Cumberland Partners Ltd decreased its position in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 14.7% during the second quarter, Holdings Channel reports. The firm owned 3,026 shares of the transportation company’s stock after selling 520 shares during the period. Cumberland Partners Ltd’s holdings in Canadian National Railway were worth $245,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Broderick Brian C increased its position in Canadian National Railway by 0.7% in the first quarter. Broderick Brian C now owns 111,198 shares of the transportation company’s stock worth $8,220,000 after buying an additional 748 shares during the period. Pinnacle Associates Ltd. increased its position in Canadian National Railway by 2.1% in the first quarter. Pinnacle Associates Ltd. now owns 142,901 shares of the transportation company’s stock worth $10,565,000 after buying an additional 3,005 shares during the period. AQR Capital Management LLC increased its position in 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 worth $34,514,000 after buying an additional 42,354 shares during the period. JPMorgan Chase & Co. increased its position in 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 worth $103,935,000 after buying an additional 31,746 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in 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 worth $963,000 after buying an additional 1,840 shares during the period. 55.30% of the stock is owned by hedge funds and other institutional investors.

Shares of Canadian National Railway Company (NYSE:CNI) opened at 79.03 on Friday. The company has a market cap of $59.35 billion, a PE ratio of 19.50 and a beta of 1.11. The company has a 50-day moving average price of $81.17 and a 200-day moving average price of $75.53. Canadian National Railway Company has a 1-year low of $61.11 and a 1-year high of $84.48.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be paid a dividend of $0.3276 per share. This represents a $1.31 dividend on an annualized basis and a dividend yield of 1.66%. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Thursday, September 7th. Canadian National Railway’s payout ratio is presently 31.77%.

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CNI has been the subject of a number of recent research reports. Cowen and Company upped their price target on Canadian National Railway from $77.00 to $81.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 25th. Credit Suisse Group reiterated a “neutral” rating and set a $84.00 price objective (up previously 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. BidaskClub cut Canadian National Railway from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 22nd. Barclays PLC dropped their price objective on Canadian National Railway from $71.00 to $69.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 25th. Finally, Stifel Nicolaus upped their price objective on Canadian National Railway from $74.00 to $79.00 and gave the stock a “hold” rating in a research note on Thursday, June 15th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price 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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