Sky Investment Group LLC Reduces Position in Canadian National Railway Company (CNI)

Sky Investment Group LLC reduced its position 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 Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in CNI. Wellington Management Group LLP increased its position in shares of Canadian National Railway by 7.9% in the first quarter. Wellington Management Group LLP now owns 30,335,430 shares of the transportation company’s stock worth $2,236,347,000 after buying an additional 2,227,390 shares during the period. FMR LLC increased its position in Canadian National Railway by 0.8% in the first quarter. FMR LLC now owns 15,656,372 shares of the transportation company’s stock valued at $1,155,641,000 after buying an additional 121,762 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Canadian National Railway by 3.5% in the first quarter. Vanguard Group Inc. now owns 14,542,225 shares of the transportation company’s stock valued at $1,075,107,000 after buying an additional 493,026 shares in the last quarter. Beutel Goodman & Co Ltd. increased its position in shares of Canadian National Railway by 4.2% in the first quarter. Beutel Goodman & Co Ltd. now owns 6,166,745 shares of the transportation company’s stock valued at $454,413,000 after buying an additional 247,575 shares in the last quarter. Finally, Harding Loevner LP increased its position in shares of Canadian National Railway by 2.1% in the first quarter. Harding Loevner LP now owns 5,736,670 shares of the transportation company’s stock valued at $424,112,000 after buying an additional 119,655 shares in the last quarter. 55.30% of the stock is owned by institutional investors and hedge funds.

Shares of Canadian National Railway Company (CNI) opened at 79.50 on Friday. The stock has a 50 day moving average price of $81.16 and a 200-day moving average price of $75.59. Canadian National Railway Company has a 52-week low of $61.11 and a 52-week high of $84.48. The firm has a market cap of $59.70 billion, a PE ratio of 19.62 and a beta of 1.11.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be paid a dividend of $0.3276 per share. The ex-dividend date is Thursday, September 7th. This represents a $1.31 dividend on an annualized basis and a dividend yield of 1.65%. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.31. Canadian National Railway’s payout ratio is presently 31.77%.

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CNI has been the topic of a number of research reports. Stifel Nicolaus raised their price objective on Canadian National Railway from $73.00 to $74.00 and gave the company a “hold” rating in a report on Tuesday, April 25th. Barclays PLC reiterated an “equal weight” rating and issued a $81.00 price objective (up from $69.00) on shares of Canadian National Railway in a research report on Wednesday, May 17th. Zacks Investment Research upgraded Canadian National Railway from a “hold” rating to a “buy” rating and set a $93.00 price objective on the stock in a research report on Tuesday, July 11th. BidaskClub upgraded Canadian National Railway from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 13th. Finally, Credit Suisse Group restated a “neutral” rating on shares of Canadian National Railway in a research report on Friday, July 28th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and seven have given a buy rating to the company’s stock. The company presently 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.

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

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