Commerce Bank Grows Stake in Canadian National Railway Company (NYSE:CNI)

Commerce Bank boosted its stake in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 4.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,071 shares of the transportation company’s stock after buying an additional 270 shares during the quarter. Commerce Bank’s holdings in Canadian National Railway were worth $493,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in CNI. Bronfman E.L. Rothschild L.P. lifted its holdings in Canadian National Railway by 598.5% during the 1st 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 stake in shares of Canadian National Railway by 15.4% during the 2nd quarter. City Holding Co. now owns 1,313 shares of the transportation company’s stock worth $106,000 after acquiring an additional 175 shares in the last quarter. UBS Asset Management Americas Inc. bought a new position in shares of Canadian National Railway during the 1st quarter worth approximately $123,000. Proficio Capital Partners LLC raised its stake in shares of Canadian National Railway by 151.9% during the 1st quarter. Proficio Capital Partners LLC now owns 1,768 shares of the transportation company’s stock worth $135,000 after acquiring an additional 1,066 shares in the last quarter. Finally, Nikko Asset Management Americas Inc. purchased a new stake in Canadian National Railway during the 2nd quarter worth approximately $146,000. Institutional investors own 54.49% of the company’s stock.

Canadian National Railway Company (NYSE CNI) traded up 0.07% during trading on Friday, hitting $81.09. 101,019 shares of the company traded hands. The firm has a market cap of $60.90 billion, a price-to-earnings ratio of 20.23 and a beta of 1.11. Canadian National Railway Company has a 52-week low of $61.72 and a 52-week high of $84.48. The company’s 50-day moving average is $80.08 and its 200 day moving average is $77.23.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be given a $0.3276 dividend. This represents a $1.31 dividend on an annualized basis and a yield of 1.62%. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.31. The ex-dividend date is Thursday, September 7th. Canadian National Railway’s dividend payout ratio (DPR) is 34.38%.

Several analysts have weighed in on CNI shares. Credit Suisse Group reissued a “neutral” rating and set a $84.00 target price (up previously 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 downgraded shares of Canadian National Railway from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 22nd. Stifel Nicolaus boosted their target price on shares of Canadian National Railway from $74.00 to $79.00 and gave the stock a “hold” rating in a research report on Thursday, June 15th. Finally, Zacks Investment Research raised shares of Canadian National Railway from a “hold” rating to a “buy” rating and set a $93.00 target price on the stock in a research report on Tuesday, July 11th. Fourteen research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Canadian National Railway has a consensus rating of “Hold” and a consensus target price of $80.56.

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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.

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

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