Canadian National Railway Company (CNI) Shares Sold by NGAM Advisors L.P.

NGAM Advisors L.P. decreased its stake in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 0.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 196,886 shares of the transportation company’s stock after selling 83 shares during the period. NGAM Advisors L.P.’s holdings in Canadian National Railway were worth $15,958,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of 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 valued at $2,236,347,000 after buying an additional 2,227,390 shares during the period. William Blair Investment Management LLC increased its position in shares of Canadian National Railway by 54.1% in the first quarter. William Blair Investment Management LLC now owns 3,322,147 shares of the transportation company’s stock valued at $244,625,000 after buying an additional 1,165,992 shares during the period. 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 during the period. OppenheimerFunds Inc. increased its position in shares of Canadian National Railway by 15.6% in the first quarter. OppenheimerFunds Inc. now owns 3,506,422 shares of the transportation company’s stock valued at $259,230,000 after buying an additional 472,909 shares during the period. Finally, 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 during the period. 55.56% of the stock is owned by hedge funds and other institutional investors.

Canadian National Railway Company (CNI) opened at 79.50 on Friday. The company’s 50-day moving average is $80.99 and its 200-day moving average is $75.94. The company has a market cap of $59.70 billion, a P/E ratio of 19.62 and a beta of 1.11. Canadian National Railway Company has a 12 month low of $61.11 and a 12 month high of $84.48.

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

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CNI has been the subject of several recent analyst reports. BidaskClub downgraded shares of Canadian National Railway from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 22nd. Stifel Nicolaus boosted their price target on shares of Canadian National Railway from $73.00 to $74.00 and gave the company a “hold” rating in a research report on Tuesday, April 25th. Barclays PLC reiterated an “equal weight” rating and set a $81.00 price target (up previously from $69.00) on shares of Canadian National Railway in a research report on Wednesday, May 17th. Credit Suisse Group reiterated a “neutral” rating and set a $84.00 price target (up previously from $78.00) on shares of Canadian National Railway in a research report on Thursday, July 13th. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded shares of Canadian National Railway from a “hold” rating to a “buy” rating and set a $93.00 price target on the stock in a research report on Tuesday, July 11th. Fourteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Canadian National Railway has an average 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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