William Blair Investment Management LLC Has $244.63 Million Holding in Canadian National Railway (CNI)

William Blair Investment Management LLC Has $244.63 Million Holding in Canadian National Railway (CNI)

William Blair Investment Management LLC boosted its position in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 54.1% during the first quarter, Holdings Channel reports. The firm owned 3,322,147 shares of the transportation company’s stock after buying an additional 1,165,992 shares during the period. Canadian National Railway makes up approximately 0.9% of William Blair Investment Management LLC’s investment portfolio, making the stock its 27th largest position. William Blair Investment Management LLC’s holdings in Canadian National Railway were worth $244,625,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of CNI. WMS Partners LLC raised its position in shares of Canadian National Railway by 0.5% in the third quarter. WMS Partners LLC now owns 18,412 shares of the transportation company’s stock worth $1,204,000 after buying an additional 88 shares during the period. ProVise Management Group LLC raised its position in shares of Canadian National Railway by 33.3% in the third quarter. ProVise Management Group LLC now owns 6,802 shares of the transportation company’s stock worth $445,000 after buying an additional 1,700 shares during the period. Fagan Associates Inc. raised its position in shares of Canadian National Railway by 2.2% in the third quarter. Fagan Associates Inc. now owns 6,835 shares of the transportation company’s stock worth $447,000 after buying an additional 150 shares during the period. RiverPoint Capital Management LLC raised its position in shares of Canadian National Railway by 1.2% in the third quarter. RiverPoint Capital Management LLC now owns 278,902 shares of the transportation company’s stock worth $18,240,000 after buying an additional 3,351 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Canadian National Railway by 15.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 756,923 shares of the transportation company’s stock worth $49,392,000 after buying an additional 101,713 shares during the period. 55.16% of the stock is currently owned by institutional investors.

Shares of Canadian National Railway (NYSE CNI) traded down 0.197% during midday trading on Friday, reaching $78.425. 356,645 shares of the company’s stock traded hands. The stock has a market capitalization of $59.30 billion, a P/E ratio of 22.073 and a beta of 1.07. Canadian National Railway has a 1-year low of $55.73 and a 1-year high of $79.01. The firm’s 50-day moving average price is $74.61 and its 200 day moving average price is $71.06.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, June 9th will be paid a dividend of $0.3059 per share. This represents a $1.22 annualized dividend and a yield of 1.56%. The ex-dividend date is Wednesday, June 7th. Canadian National Railway’s payout ratio is currently 31.73%.

A number of brokerages have recently commented on CNI. Loop Capital reaffirmed a “hold” rating on shares of Canadian National Railway in a research report on Saturday, March 25th. Credit Suisse Group AG reaffirmed a “neutral” rating and set a $72.00 target price (up from $70.00) on shares of Canadian National Railway in a research report on Monday, March 6th. Barclays PLC reaffirmed an “equal weight” rating and set a $81.00 target price (up from $69.00) on shares of Canadian National Railway in a research report on Wednesday, May 17th. Zacks Investment Research lowered shares of Canadian National Railway from a “buy” rating to a “hold” rating in a research report on Thursday, February 23rd. Finally, Scotiabank raised shares of Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research report on Friday, March 3rd. Fifteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Canadian National Railway presently has an average rating of “Hold” and a consensus price target of $80.06.

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “CNI”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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 (NYSE:CNI) (TSE:CNR).

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