Hemenway Trust Co LLC Boosts Stake in Canadian National Railway Company (CNI)

Hemenway Trust Co LLC raised its position in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 3.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 184,667 shares of the transportation company’s stock after buying an additional 6,192 shares during the period. Canadian National Railway makes up 3.3% of Hemenway Trust Co LLC’s portfolio, making the stock its 6th largest position. Hemenway Trust Co LLC’s holdings in Canadian National Railway were worth $14,967,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. LVM Capital Management Ltd. MI raised its stake in Canadian National Railway by 0.5% in the first quarter. LVM Capital Management Ltd. MI now owns 8,534 shares of the transportation company’s stock worth $631,000 after buying an additional 40 shares during the last quarter. Atria Investments LLC raised its stake in Canadian National Railway by 0.7% in the second quarter. Atria Investments LLC now owns 6,121 shares of the transportation company’s stock worth $496,000 after buying an additional 41 shares during the last quarter. First National Bank of Hutchinson raised its stake in Canadian National Railway by 0.5% in the first quarter. First National Bank of Hutchinson now owns 9,656 shares of the transportation company’s stock worth $714,000 after buying an additional 48 shares during the last quarter. Quadrant Capital Group LLC raised its stake in Canadian National Railway by 3.4% in the first quarter. Quadrant Capital Group LLC now owns 2,844 shares of the transportation company’s stock worth $200,000 after buying an additional 93 shares during the last quarter. Finally, Osborn Williams & Donohoe LLC raised its stake in Canadian National Railway by 0.7% in the first quarter. Osborn Williams & Donohoe LLC now owns 14,100 shares of the transportation company’s stock worth $1,042,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 55.56% of the company’s stock.

Shares of Canadian National Railway Company (NYSE:CNI) traded down 0.41% during midday trading on Friday, hitting $79.50. The company had a trading volume of 1,517,779 shares. The stock’s 50-day moving average price is $80.99 and its 200-day moving average price is $75.94. The company has a market cap of $59.70 billion, a price-to-earnings ratio of 19.62 and a beta of 1.11. Canadian National Railway Company has a 12 month low of $61.11 and a 12 month high of $84.48.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 8th will be issued a $0.3276 dividend. This represents a $1.31 dividend on an annualized basis and a dividend yield of 1.65%. This is an increase 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 31.77%.

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A number of research firms recently weighed in on CNI. Stifel Nicolaus upped their target price on shares of Canadian National Railway from $73.00 to $74.00 and gave the stock a “hold” rating in a research note on Tuesday, April 25th. BidaskClub upgraded shares of Canadian National Railway from a “sell” rating to a “hold” rating in a research note on Wednesday. Barclays PLC reiterated an “equal weight” rating and issued a $81.00 price target (up from $69.00) on shares of Canadian National Railway in a research note on Wednesday, May 17th. Zacks Investment Research upgraded shares of Canadian National Railway from a “hold” rating to a “buy” rating and set a $93.00 price target on the stock in a research note on Tuesday, July 11th. Finally, Credit Suisse Group reiterated a “neutral” rating on shares of Canadian National Railway in a research note on Friday, July 28th. Fourteen analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target 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.

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

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