Canadian National Railway Company (CNI) Shares Sold by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. trimmed its holdings in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 12.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 125,100 shares of the transportation company’s stock after selling 17,801 shares during the period. Pinnacle Associates Ltd.’s holdings in Canadian National Railway were worth $10,139,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in CNI. Wellington Management Group LLP increased its position in shares of Canadian National Railway by 7.9% during the first quarter. Wellington Management Group LLP now owns 30,335,430 shares of the transportation company’s stock valued at $2,236,347,000 after acquiring an additional 2,227,390 shares in the last quarter. William Blair Investment Management LLC increased its position in shares of Canadian National Railway by 54.1% during the first quarter. William Blair Investment Management LLC now owns 3,322,147 shares of the transportation company’s stock valued at $244,625,000 after acquiring an additional 1,165,992 shares in the last quarter. TD Asset Management Inc. increased its position in shares of Canadian National Railway by 4.1% during the second quarter. TD Asset Management Inc. now owns 18,836,822 shares of the transportation company’s stock valued at $1,526,012,000 after acquiring an additional 740,664 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Canadian National Railway by 3.5% during the first quarter. Vanguard Group Inc. now owns 14,542,225 shares of the transportation company’s stock valued at $1,075,107,000 after acquiring an additional 493,026 shares in the last quarter. Finally, OppenheimerFunds Inc. increased its position in shares of Canadian National Railway by 15.6% during the first quarter. OppenheimerFunds Inc. now owns 3,506,422 shares of the transportation company’s stock valued at $259,230,000 after acquiring an additional 472,909 shares in the last quarter. Hedge funds and other institutional investors own 54.49% of the company’s stock.

A number of research firms have commented on CNI. BidaskClub upgraded shares of Canadian National Railway from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. Zacks Investment Research upgraded shares of Canadian National Railway from a “hold” rating to a “buy” rating and set a $93.00 target price on the stock in a research note on Tuesday, July 11th. Credit Suisse Group reiterated a “neutral” rating on shares of Canadian National Railway in a research note on Friday, July 28th. Finally, Stifel Nicolaus boosted their price target on shares of Canadian National Railway from $74.00 to $79.00 and gave the stock a “hold” rating in a research note on Thursday, June 15th. Fourteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $80.56.

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Canadian National Railway Company (CNI) opened at 81.64 on Friday. Canadian National Railway Company has a 52 week low of $61.72 and a 52 week high of $84.48. The firm has a 50-day moving average of $80.16 and a 200-day moving average of $77.31. The company has a market capitalization of $61.31 billion, a P/E ratio of 20.36 and a beta of 1.11.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 8th will be given a dividend of $0.3276 per share. The ex-dividend date is Thursday, September 7th. This represents a $1.31 dividend on an annualized basis and a dividend yield of 1.61%. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.31. Canadian National Railway’s dividend payout ratio (DPR) is presently 34.38%.

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.

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

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