Huntington National Bank Decreases Position in Canadian National Railway (CNI)

Huntington National Bank cut its holdings in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 3.6% during the 4th quarter, HoldingsChannel reports. The fund owned 97,404 shares of the transportation company’s stock after selling 3,599 shares during the quarter. Huntington National Bank’s holdings in Canadian National Railway were worth $8,035,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Delaney Dennis R grew its stake in shares of Canadian National Railway by 24.6% in the fourth quarter. Delaney Dennis R now owns 43,410 shares of the transportation company’s stock valued at $3,581,000 after acquiring an additional 8,578 shares in the last quarter. Notis McConarty Edward grew its stake in shares of Canadian National Railway by 13.7% in the fourth quarter. Notis McConarty Edward now owns 44,310 shares of the transportation company’s stock valued at $3,655,000 after acquiring an additional 5,350 shares in the last quarter. Puzo Michael J grew its stake in shares of Canadian National Railway by 21.2% in the fourth quarter. Puzo Michael J now owns 108,782 shares of the transportation company’s stock valued at $8,972,000 after acquiring an additional 19,026 shares in the last quarter. CIBC Asset Management Inc grew its stake in shares of Canadian National Railway by 4.1% in the fourth quarter. CIBC Asset Management Inc now owns 6,343,427 shares of the transportation company’s stock valued at $525,260,000 after acquiring an additional 251,556 shares in the last quarter. Finally, Dempze Nancy E grew its stake in shares of Canadian National Railway by 16.7% in the fourth quarter. Dempze Nancy E now owns 29,354 shares of the transportation company’s stock valued at $2,420,000 after acquiring an additional 4,193 shares in the last quarter. Institutional investors and hedge funds own 53.66% of the company’s stock.

CNI has been the topic of several research reports. Goldman Sachs Group initiated coverage on shares of Canadian National Railway in a research note on Monday, November 13th. They issued a “buy” rating and a $85.00 price target on the stock. Zacks Investment Research upgraded shares of Canadian National Railway from a “sell” rating to a “hold” rating in a research note on Thursday, January 4th. Desjardins upgraded shares of Canadian National Railway from a “hold” rating to a “buy” rating in a research note on Wednesday, October 25th. Raymond James Financial downgraded shares of Canadian National Railway from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 25th. Finally, Deutsche Bank began coverage on shares of Canadian National Railway in a research note on Wednesday, November 1st. They set a “sell” rating and a $73.00 price objective on the stock. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company. Canadian National Railway has a consensus rating of “Hold” and a consensus target price of $81.38.

Shares of Canadian National Railway (NYSE:CNI) opened at $77.17 on Tuesday. The stock has a market cap of $58,115.32, a PE ratio of 20.27, a price-to-earnings-growth ratio of 1.96 and a beta of 1.00. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.44 and a current ratio of 0.55. Canadian National Railway has a one year low of $68.27 and a one year high of $85.73.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Thursday, March 8th will be paid a dividend of $0.3665 per share. This represents a $1.47 dividend on an annualized basis and a yield of 1.90%. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Wednesday, March 7th. Canadian National Railway’s dividend payout ratio is presently 23.23%.

Canadian National Railway announced that its Board of Directors has initiated a share repurchase program on Tuesday, October 24th that permits the company to buyback 31,000,000 outstanding shares. This buyback authorization permits the transportation company to purchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

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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.

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

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