Verition Fund Management LLC Buys 31,613 Shares of Canadian National Railway (NYSE:CNI)

Verition Fund Management LLC lifted its stake in shares of Canadian National Railway (NYSE:CNIFree Report) (TSE:CNR) by 123.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 57,252 shares of the transportation company’s stock after acquiring an additional 31,613 shares during the quarter. Verition Fund Management LLC’s holdings in Canadian National Railway were worth $7,193,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in CNI. Rational Advisors LLC bought a new stake in shares of Canadian National Railway during the 3rd quarter worth about $41,000. Keener Financial Planning LLC bought a new stake in Canadian National Railway during the 4th quarter valued at approximately $46,000. Knuff & Co LLC bought a new stake in Canadian National Railway during the 4th quarter valued at approximately $50,000. Partnership Wealth Management LLC bought a new stake in Canadian National Railway during the 4th quarter valued at approximately $65,000. Finally, Northwest Financial Advisors bought a new stake in Canadian National Railway during the 4th quarter valued at approximately $71,000. Institutional investors own 80.74% of the company’s stock.

Canadian National Railway Trading Up 0.2 %

Shares of CNI opened at $124.31 on Tuesday. Canadian National Railway has a 1 year low of $103.96 and a 1 year high of $134.02. The company has a current ratio of 0.60, a quick ratio of 0.46 and a debt-to-equity ratio of 0.84. The stock has a 50 day simple moving average of $126.59 and a 200-day simple moving average of $126.00. The stock has a market cap of $79.15 billion, a PE ratio of 19.83, a PEG ratio of 2.18 and a beta of 0.90.

Canadian National Railway (NYSE:CNIGet Free Report) (TSE:CNR) last issued its earnings results on Tuesday, April 23rd. The transportation company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.01. Canadian National Railway had a return on equity of 23.27% and a net margin of 32.81%. The business had revenue of $3.15 billion during the quarter, compared to analysts’ expectations of $3.16 billion. On average, sell-side analysts predict that Canadian National Railway will post 5.9 EPS for the current fiscal year.

Canadian National Railway Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be issued a $0.625 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 2.01%. Canadian National Railway’s payout ratio is presently 39.08%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Wells Fargo & Company assumed coverage on Canadian National Railway in a research note on Friday. They set an “equal weight” rating and a $130.00 target price for the company. Susquehanna increased their target price on Canadian National Railway from $140.00 to $142.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Jefferies Financial Group assumed coverage on Canadian National Railway in a research note on Monday, April 8th. They set a “hold” rating and a $130.00 target price for the company. Stephens restated an “equal weight” rating and set a $140.00 target price on shares of Canadian National Railway in a research note on Wednesday, April 24th. Finally, Benchmark restated a “hold” rating on shares of Canadian National Railway in a research note on Wednesday, April 24th. Eighteen investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $149.32.

Check Out Our Latest Stock Analysis on CNI

Canadian National Railway Company Profile

(Free Report)

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.

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

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