Sumitomo Mitsui Trust Holdings Inc. cut its position in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 0.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,142,042 shares of the transportation company’s stock after selling 13,239 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.29% of Canadian National Railway worth $177,382,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in CNI. OMERS ADMINISTRATION Corp acquired a new position in shares of Canadian National Railway during the second quarter worth approximately $2,293,000. Eaton Vance Management lifted its position in shares of Canadian National Railway by 5,323.4% during the second quarter. Eaton Vance Management now owns 203,757 shares of the transportation company’s stock worth $16,515,000 after purchasing an additional 200,000 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of Canadian National Railway by 5.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 122,795 shares of the transportation company’s stock worth $9,952,000 after purchasing an additional 5,955 shares in the last quarter. Fiduciary Trust Co. lifted its position in shares of Canadian National Railway by 16.9% during the second quarter. Fiduciary Trust Co. now owns 25,620 shares of the transportation company’s stock worth $2,077,000 after purchasing an additional 3,700 shares in the last quarter. Finally, Broderick Brian C lifted its position in shares of Canadian National Railway by 0.8% during the second quarter. Broderick Brian C now owns 112,066 shares of the transportation company’s stock worth $9,082,000 after purchasing an additional 868 shares in the last quarter. Hedge funds and other institutional investors own 54.42% of the company’s stock.

Several equities analysts recently weighed in on CNI shares. Zacks Investment Research upgraded shares of Canadian National Railway from a “sell” rating to a “hold” rating in a report on Monday, November 6th. Raymond James Financial, Inc. lowered shares of Canadian National Railway from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 25th. Desjardins upgraded shares of Canadian National Railway from a “hold” rating to a “buy” rating in a report on Wednesday, October 25th. Deutsche Bank AG began coverage on shares of Canadian National Railway in a research note on Wednesday, November 1st. They issued a “sell” rating and a $73.00 target price for the company. Finally, Credit Suisse Group reaffirmed a “neutral” rating on shares of Canadian National Railway in a research note on Friday, July 28th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $79.67.

Shares of Canadian National Railway Company (NYSE:CNI) traded down $0.15 on Wednesday, reaching $80.18. 614,600 shares of the company traded hands, compared to its average volume of 1,054,980. Canadian National Railway Company has a fifty-two week low of $63.19 and a fifty-two week high of $84.48. The firm has a market capitalization of $59,934.21, a PE ratio of 20.81, a price-to-earnings-growth ratio of 2.16 and a beta of 1.11. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.61 and a quick ratio of 0.49.

Canadian National Railway declared that its Board of Directors has approved a stock buyback program on Tuesday, October 24th that allows the company to buyback 31,000,000 shares. This buyback authorization allows the transportation company to reacquire shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 8th will be issued a dividend of $0.3304 per share. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.33. The ex-dividend date is Thursday, December 7th. This represents a $1.32 annualized dividend and a yield of 1.65%. Canadian National Railway’s dividend payout ratio is presently 33.85%.

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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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