WCM Investment Management CA Grows Position in Canadian National Railway Company (CNI)

WCM Investment Management CA increased its holdings in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 9.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 794,834 shares of the transportation company’s stock after acquiring an additional 70,641 shares during the quarter. Canadian National Railway makes up about 0.8% of WCM Investment Management CA’s investment portfolio, making the stock its 17th largest position. WCM Investment Management CA owned approximately 0.11% of Canadian National Railway worth $65,852,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Hall Laurie J Trustee lifted its stake in Canadian National Railway by 4.1% in the second quarter. Hall Laurie J Trustee now owns 1,275 shares of the transportation company’s stock worth $103,000 after acquiring an additional 50 shares during the period. Bronfman E.L. Rothschild L.P. lifted its stake in Canadian National Railway by 0.9% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,416 shares of the transportation company’s stock worth $115,000 after acquiring an additional 12 shares during the period. UBS Asset Management Americas Inc. purchased a new stake in Canadian National Railway in the first quarter worth about $123,000. Proficio Capital Partners LLC lifted its stake in Canadian National Railway by 0.8% in the second quarter. Proficio Capital Partners LLC now owns 1,783 shares of the transportation company’s stock worth $143,000 after acquiring an additional 15 shares during the period. Finally, Nikko Asset Management Americas Inc. purchased a new stake in Canadian National Railway in the second quarter worth about $146,000. 54.42% of the stock is owned by institutional investors.

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Shares of Canadian National Railway Company (NYSE CNI) traded down $0.67 during trading on Tuesday, hitting $80.33. 784,800 shares of the company traded hands, compared to its average volume of 1,056,991. The stock has a market cap of $60,434.10, a price-to-earnings ratio of 20.98, a P/E/G ratio of 2.18 and a beta of 1.11. The company has a quick ratio of 0.49, a current ratio of 0.61 and a debt-to-equity ratio of 0.58. Canadian National Railway Company has a 52-week low of $62.97 and a 52-week high of $84.48.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 8th will be given a $0.3304 dividend. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.33. This represents a $1.32 annualized dividend and a dividend yield of 1.65%. The ex-dividend date of this dividend is Thursday, December 7th. Canadian National Railway’s dividend payout ratio (DPR) is presently 33.85%.

Canadian National Railway declared that its Board of Directors has approved a stock buyback plan on Tuesday, October 24th that authorizes the company to repurchase 31,000,000 shares. This repurchase authorization authorizes the transportation company to repurchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

CNI has been the subject of a number of research reports. Zacks Investment Research lowered shares of Canadian National Railway from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Deutsche Bank AG initiated coverage on shares of Canadian National Railway in a research report on Wednesday, November 1st. They set a “sell” rating and a $73.00 price target for the company. Royal Bank Of Canada reissued an “outperform” rating on shares of Canadian National Railway in a research report on Wednesday, October 25th. CIBC raised shares of Canadian National Railway from a “neutral” rating to a “sector outperform” rating in a research report on Wednesday, November 8th. Finally, BidaskClub lowered shares of Canadian National Railway from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $79.67.

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.

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

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