Sowell Financial Services LLC purchased a new position in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,503 shares of the transportation company’s stock, valued at approximately $200,000.

Other large investors have also modified their holdings of the company. Arrowstreet Capital Limited Partnership grew its position in shares of Canadian National Railway by 363.0% during the second quarter. Arrowstreet Capital Limited Partnership now owns 5,913,974 shares of the transportation company’s stock worth $479,249,000 after buying an additional 4,636,737 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Canadian National Railway by 15.5% during the second quarter. Vanguard Group Inc. now owns 16,793,837 shares of the transportation company’s stock worth $1,361,140,000 after buying an additional 2,251,612 shares in the last quarter. William Blair Investment Management LLC grew its position in shares of Canadian National Railway by 34.7% during the second quarter. William Blair Investment Management LLC now owns 4,474,642 shares of the transportation company’s stock worth $362,542,000 after buying an additional 1,152,495 shares in the last quarter. TD Asset Management Inc. grew its position in shares of Canadian National Railway by 4.1% during the second quarter. TD Asset Management Inc. now owns 18,836,822 shares of the transportation company’s stock worth $1,526,012,000 after buying an additional 740,664 shares in the last quarter. Finally, APG Asset Management N.V. grew its position in shares of Canadian National Railway by 50.6% during the third quarter. APG Asset Management N.V. now owns 1,720,175 shares of the transportation company’s stock worth $142,193,000 after buying an additional 578,200 shares in the last quarter. Institutional investors own 54.42% of the company’s stock.

A number of equities analysts have recently commented on CNI shares. Zacks Investment Research raised Canadian National Railway from a “sell” rating to a “hold” rating in a research report on Monday, November 6th. Raymond James Financial, Inc. downgraded Canadian National Railway from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 25th. Desjardins raised Canadian National Railway from a “hold” rating to a “buy” rating in a report on Wednesday, October 25th. Deutsche Bank AG initiated coverage on Canadian National Railway in a report on Wednesday, November 1st. They issued a “sell” rating and a $73.00 price target for the company. Finally, Credit Suisse Group reaffirmed a “neutral” rating on shares of Canadian National Railway in a report on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the company. Canadian National Railway currently has a consensus rating of “Hold” and a consensus target price of $79.67.

Canadian National Railway Company (CNI) traded down $0.24 during mid-day trading on Friday, hitting $79.77. The stock had a trading volume of 677,351 shares, compared to its average volume of 1,051,335. The firm has a market capitalization of $59,910.00, a P/E ratio of 20.77, a P/E/G ratio of 2.16 and a beta of 1.11. Canadian National Railway Company has a 1-year low of $63.71 and a 1-year high of $84.48. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.61 and a quick ratio of 0.49.

Canadian National Railway announced that its board has approved a stock buyback program on Tuesday, October 24th that authorizes the company to buyback 31,000,000 shares. This buyback authorization authorizes the transportation company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 8th will be issued a $0.3304 dividend. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.33. This represents a $1.32 annualized dividend and a dividend yield of 1.66%. The ex-dividend date of this dividend is Thursday, December 7th. Canadian National Railway’s dividend payout ratio is presently 33.00%.

TRADEMARK VIOLATION NOTICE: This article was originally published by TheOlympiaReport and is owned by of TheOlympiaReport. If you are viewing this article on another domain, it was copied illegally and republished in violation of international trademark & copyright legislation. The original version of this article can be accessed at https://theolympiareport.com/2017/11/18/2503-shares-in-canadian-national-railway-company-cni-purchased-by-sowell-financial-services-llc.html.

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.

Want to see what other hedge funds are holding CNI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Canadian National Railway Company (NYSE:CNI) (TSE:CNR).

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

Receive News & Ratings for Canadian National Railway Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canadian National Railway Company and related companies with Analyst Ratings Network's FREE daily email newsletter.