First Allied Advisory Services Inc. reduced its stake in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 24.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,742 shares of the transportation company’s stock after selling 866 shares during the period. First Allied Advisory Services Inc.’s holdings in Canadian National Railway were worth $228,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. grew its holdings in shares of Canadian National Railway by 4.0% during the third quarter. Oppenheimer Asset Management Inc. now owns 105,751 shares of the transportation company’s stock valued at $8,762,000 after buying an additional 4,081 shares during the last quarter. Allianz Asset Management GmbH grew its holdings in shares of Canadian National Railway by 81.5% during the third quarter. Allianz Asset Management GmbH now owns 365,192 shares of the transportation company’s stock valued at $30,188,000 after buying an additional 164,008 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of Canadian National Railway by 0.3% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 15,870,472 shares of the transportation company’s stock valued at $1,317,389,000 after buying an additional 46,700 shares during the last quarter. Private Advisor Group LLC grew its holdings in shares of Canadian National Railway by 51.6% during the third quarter. Private Advisor Group LLC now owns 12,312 shares of the transportation company’s stock valued at $997,000 after buying an additional 4,191 shares during the last quarter. Finally, Stifel Financial Corp grew its holdings in shares of Canadian National Railway by 2.4% during the third quarter. Stifel Financial Corp now owns 156,733 shares of the transportation company’s stock valued at $12,985,000 after buying an additional 3,630 shares during the last quarter. 53.83% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Canadian National Railway from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 26th. Royal Bank of Canada reiterated an “outperform” rating on shares of Canadian National Railway in a report on Wednesday, October 25th. Goldman Sachs Group assumed coverage on shares of Canadian National Railway in a report on Monday, November 13th. They set a “buy” rating and a $85.00 price objective for the company. Stifel Nicolaus reiterated a “hold” rating and set a $89.00 price objective on shares of Canadian National Railway in a report on Friday, October 6th. Finally, TD Securities upgraded shares of Canadian National Railway from a “hold” rating to a “buy” rating in a report on Thursday, November 30th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $79.67.

Canadian National Railway (NYSE:CNI) opened at $80.35 on Friday. Canadian National Railway has a twelve month low of $66.77 and a twelve month high of $84.48. The firm has a market cap of $60,381.87, a PE ratio of 20.97, a P/E/G ratio of 2.19 and a beta of 1.09. 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 has authorized a stock repurchase program on Tuesday, October 24th that permits the company to buyback 31,000,000 outstanding shares. This buyback authorization permits the transportation company to purchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

The company also recently declared 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. The ex-dividend date of this dividend is Thursday, December 7th. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.33. This represents a $1.32 annualized dividend and a yield of 1.64%. Canadian National Railway’s payout ratio 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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