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

Renaissance Technologies LLC increased its holdings in shares of Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR by 501.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 352,900 shares of the transportation company's stock after acquiring an additional 294,200 shares during the period. Renaissance Technologies LLC owned about 0.06% of Canadian National Railway worth $35,823,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Quintet Private Bank Europe S.A. purchased a new stake in shares of Canadian National Railway during the fourth quarter valued at $25,000. Arlington Trust Co LLC purchased a new stake in Canadian National Railway in the 4th quarter valued at about $30,000. Lee Danner & Bass Inc. bought a new position in Canadian National Railway in the 4th quarter worth about $30,000. Addison Advisors LLC increased its position in shares of Canadian National Railway by 80.2% during the fourth quarter. Addison Advisors LLC now owns 319 shares of the transportation company's stock worth $32,000 after acquiring an additional 142 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of Canadian National Railway by 48.2% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 332 shares of the transportation company's stock valued at $34,000 after acquiring an additional 108 shares in the last quarter. Hedge funds and other institutional investors own 80.74% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on CNI. Jefferies Financial Group dropped their price objective on Canadian National Railway from $120.00 to $110.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Loop Capital lowered Canadian National Railway from a "hold" rating to a "sell" rating in a research note on Monday, February 3rd. Royal Bank of Canada decreased their price objective on Canadian National Railway from $174.00 to $171.00 and set an "outperform" rating for the company in a report on Friday, January 31st. JPMorgan Chase & Co. upgraded shares of Canadian National Railway from a "neutral" rating to an "overweight" rating in a report on Tuesday, January 7th. Finally, Barclays reduced their price target on shares of Canadian National Railway from $112.00 to $104.00 and set an "equal weight" rating for the company in a report on Wednesday, April 2nd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, Canadian National Railway currently has an average rating of "Moderate Buy" and a consensus target price of $120.36.

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Canadian National Railway Stock Up 0.3 %

CNI stock traded up $0.30 on Wednesday, hitting $98.76. 1,349,811 shares of the company's stock were exchanged, compared to its average volume of 1,278,573. The firm has a 50 day moving average price of $99.19 and a two-hundred day moving average price of $104.66. Canadian National Railway has a 12-month low of $91.65 and a 12-month high of $130.63. The stock has a market cap of $62.07 billion, a P/E ratio of 19.29, a price-to-earnings-growth ratio of 1.95 and a beta of 0.93. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.48 and a current ratio of 0.66.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last issued its quarterly earnings results on Thursday, January 30th. The transportation company reported $1.30 earnings per share for the quarter, missing analysts' consensus estimates of $1.39 by ($0.09). Canadian National Railway had a return on equity of 22.48% and a net margin of 26.09%. As a group, equities research analysts expect that Canadian National Railway will post 5.52 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were issued a dividend of $0.6159 per share. The ex-dividend date was Monday, March 10th. This is a positive change from Canadian National Railway's previous quarterly dividend of $0.61. This represents a $2.46 dividend on an annualized basis and a dividend yield of 2.49%. Canadian National Railway's payout ratio is 47.66%.

Canadian National Railway 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.