Canadian National Railway Company (CNI) Shares Sold by Puzo Michael J

Puzo Michael J lowered its stake in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 0.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 89,756 shares of the transportation company’s stock after selling 778 shares during the quarter. Canadian National Railway makes up 3.9% of Puzo Michael J’s investment portfolio, making the stock its 3rd largest position. Puzo Michael J’s holdings in Canadian National Railway were worth $7,435,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Baskin Financial Services Inc. boosted its stake in Canadian National Railway by 16.4% in the 3rd quarter. Baskin Financial Services Inc. now owns 9,672 shares of the transportation company’s stock worth $799,000 after purchasing an additional 1,362 shares during the period. Dempze Nancy E boosted its stake in Canadian National Railway by 3.0% in the 3rd quarter. Dempze Nancy E now owns 25,161 shares of the transportation company’s stock worth $2,085,000 after purchasing an additional 727 shares during the period. Gardiner Nancy B boosted its stake in Canadian National Railway by 3.2% in the 3rd quarter. Gardiner Nancy B now owns 30,416 shares of the transportation company’s stock worth $2,521,000 after purchasing an additional 930 shares during the period. Raymond James Financial Services Advisors Inc. boosted its stake in Canadian National Railway by 3.4% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 24,992 shares of the transportation company’s stock worth $2,072,000 after purchasing an additional 822 shares during the period. Finally, Hemenway Trust Co LLC boosted its stake in Canadian National Railway by 3.0% in the 3rd quarter. Hemenway Trust Co LLC now owns 190,213 shares of the transportation company’s stock worth $15,759,000 after purchasing an additional 5,546 shares during the period. Institutional investors and hedge funds own 54.32% of the company’s stock.

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A number of analysts have recently issued reports on CNI shares. BidaskClub upgraded Canadian National Railway from a “sell” rating to a “hold” rating in a research report on Wednesday, August 16th. Zacks Investment Research upgraded Canadian National Railway from a “hold” rating to a “buy” rating and set a $93.00 price target for the company in a research report on Tuesday, July 11th. Raymond James Financial, Inc. downgraded Canadian National Railway from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 25th. Credit Suisse Group reiterated a “neutral” rating on shares of Canadian National Railway in a research report on Friday, July 28th. Finally, Cowen and Company reiterated a “buy” rating and set a $83.00 price target on shares of Canadian National Railway in a research report on Sunday, September 24th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $79.86.

Shares of Canadian National Railway Company (NYSE:CNI) traded down 0.14% during trading on Tuesday, hitting $81.10. The company had a trading volume of 220,669 shares. The firm’s 50 day moving average is $81.54 and its 200-day moving average is $79.39. The stock has a market capitalization of $60.91 billion, a P/E ratio of 20.52 and a beta of 1.13. Canadian National Railway Company has a 52 week low of $61.72 and a 52 week high of $84.48.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 8th will be paid a $0.3304 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.63%. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Thursday, December 7th. Canadian National Railway’s dividend payout ratio (DPR) is presently 33.85%.

Canadian National Railway announced that its board has initiated a stock repurchase plan on Tuesday, October 24th that authorizes the company to repurchase 31,000,000 shares. This repurchase authorization authorizes the transportation company to purchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

Canadian National Railway 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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