Canadian National Railway Company (CNI) Holdings Decreased by Northern Trust Corp
Northern Trust Corp lessened its holdings in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 0.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 917,086 shares of the transportation company’s stock after selling 3,043 shares during the quarter. Northern Trust Corp owned approximately 0.12% of Canadian National Railway worth $74,331,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the business. City Holding Co. boosted its holdings in shares of Canadian National Railway by 15.4% during the second quarter. City Holding Co. now owns 1,313 shares of the transportation company’s stock worth $106,000 after purchasing an additional 175 shares during the last quarter. Bronfman E.L. Rothschild L.P. grew its position in shares of Canadian National Railway by 0.9% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,416 shares of the transportation company’s stock valued at $115,000 after purchasing an additional 12 shares during the period. UBS Asset Management Americas Inc. purchased a new stake in shares of Canadian National Railway in the first quarter valued at $123,000. Proficio Capital Partners LLC grew its position in shares of Canadian National Railway by 151.9% in the first quarter. Proficio Capital Partners LLC now owns 1,768 shares of the transportation company’s stock valued at $135,000 after purchasing an additional 1,066 shares during the period. Finally, Nikko Asset Management Americas Inc. purchased a new stake in shares of Canadian National Railway in the second quarter valued at $146,000. 54.45% of the stock is currently owned by institutional investors.
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Canadian National Railway Company (NYSE:CNI) opened at 82.85 on Monday. Canadian National Railway Company has a 52-week low of $61.72 and a 52-week high of $84.48. The stock has a market capitalization of $62.22 billion, a price-to-earnings ratio of 19.81 and a beta of 1.13. The firm has a 50-day moving average price of $80.33 and a 200 day moving average price of $77.56.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 8th were issued a $0.3276 dividend. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $1.31 dividend on an annualized basis and a yield of 1.58%. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.31. Canadian National Railway’s dividend payout ratio is currently 34.38%.
CNI has been the subject of several analyst reports. Cowen and Company reiterated a “buy” rating and issued a $83.00 target price on shares of Canadian National Railway in a research note on Sunday, September 24th. Zacks Investment Research raised Canadian National Railway from a “hold” rating to a “buy” rating and set a $93.00 price target on the stock in a research note on Tuesday, July 11th. BidaskClub lowered Canadian National Railway from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 22nd. Stifel Nicolaus lifted their price target on Canadian National Railway from $74.00 to $79.00 and gave the company a “hold” rating in a report on Thursday, June 15th. Finally, Credit Suisse Group restated a “neutral” rating on shares of Canadian National Railway in a report on Friday, July 28th. Fifteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $81.80.
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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