Canadian National Railway (NYSE:CNI) Shares Acquired by Verition Fund Management LLC

Verition Fund Management LLC grew its holdings in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 2,349.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 51,613 shares of the transportation company’s stock after purchasing an additional 49,506 shares during the quarter. Verition Fund Management LLC’s holdings in Canadian National Railway were worth $6,046,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Canadian National Railway in the second quarter valued at about $26,000. Addison Advisors LLC raised its position in shares of Canadian National Railway by 159.1% in the 2nd quarter. Addison Advisors LLC now owns 241 shares of the transportation company’s stock valued at $28,000 after purchasing an additional 148 shares during the last quarter. Fortitude Family Office LLC boosted its stake in Canadian National Railway by 738.7% in the 3rd quarter. Fortitude Family Office LLC now owns 260 shares of the transportation company’s stock worth $30,000 after purchasing an additional 229 shares in the last quarter. ORG Partners LLC purchased a new stake in Canadian National Railway during the 2nd quarter worth approximately $34,000. Finally, Coastline Trust Co acquired a new position in Canadian National Railway during the 3rd quarter valued at approximately $34,000. Institutional investors and hedge funds own 80.74% of the company’s stock.

Analyst Upgrades and Downgrades

CNI has been the topic of a number of research analyst reports. Sanford C. Bernstein dropped their price objective on shares of Canadian National Railway from $130.67 to $126.29 and set a “market perform” rating on the stock in a report on Wednesday, October 9th. Royal Bank of Canada upgraded Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. Wells Fargo & Company upgraded Canadian National Railway from an “equal weight” rating to an “overweight” rating and set a $125.00 price objective for the company in a research note on Monday, October 7th. Veritas upgraded Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 23rd. Finally, Benchmark reiterated a “hold” rating on shares of Canadian National Railway in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, four have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $125.86.

Canadian National Railway Stock Performance

Shares of NYSE CNI opened at $111.13 on Tuesday. Canadian National Railway has a 1 year low of $105.28 and a 1 year high of $134.02. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.49 and a current ratio of 0.64. The company’s fifty day moving average price is $112.39 and its 200 day moving average price is $116.57. The company has a market capitalization of $69.99 billion, a PE ratio of 17.81, a price-to-earnings-growth ratio of 2.52 and a beta of 0.89.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its earnings results on Tuesday, October 22nd. The transportation company reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.02. The firm had revenue of $4.11 billion for the quarter, compared to analysts’ expectations of $4.08 billion. Canadian National Railway had a return on equity of 23.62% and a net margin of 31.65%. The company’s quarterly revenue was up 3.1% on a year-over-year basis. During the same period last year, the firm earned $1.26 EPS. On average, research analysts predict that Canadian National Railway will post 5.49 earnings per share for the current year.

Canadian National Railway Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be given a $0.6108 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date is Monday, December 9th. Canadian National Railway’s dividend payout ratio (DPR) is presently 39.26%.

Canadian National Railway Company Profile

Canadian National Railway Company, together with its subsidiaries, engages in the rail, intermodal, trucking, and marine transportation and logistics business in Canada and the United States. The company provides rail services, which include equipment, custom brokerage services, transloading and distribution, business development and real estate, and private car storage services; and intermodal services, such as temperature controlled cargo, port partnerships, and logistics parks.