Patten Group Inc. increased its stake in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 731.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 156,837 shares of the transportation company’s stock after purchasing an additional 137,977 shares during the period. Patten Group Inc.’s holdings in Canadian National Railway were worth $1,554,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its stake in shares of Canadian National Railway by 9.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 253,063 shares of the transportation company’s stock worth $18,709,000 after buying an additional 21,155 shares during the last quarter. HL Financial Services LLC boosted its stake in shares of Canadian National Railway by 23.5% during the 2nd quarter. HL Financial Services LLC now owns 5,279 shares of the transportation company’s stock worth $428,000 after buying an additional 1,005 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of Canadian National Railway by 118.2% during the 2nd quarter. Canada Pension Plan Investment Board now owns 204,700 shares of the transportation company’s stock worth $16,585,000 after buying an additional 110,900 shares during the last quarter. Duff & Phelps Investment Management Co. acquired a new position in shares of Canadian National Railway during the 2nd quarter worth about $7,854,000. Finally, DekaBank Deutsche Girozentrale boosted its stake in shares of Canadian National Railway by 82.3% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 98,366 shares of the transportation company’s stock worth $7,962,000 after buying an additional 44,403 shares during the last quarter. 53.83% of the stock is owned by hedge funds and other institutional investors.

A number of research firms have recently commented on CNI. Zacks Investment Research downgraded shares of Canadian National Railway from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 26th. BidaskClub upgraded shares of Canadian National Railway from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. Royal Bank Of Canada restated an “outperform” rating on shares of Canadian National Railway in a research note on Wednesday, October 25th. Goldman Sachs Group began coverage on shares of Canadian National Railway in a research note on Monday, November 13th. They set a “buy” rating and a $85.00 price objective for the company. Finally, Stifel Nicolaus restated a “hold” rating and set a $89.00 price objective on shares of Canadian National Railway in a research note on Friday, October 6th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company. Canadian National Railway presently has an average rating of “Hold” and a consensus price target of $79.67.

Shares of Canadian National Railway (NYSE:CNI) opened at $80.07 on Monday. Canadian National Railway has a one year low of $66.58 and a one year high of $84.48. The stock has a market cap of $59,740.23, a PE ratio of 20.74, a P/E/G ratio of 2.16 and a beta of 1.09. The company has a quick ratio of 0.49, a current ratio of 0.61 and a debt-to-equity ratio of 0.58.

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

The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 8th will be paid a $0.3304 dividend. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.33. This represents a $1.32 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend is Thursday, December 7th. Canadian National Railway’s dividend payout ratio (DPR) is 33.33%.

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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.

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

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