdings in Canadian National Railway were worth $219,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its stake in shares of Canadian National Railway by 5.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 231,908 shares of the transportation company’s stock valued at $15,631,000 after buying an additional 11,991 shares during the last quarter. Guggenheim Capital LLC boosted its stake in shares of Canadian National Railway by 114.6% in the fourth quarter. Guggenheim Capital LLC now owns 12,809 shares of the transportation company’s stock valued at $863,000 after buying an additional 6,839 shares during the last quarter. Brookfield Asset Management Inc. acquired a new stake in shares of Canadian National Railway during the fourth quarter valued at approximately $17,710,000. First Financial Bank N.A. Trust Division boosted its stake in shares of Canadian National Railway by 3.9% in the first quarter. First Financial Bank N.A. Trust Division now owns 51,235 shares of the transportation company’s stock valued at $3,788,000 after buying an additional 1,918 shares during the last quarter. Finally, Cardinal Capital Management Inc. boosted its stake in shares of Canadian National Railway by 1.0% in the first quarter. Cardinal Capital Management Inc. now owns 561,925 shares of the transportation company’s stock valued at $41,405,000 after buying an additional 5,450 shares during the last quarter. Institutional investors and hedge funds own 55.32% of the company’s stock.

Shares of Canadian National Railway Company (CNI) traded down 0.38% during midday trading on Monday, reaching $83.36. 781,179 shares of the company traded hands. The stock’s 50-day moving average is $78.14 and its 200-day moving average is $72.97. The stock has a market capitalization of $63.03 billion, a P/E ratio of 22.43 and a beta of 1.12. Canadian National Railway Company has a 1-year low of $61.11 and a 1-year high of $84.48.

The firm also recently announced a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Friday, June 9th were issued a $0.3059 dividend. This represents a $1.22 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend was Wednesday, June 7th. Canadian National Railway’s dividend payout ratio (DPR) is currently 33.15%.

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CNI has been the subject of several research reports. Loop Capital restated a “hold” rating on shares of Canadian National Railway in a research note on Saturday, March 25th. Cowen and Company lifted their price objective on shares of Canadian National Railway from $77.00 to $81.00 and gave the company an “outperform” rating in a research note on Tuesday, April 25th. Stifel Nicolaus lifted their price objective on shares of Canadian National Railway from $73.00 to $74.00 and gave the company a “hold” rating in a research note on Tuesday, April 25th. Barclays PLC decreased their price objective on shares of Canadian National Railway from $71.00 to $69.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 25th. Finally, Credit Suisse Group restated a “neutral” rating and set a $78.00 price objective (up from $77.00) on shares of Canadian National Railway in a research note on Sunday, May 28th. Fourteen research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $80.56.

Canadian National Railway Company Profile

Canadian National Railway Company is engaged in the rail and related transportation business. The Company’s network of approximately 20,000 route miles of track spans Canada and mid-America, connecting approximately three coasts, including the Atlantic, the Pacific and the Gulf of Mexico and serving the cities and ports of Vancouver, Prince Rupert (British Columbia), Montreal, Halifax, New Orleans, and Mobile (Alabama), and the metropolitan areas of Toronto, Edmonton, Winnipeg, Calgary, Chicago, Memphis, Detroit, Duluth (Minnesota)/Superior (Wisconsin), and Jackson (Mississippi), with connections to all points in North America.

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Institutional Ownership by Quarter for Canadian National Railway (NYSE:CNI)

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