Copeland Capital Management LLC reduced its position in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 30.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 71,756 shares of the transportation company’s stock after selling 31,916 shares during the period. Copeland Capital Management LLC’s holdings in Canadian National Railway were worth $5,816,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in CNI. Wellington Management Group LLP boosted its position in 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 last quarter. William Blair Investment Management LLC boosted its position in 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 last quarter. Vanguard Group Inc. boosted its position in 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 last quarter. OppenheimerFunds Inc. boosted its position in 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 last quarter. Finally, Brookfield Asset Management Inc. bought a new position in Canadian National Railway during the fourth quarter valued at $17,710,000. 55.11% of the stock is owned by hedge funds and other institutional investors.
Shares of Canadian National Railway Company (CNI) traded down 0.38% on Friday, hitting $79.32. 1,119,244 shares of the stock were exchanged. The company’s 50 day moving average is $81.24 and its 200-day moving average is $75.14. The stock has a market cap of $59.57 billion, a PE ratio of 20.25 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 company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be issued a $0.3276 dividend. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $1.31 annualized dividend and a yield of 1.65%. Canadian National Railway’s dividend payout ratio (DPR) is 31.77%.
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Several research firms recently weighed in on CNI. Credit Suisse Group reaffirmed a “neutral” rating and set a $84.00 target price (up from $78.00) on shares of Canadian National Railway in a research note on Thursday, July 13th. They noted that the move was a valuation call. Zacks Investment Research raised shares of Canadian National Railway from a “hold” rating to a “buy” rating and set a $93.00 price objective for the company in a research note on Tuesday, July 11th. BidaskClub cut shares of Canadian National Railway from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Stifel Nicolaus lifted their price objective on shares of Canadian National Railway from $74.00 to $79.00 and gave the stock a “hold” rating in a research note on Thursday, June 15th. Finally, Cowen and Company lifted their price objective on shares of Canadian National Railway from $77.00 to $81.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 25th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and seven have given a buy rating to the company. Canadian National Railway currently has a consensus rating of “Hold” and a consensus target price 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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