Capital Innovations LLC Grows Holdings in Canadian National Railway Company (CNI)

Capital Innovations LLC boosted its holdings in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 44.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,500 shares of the transportation company’s stock after purchasing an additional 2,000 shares during the quarter. Canadian National Railway makes up about 2.0% of Capital Innovations LLC’s investment portfolio, making the stock its 17th largest holding. Capital Innovations LLC’s holdings in Canadian National Railway were worth $527,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Raymond James Financial Services Advisors Inc. boosted its holdings in Canadian National Railway by 3.4% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 24,170 shares of the transportation company’s stock worth $1,962,000 after purchasing an additional 806 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in Canadian National Railway by 363.0% in the second quarter. Arrowstreet Capital Limited Partnership now owns 5,913,974 shares of the transportation company’s stock worth $479,249,000 after purchasing an additional 4,636,737 shares during the period. Cubist Systematic Strategies LLC boosted its holdings in Canadian National Railway by 251.0% in the second quarter. Cubist Systematic Strategies LLC now owns 21,468 shares of the transportation company’s stock worth $1,741,000 after purchasing an additional 15,352 shares during the period. Carret Asset Management LLC boosted its holdings in Canadian National Railway by 0.5% in the second quarter. Carret Asset Management LLC now owns 78,009 shares of the transportation company’s stock worth $6,323,000 after purchasing an additional 400 shares during the period. Finally, Gotham Asset Management LLC boosted its holdings in Canadian National Railway by 146.8% in the second quarter. Gotham Asset Management LLC now owns 52,228 shares of the transportation company’s stock worth $4,233,000 after purchasing an additional 31,066 shares during the period. 54.45% of the stock is owned by hedge funds and other institutional investors.

Shares of Canadian National Railway Company (NYSE CNI) traded up 0.53% during midday trading on Tuesday, hitting $80.89. 320,951 shares of the company were exchanged. The firm has a market cap of $60.75 billion, a P/E ratio of 19.34 and a beta of 1.13. Canadian National Railway Company has a one year low of $61.72 and a one year high of $84.48. The company’s 50 day moving average price is $81.14 and its 200 day moving average price is $78.55.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 8th were issued a dividend of $0.3276 per share. This represents a $1.31 annualized dividend and a dividend yield of 1.63%. The ex-dividend date was Thursday, September 7th. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.31. Canadian National Railway’s dividend payout ratio is presently 34.38%.

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A number of equities analysts have commented on CNI shares. BidaskClub raised shares of Canadian National Railway from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 13th. Stifel Nicolaus lifted their price objective on shares of Canadian National Railway from $74.00 to $79.00 and gave the stock a “hold” rating in a report on Thursday, June 15th. Zacks Investment Research raised shares of Canadian National Railway from a “hold” rating to a “buy” rating and set a $93.00 price objective for the company in a report on Tuesday, July 11th. Credit Suisse Group reaffirmed a “neutral” rating and issued a $84.00 price objective (up previously from $78.00) on shares of Canadian National Railway in a report on Thursday, July 13th. They noted that the move was a valuation call. Finally, Cowen and Company reissued a “buy” rating and set a $83.00 price target on shares of Canadian National Railway in a report on Sunday, September 24th. Fifteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $82.47.

About Canadian National Railway

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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