Canada Pension Plan Investment Board increased its stake in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 118.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 204,700 shares of the transportation company’s stock after buying an additional 110,900 shares during the period. Canada Pension Plan Investment Board’s holdings in Canadian National Railway were worth $16,585,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in CNI. Bronfman E.L. Rothschild L.P. increased its position in Canadian National Railway by 598.5% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,404 shares of the transportation company’s stock valued at $104,000 after buying an additional 1,203 shares in the last quarter. City Holding Co. increased its position in Canadian National Railway by 15.4% in the second quarter. City Holding Co. now owns 1,313 shares of the transportation company’s stock valued at $106,000 after buying an additional 175 shares in the last quarter. UBS Asset Management Americas Inc. bought a new position in Canadian National Railway during the first quarter valued at approximately $123,000. Proficio Capital Partners LLC increased its position in Canadian National Railway by 151.9% in the first quarter. Proficio Capital Partners LLC now owns 1,768 shares of the transportation company’s stock valued at $135,000 after buying an additional 1,066 shares in the last quarter. Finally, SRS Capital Advisors Inc. increased its position in Canadian National Railway by 14.4% in the first quarter. SRS Capital Advisors Inc. now owns 2,324 shares of the transportation company’s stock valued at $171,000 after buying an additional 293 shares in the last quarter. Hedge funds and other institutional investors own 55.56% of the company’s stock.

Shares of Canadian National Railway Company (NYSE:CNI) opened at 80.11 on Wednesday. The company’s 50-day moving average is $81.14 and its 200 day moving average is $75.81. Canadian National Railway Company has a 52-week low of $61.11 and a 52-week high of $84.48. The company has a market cap of $60.16 billion, a PE ratio of 19.77 and a beta of 1.11.

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 issued a dividend of $0.3276 per share. This represents a $1.31 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date is Thursday, September 7th. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.31. Canadian National Railway’s payout ratio is presently 31.77%.

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Several research firms have commented on CNI. Credit Suisse Group reiterated a “neutral” rating and issued a $84.00 price objective (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. Barclays PLC restated an “equal weight” rating and issued a $81.00 price target (up from $69.00) on shares of Canadian National Railway in a research note on Wednesday, May 17th. BidaskClub downgraded shares of Canadian National Railway from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Cowen and Company upped their price target on shares of Canadian National Railway from $77.00 to $81.00 and gave the company an “outperform” rating in a research note on Tuesday, April 25th. Finally, Stifel Nicolaus upped 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 note on Tuesday, April 25th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $80.56.

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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