Canadian National Railway Company (NYSE:CNI) Position Cut by Cypress Asset Management Inc. TX

Cypress Asset Management Inc. TX cut its position in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 20.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,785 shares of the transportation company’s stock after selling 7,175 shares during the period. Cypress Asset Management Inc. TX’s holdings in Canadian National Railway were worth $2,333,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP raised 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 in the last quarter. 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 worth $244,625,000 after buying an additional 1,165,992 shares during the last quarter. 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 worth $1,075,107,000 after buying an additional 493,026 shares during the last quarter. 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 worth $259,230,000 after buying an additional 472,909 shares during the last quarter. Finally, Brookfield Asset Management Inc. acquired a new stake in shares of Canadian National Railway during the fourth quarter worth about $17,710,000. Institutional investors own 55.30% of the company’s stock.

Canadian National Railway Company (NYSE:CNI) traded up 0.59% during mid-day trading on Friday, reaching $79.50. The company’s stock had a trading volume of 1,220,340 shares. The company has a market capitalization of $59.70 billion, a PE ratio of 19.62 and a beta of 1.11. Canadian National Railway Company has a 1-year low of $61.11 and a 1-year high of $84.48. The firm has a 50 day moving average price of $81.16 and a 200-day moving average price of $75.59.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 8th will be given a dividend of $0.3276 per share. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.31. The ex-dividend date is Thursday, September 7th. This represents a $1.31 annualized dividend and a dividend yield of 1.65%. Canadian National Railway’s payout ratio is presently 31.77%.

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Several equities analysts have weighed in on the company. 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 research report on Thursday, July 13th. They noted that the move was a valuation call. 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 research report on Wednesday, May 17th. BidaskClub downgraded Canadian National Railway from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Cowen and Company lifted their price objective on Canadian National Railway from $77.00 to $81.00 and gave the company an “outperform” rating in a research note on Tuesday, April 25th. Finally, Stifel Nicolaus lifted their price objective on Canadian National Railway from $73.00 to $74.00 and gave the company a “hold” rating in a research note on Tuesday, April 25th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and seven have given a buy rating to the company. Canadian National Railway 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.

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

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