State of Tennessee Treasury Department increased its position in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 10.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,044,945 shares of the transportation company’s stock after buying an additional 100,425 shares during the period. State of Tennessee Treasury Department owned about 0.14% of Canadian National Railway worth $84,676,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the company. Bronfman E.L. Rothschild L.P. raised its position in Canadian National Railway by 598.5% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,404 shares of the transportation company’s stock valued at $104,000 after buying an additional 1,203 shares in the last quarter. City Holding Co. raised its position in Canadian National Railway by 15.4% in the second quarter. City Holding Co. now owns 1,313 shares of the transportation company’s stock valued at $106,000 after buying an additional 175 shares in the last quarter. UBS Asset Management Americas Inc. acquired a new position in Canadian National Railway during the first quarter valued at about $123,000. Proficio Capital Partners LLC raised its position in 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 buying an additional 1,066 shares in the last quarter. Finally, Nikko Asset Management Americas Inc. acquired a new position in Canadian National Railway during the second quarter valued at about $146,000. 54.49% of the stock is owned by hedge funds and other institutional investors.

Canadian National Railway Company (NYSE:CNI) traded up 0.28% during midday trading on Friday, hitting $81.22. The company’s stock had a trading volume of 626,684 shares. The company’s 50 day moving average price is $80.35 and its 200 day moving average price is $76.68. The firm has a market cap of $61.00 billion, a P/E ratio of 20.26 and a beta of 1.10. Canadian National Railway Company has a 12 month low of $61.11 and a 12 month high of $84.48.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 8th will be paid a dividend of $0.3276 per share. This represents a $1.31 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend is Thursday, September 7th. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.31. Canadian National Railway’s dividend payout ratio (DPR) is currently 31.77%.

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CNI has been the subject of several recent analyst reports. Credit Suisse Group reaffirmed a “neutral” rating and issued a $84.00 target price (up from $78.00) on shares of Canadian National Railway in a report on Thursday, July 13th. They noted that the move was a valuation call. BidaskClub lowered Canadian National Railway from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 22nd. Stifel Nicolaus upped their target price on Canadian National Railway from $74.00 to $79.00 and gave the company a “hold” rating in a report on Thursday, June 15th. Zacks Investment Research raised Canadian National Railway from a “hold” rating to a “buy” rating and set a $93.00 target price for the company in a report on Tuesday, July 11th. Finally, Barclays PLC reaffirmed an “equal weight” rating and issued a $81.00 target price (up from $69.00) on shares of Canadian National Railway in a report on Wednesday, May 17th. Fourteen research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $80.56.

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.

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

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