Wetherby Asset Management Inc. increased its stake in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 3.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,907 shares of the transportation company’s stock after buying an additional 436 shares during the period. Wetherby Asset Management Inc.’s holdings in Canadian National Railway were worth $965,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Broderick Brian C raised its position in shares of Canadian National Railway by 0.7% in the first quarter. Broderick Brian C now owns 111,198 shares of the transportation company’s stock valued at $8,220,000 after buying an additional 748 shares during the last quarter. Pinnacle Associates Ltd. raised its position in shares of Canadian National Railway by 2.1% in the first quarter. Pinnacle Associates Ltd. now owns 142,901 shares of the transportation company’s stock valued at $10,565,000 after buying an additional 3,005 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Canadian National Railway by 9.9% in the first quarter. AQR Capital Management LLC now owns 468,923 shares of the transportation company’s stock valued at $34,514,000 after buying an additional 42,354 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Canadian National Railway by 2.3% in the first quarter. JPMorgan Chase & Co. now owns 1,405,864 shares of the transportation company’s stock valued at $103,935,000 after buying an additional 31,746 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of Canadian National Railway by 16.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,028 shares of the transportation company’s stock valued at $963,000 after buying an additional 1,840 shares during the last quarter. 55.30% of the stock is currently owned by institutional investors.

Shares of Canadian National Railway Company (CNI) opened at 79.03 on Friday. The firm has a market capitalization of $59.35 billion, a P/E ratio of 19.50 and a beta of 1.11. Canadian National Railway Company has a 52 week low of $61.11 and a 52 week high of $84.48. The firm’s 50-day moving average is $81.17 and its 200-day moving average is $75.53.

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 is a boost from Canadian National Railway’s previous quarterly dividend of $0.31. This represents a $1.31 annualized dividend and a dividend yield of 1.66%. Canadian National Railway’s dividend payout ratio is currently 31.77%.

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CNI has been the topic of several research analyst reports. Cowen and Company increased their price objective on shares of Canadian National Railway from $77.00 to $81.00 and gave the company an “outperform” rating in a research report on Tuesday, April 25th. Credit Suisse Group reissued a “neutral” rating and issued a $84.00 price objective (up from $78.00) on shares of Canadian National Railway in a research report on Thursday, July 13th. They noted that the move was a valuation call. BidaskClub lowered shares of Canadian National Railway from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 22nd. Barclays PLC dropped their price objective on shares of Canadian National Railway from $71.00 to $69.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 25th. Finally, Stifel Nicolaus increased their price objective on shares of Canadian National Railway from $74.00 to $79.00 and gave the company a “hold” rating in a research report on Thursday, June 15th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $80.56.

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

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