Scotia Capital Inc. Has $137.67 Million Holdings in Canadian National Railway Company (CNI)

Scotia Capital Inc. trimmed its holdings in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 2.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,699,842 shares of the transportation company’s stock after selling 39,015 shares during the quarter. Canadian National Railway accounts for about 2.3% of Scotia Capital Inc.’s portfolio, making the stock its 9th biggest holding. Scotia Capital Inc. owned 0.23% of Canadian National Railway worth $137,672,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of CNI. Arrowstreet Capital Limited Partnership lifted its holdings in Canadian National Railway by 363.0% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 5,913,974 shares of the transportation company’s stock valued at $479,249,000 after acquiring an additional 4,636,737 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Canadian National Railway by 15.5% in the 2nd quarter. Vanguard Group Inc. now owns 16,793,837 shares of the transportation company’s stock valued at $1,361,140,000 after acquiring an additional 2,251,612 shares during the last quarter. William Blair Investment Management LLC lifted its holdings in Canadian National Railway by 34.7% in the 2nd quarter. William Blair Investment Management LLC now owns 4,474,642 shares of the transportation company’s stock valued at $362,542,000 after acquiring an additional 1,152,495 shares during the last quarter. TD Asset Management Inc. lifted its holdings in Canadian National Railway by 4.1% in the 2nd quarter. TD Asset Management Inc. now owns 18,836,822 shares of the transportation company’s stock valued at $1,526,012,000 after acquiring an additional 740,664 shares during the last quarter. Finally, Harding Loevner LP lifted its holdings in Canadian National Railway by 7.4% in the 2nd quarter. Harding Loevner LP now owns 6,159,203 shares of the transportation company’s stock valued at $499,203,000 after acquiring an additional 422,533 shares during the last quarter. 54.45% of the stock is owned by institutional investors.

CNI has been the subject of a number of research analyst reports. BidaskClub downgraded shares of Canadian National Railway from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 22nd. Credit Suisse Group reissued a “neutral” rating and issued a $84.00 price target (up 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. Zacks Investment Research raised shares of Canadian National Railway from a “hold” rating to a “buy” rating and set a $93.00 price target for the company in a report on Tuesday, July 11th. Stifel Nicolaus upped their price target on shares of Canadian National Railway from $74.00 to $79.00 and gave the company a “hold” rating in a report on Thursday, June 15th. Finally, Cowen and Company reissued a “buy” rating and issued 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 stock. Canadian National Railway presently has a consensus rating of “Hold” and an average price target of $82.47.

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Shares of Canadian National Railway Company (CNI) traded up 0.53% during trading on Tuesday, hitting $80.89. The stock had a trading volume of 320,951 shares. The company has a market capitalization of $60.75 billion, a price-to-earnings ratio of 19.34 and a beta of 1.13. The firm has a 50 day moving average of $81.14 and a 200 day moving average of $78.55. Canadian National Railway Company has a 1-year low of $61.72 and a 1-year high of $84.48.

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

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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