Capital Group Private Client Services Inc. Purchases 3,476 Shares of Canadian National Railway (NYSE:CNI)

Capital Group Private Client Services Inc. grew its position in shares of Canadian National Railway (NYSE:CNIGet Rating) (TSE:CNR) by 11.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 33,865 shares of the transportation company’s stock after purchasing an additional 3,476 shares during the quarter. Capital Group Private Client Services Inc.’s holdings in Canadian National Railway were worth $4,549,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in CNI. Invesco Ltd. increased its stake in shares of Canadian National Railway by 15.1% in the 1st quarter. Invesco Ltd. now owns 476,548 shares of the transportation company’s stock valued at $63,924,000 after acquiring an additional 62,346 shares in the last quarter. Achmea Investment Management B.V. increased its stake in shares of Canadian National Railway by 387.6% in the 1st quarter. Achmea Investment Management B.V. now owns 45,968 shares of the transportation company’s stock valued at $6,172,000 after acquiring an additional 36,541 shares in the last quarter. Clark Capital Management Group Inc. bought a new stake in shares of Canadian National Railway in the 1st quarter valued at $38,435,000. UBS Group AG increased its stake in shares of Canadian National Railway by 12.9% in the 1st quarter. UBS Group AG now owns 392,797 shares of the transportation company’s stock valued at $52,690,000 after acquiring an additional 44,739 shares in the last quarter. Finally, Williams Jones Wealth Management LLC. increased its stake in shares of Canadian National Railway by 147.5% in the 1st quarter. Williams Jones Wealth Management LLC. now owns 7,718 shares of the transportation company’s stock valued at $1,035,000 after acquiring an additional 4,600 shares in the last quarter. Institutional investors own 79.45% of the company’s stock.

Canadian National Railway Trading Up 2.2 %

Shares of CNI opened at $122.01 on Monday. The business’s 50-day moving average price is $120.41 and its 200-day moving average price is $120.25. Canadian National Railway has a twelve month low of $106.61 and a twelve month high of $137.19. The stock has a market cap of $83.52 billion, a PE ratio of 21.22, a P/E/G ratio of 1.90 and a beta of 0.86. The company has a quick ratio of 0.55, a current ratio of 0.71 and a debt-to-equity ratio of 0.55.

Canadian National Railway Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Thursday, September 8th will be given a dividend of $0.569 per share. This represents a $2.28 annualized dividend and a dividend yield of 1.87%. The ex-dividend date is Wednesday, September 7th. Canadian National Railway’s dividend payout ratio is presently 39.65%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CNI. Stifel Nicolaus lifted their price objective on shares of Canadian National Railway from $113.00 to $119.00 in a research note on Wednesday, July 27th. Susquehanna lowered their price objective on shares of Canadian National Railway from $137.00 to $127.00 in a research note on Wednesday, July 6th. BMO Capital Markets upgraded shares of Canadian National Railway from a “market perform” rating to an “outperform” rating and set a $170.00 price objective for the company in a research note on Wednesday, May 18th. Stephens lifted their price target on shares of Canadian National Railway to $130.00 and gave the company an “outperform” rating in a research report on Wednesday, July 27th. Finally, StockNews.com raised shares of Canadian National Railway from a “hold” rating to a “buy” rating in a research report on Wednesday, July 27th. Thirteen research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $141.63.

About Canadian National Railway

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Canadian National Railway Company, together with its subsidiaries, engages in the rail and related transportation business. The company's portfolio of goods includes petroleum and chemicals, grain and fertilizers, coal, metals and minerals, forest products, intermodal, and automotive products serving exporters, importers, retailers, farmers, and manufacturers.

Further Reading

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

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