Canadian National Railway (NYSE:CNI) Shares Acquired by Renaissance Technologies LLC

by · The Cerbat Gem

Renaissance Technologies LLC increased its position in Canadian National Railway (NYSE:CNI – Free Report) (TSE:CNR) by 11.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 659,100 shares of the transportation company’s stock after buying an additional 68,500 shares during the quarter. Renaissance Technologies LLC owned about 0.10% of Canadian National Railway worth $79,813,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Optiver Holding B.V. purchased a new stake in shares of Canadian National Railway during the second quarter valued at $32,000. ICA Group Wealth Management LLC acquired a new position in shares of Canadian National Railway in the 4th quarter valued at $53,000. Global Retirement Partners LLC boosted its position in shares of Canadian National Railway by 64.4% in the 1st quarter. Global Retirement Partners LLC now owns 518 shares of the transportation company’s stock valued at $61,000 after purchasing an additional 203 shares during the period. Thomas J. Herzfeld Advisors Inc. boosted its position in shares of Canadian National Railway by 93.5% in the 1st quarter. Thomas J. Herzfeld Advisors Inc. now owns 565 shares of the transportation company’s stock valued at $67,000 after purchasing an additional 273 shares during the period. Finally, Massmutual Trust Co. FSB ADV boosted its position in shares of Canadian National Railway by 33.7% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 623 shares of the transportation company’s stock valued at $75,000 after purchasing an additional 157 shares during the period. Institutional investors and hedge funds own 67.60% of the company’s stock.

Canadian National Railway Stock Performance

Shares of NYSE CNI opened at $116.06 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.72 and a debt-to-equity ratio of 0.81. The business’s 50 day moving average is $109.70 and its two-hundred day moving average is $113.81. The company has a market cap of $75.26 billion, a P/E ratio of 21.22, a P/E/G ratio of 3.15 and a beta of 0.91. Canadian National Railway has a 12 month low of $103.96 and a 12 month high of $129.89.

Canadian National Railway (NYSE:CNI – Get Free Report) (TSE:CNR) last announced its quarterly earnings data on Tuesday, October 24th. The transportation company reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.29 by ($0.03). Canadian National Railway had a return on equity of 23.53% and a net margin of 29.08%. The firm had revenue of $2.97 billion for the quarter, compared to analyst estimates of $3.01 billion. On average, equities analysts expect that Canadian National Railway will post 5.32 EPS for the current year.

Canadian National Railway Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Thursday, December 7th will be issued a dividend of $0.5811 per share. This represents a $2.32 annualized dividend and a dividend yield of 2.00%. The ex-dividend date is Wednesday, December 6th. Canadian National Railway’s payout ratio is presently 42.41%.

Analysts Set New Price Targets

A number of brokerages have commented on CNI. Deutsche Bank Aktiengesellschaft lowered Canadian National Railway from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $125.00 to $121.00 in a research report on Monday. National Bank Financial decreased their price objective on Canadian National Railway from C$171.00 to C$168.00 in a research report on Wednesday, October 4th. CIBC reduced their price target on Canadian National Railway from C$175.00 to C$173.00 and set an “outperformer” rating for the company in a report on Thursday, September 21st. Bank of America lowered Canadian National Railway from a “buy” rating to a “neutral” rating and reduced their price target for the company from $131.00 to $115.00 in a report on Thursday, October 5th. Finally, Barclays lifted their price target on Canadian National Railway from $109.00 to $113.00 and gave the company an “equal weight” rating in a report on Wednesday, October 25th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Canadian National Railway has an average rating of “Hold” and an average target price of $143.00.

Get Our Latest Stock Report on Canadian National Railway

Canadian National Railway Profile

(Free Report)

Canadian National Railway Company, together with its subsidiaries, engages in rail and related transportation business. The company offers rail services, which include equipment, custom brokage services, transloading and distribution, business development and real estate, and private car storage services; and intermodal services including temperature controlled cargo, port partnership, transloading and distribution, logistic parks, customs brokerage, trucking, and moving grains in containers.

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