Cidel Asset Management Inc. increased its position in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 1.5% during the second quarter, Holdings Channel reports. The firm owned 664,706 shares of the transportation company’s stock after buying an additional 9,898 shares during the period. Canadian National Railway accounts for approximately 2.5% of Cidel Asset Management Inc.’s holdings, making the stock its 14th largest position. Cidel Asset Management Inc.’s holdings in Canadian National Railway were worth $53,870,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of CNI. Wellington Management Group LLP raised its stake in Canadian National Railway by 7.9% in the first quarter. Wellington Management Group LLP now owns 30,335,430 shares of the transportation company’s stock worth $2,236,347,000 after buying an additional 2,227,390 shares during the period. William Blair Investment Management LLC raised its stake in Canadian National Railway by 54.1% in the first quarter. William Blair Investment Management LLC now owns 3,322,147 shares of the transportation company’s stock worth $244,625,000 after buying an additional 1,165,992 shares during the period. TD Asset Management Inc. raised its stake in Canadian National Railway by 4.1% in the second quarter. TD Asset Management Inc. now owns 18,836,822 shares of the transportation company’s stock worth $1,526,012,000 after buying an additional 740,664 shares during the period. Vanguard Group Inc. raised its stake in Canadian National Railway by 3.5% in the first quarter. Vanguard Group Inc. now owns 14,542,225 shares of the transportation company’s stock worth $1,075,107,000 after buying an additional 493,026 shares during the period. Finally, OppenheimerFunds Inc. raised its stake in Canadian National Railway by 15.6% in the first quarter. OppenheimerFunds Inc. now owns 3,506,422 shares of the transportation company’s stock worth $259,230,000 after buying an additional 472,909 shares during the period. Institutional investors and hedge funds own 55.56% of the company’s stock.

Canadian National Railway Company (NYSE:CNI) opened at 79.83 on Friday. The firm’s 50-day moving average price is $81.04 and its 200-day moving average price is $75.87. Canadian National Railway Company has a 1-year low of $61.11 and a 1-year high of $84.48. The firm has a market capitalization of $59.95 billion, a PE ratio of 19.70 and a beta of 1.11.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 8th will be paid a dividend of $0.3276 per share. The ex-dividend date of this dividend is Thursday, September 7th. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.31. This represents a $1.31 annualized dividend and a dividend yield of 1.64%. Canadian National Railway’s payout ratio is currently 31.77%.

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A number of equities research analysts have recently issued reports on CNI shares. BidaskClub lowered Canadian National Railway from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 22nd. Stifel Nicolaus upped their price target on Canadian National Railway from $73.00 to $74.00 and gave the company a “hold” rating in a research report on Tuesday, April 25th. 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 report on Wednesday, May 17th. Credit Suisse Group restated a “neutral” rating and issued a $84.00 price target (up from $78.00) on shares of Canadian National Railway in a research report on Thursday, July 13th. They noted that the move was a valuation call. Finally, 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. Fourteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $80.56.

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.

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

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