Andra AP fonden lowered its position in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 10.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 76,300 shares of the transportation company’s stock after selling 8,700 shares during the period. Andra AP fonden’s holdings in Canadian National Railway were worth $6,321,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. TD Asset Management Inc. grew its holdings in shares of Canadian National Railway by 4.1% in the 2nd quarter. TD Asset Management Inc. now owns 18,836,822 shares of the transportation company’s stock worth $1,526,012,000 after acquiring an additional 740,664 shares during the period. Vanguard Group Inc. grew its holdings in shares of Canadian National Railway by 15.5% in the 2nd quarter. Vanguard Group Inc. now owns 16,793,837 shares of the transportation company’s stock worth $1,361,140,000 after acquiring an additional 2,251,612 shares during the period. Harding Loevner LP grew its holdings in shares of Canadian National Railway by 7.4% in the 2nd quarter. Harding Loevner LP now owns 6,159,203 shares of the transportation company’s stock worth $499,203,000 after acquiring an additional 422,533 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in shares of Canadian National Railway by 363.0% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 5,913,974 shares of the transportation company’s stock worth $479,249,000 after acquiring an additional 4,636,737 shares during the period. Finally, William Blair Investment Management LLC grew its holdings in shares of Canadian National Railway by 34.7% in the 2nd quarter. William Blair Investment Management LLC now owns 4,474,642 shares of the transportation company’s stock worth $362,542,000 after acquiring an additional 1,152,495 shares during the period. Institutional investors and hedge funds own 54.32% of the company’s stock.

A number of equities research analysts recently weighed in on CNI shares. Desjardins upgraded Canadian National Railway from a “hold” rating to a “buy” rating in a report on Wednesday, October 25th. Zacks Investment Research upgraded Canadian National Railway from a “hold” rating to a “buy” rating and set a $93.00 target price on the stock in a report on Tuesday, July 11th. Cowen and Company reiterated a “buy” rating and set a $83.00 target price on shares of Canadian National Railway in a report on Sunday, September 24th. Stifel Nicolaus reiterated a “hold” rating and set a $89.00 target price on shares of Canadian National Railway in a report on Friday, October 6th. Finally, BidaskClub upgraded Canadian National Railway from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company. Canadian National Railway currently has a consensus rating of “Hold” and an average price target of $79.00.

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Canadian National Railway Company (CNI) opened at $80.27 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 market capitalization of $59,889.44, a price-to-earnings ratio of 20.80, a price-to-earnings-growth ratio of 2.16 and a beta of 1.11. The company has a current ratio of 0.61, a quick ratio of 0.49 and a debt-to-equity ratio of 0.58.

Canadian National Railway declared that its Board of Directors has authorized a share repurchase program on Tuesday, October 24th that allows the company to buyback 31,000,000 outstanding shares. This buyback authorization allows the transportation company to buy shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 8th will be paid a dividend of $0.3304 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date of this dividend is Thursday, December 7th. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.33. Canadian National Railway’s dividend payout ratio is currently 33.85%.

Canadian National Railway 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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