Tetrem Capital Management Ltd. decreased its stake in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 5.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 862,352 shares of the transportation company’s stock after selling 45,620 shares during the period. Canadian National Railway accounts for about 3.0% of Tetrem Capital Management Ltd.’s holdings, making the stock its 8th biggest holding. Tetrem Capital Management Ltd. owned 0.11% of Canadian National Railway worth $69,835,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of CNI. Wellington Management Group LLP increased its stake in shares of Canadian National Railway by 7.9% in the first quarter. Wellington Management Group LLP now owns 30,335,430 shares of the transportation company’s stock valued at $2,236,347,000 after buying an additional 2,227,390 shares during the period. William Blair Investment Management LLC increased its stake in shares of Canadian National Railway by 54.1% in the first quarter. William Blair Investment Management LLC now owns 3,322,147 shares of the transportation company’s stock valued at $244,625,000 after buying an additional 1,165,992 shares during the period. TD Asset Management Inc. increased its stake in shares of Canadian National Railway by 4.1% in the second quarter. TD Asset Management Inc. now owns 18,836,822 shares of the transportation company’s stock valued at $1,526,012,000 after buying an additional 740,664 shares during the period. Vanguard Group Inc. increased its stake in shares of Canadian National Railway by 3.5% in the first quarter. Vanguard Group Inc. now owns 14,542,225 shares of the transportation company’s stock valued at $1,075,107,000 after buying an additional 493,026 shares during the period. Finally, OppenheimerFunds Inc. increased its stake in shares of Canadian National Railway by 15.6% in the first quarter. OppenheimerFunds Inc. now owns 3,506,422 shares of the transportation company’s stock valued at $259,230,000 after buying an additional 472,909 shares during the period. 54.45% of the stock is owned by institutional investors.

Shares of Canadian National Railway Company (CNI) traded up 0.77% on Tuesday, reaching $82.36. The company’s stock had a trading volume of 312,229 shares. Canadian National Railway Company has a 12-month low of $61.72 and a 12-month high of $84.48. The company’s 50 day moving average price is $80.24 and its 200 day moving average price is $77.49. The company has a market cap of $61.85 billion, a P/E ratio of 20.28 and a beta of 1.11.

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 $0.3276 dividend. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.31. This represents a $1.31 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date is Thursday, September 7th. Canadian National Railway’s payout ratio is currently 34.38%.

CNI has been the subject of several recent research reports. Zacks Investment Research raised Canadian National Railway from a “hold” rating to a “buy” rating and set a $93.00 price target for the company 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 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 research report on Thursday, June 15th. Finally, Credit Suisse Group restated a “neutral” rating on shares of Canadian National Railway in a research report on Friday, July 28th. Fourteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Canadian National Railway currently has a consensus rating of “Hold” and an average target price of $80.56.

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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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