Verition Fund Management LLC Grows Stock Holdings in Canadian National Railway (NYSE:CNI)

Verition Fund Management LLC grew its position in Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR by 2,349.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund 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 filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Canadian National Railway in the second quarter valued at approximately $26,000. Addison Advisors LLC lifted its position in Canadian National Railway by 159.1% during the second 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 grew 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 buying an additional 229 shares in the last quarter. ORG Partners LLC bought a new position in shares of Canadian National Railway in the 2nd quarter worth $34,000. Finally, Coastline Trust Co purchased a new stake in shares of Canadian National Railway during the 3rd quarter valued at $34,000. Institutional investors own 80.74% of the company's stock.

Canadian National Railway Stock Down 1.7 %

CNI stock traded down $1.93 during midday trading on Tuesday, reaching $109.19. 1,218,451 shares of the company were exchanged, compared to its average volume of 1,125,798. The company has a market cap of $68.77 billion, a price-to-earnings ratio of 17.50, a price-to-earnings-growth ratio of 2.59 and a beta of 0.89. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.49 and a current ratio of 0.64. Canadian National Railway has a 1-year low of $105.28 and a 1-year high of $134.02. The stock's 50-day simple moving average is $112.10 and its 200 day simple moving average is $116.33.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last released its quarterly earnings data on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.02. The company had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.08 billion. Canadian National Railway had a net margin of 31.65% and a return on equity of 23.62%. Canadian National Railway's revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.26 earnings per share. On average, equities analysts forecast that Canadian National Railway will post 5.33 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. Shareholders of record on Monday, December 9th will be paid a $0.6108 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $2.44 dividend on an annualized basis and a yield of 2.24%. Canadian National Railway's dividend payout ratio is presently 39.26%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Sanford C. Bernstein cut their price objective on Canadian National Railway from $130.67 to $126.29 and set a "market perform" rating for the company in a report on Wednesday, October 9th. Barclays upped their price objective on shares of Canadian National Railway from $120.00 to $121.00 and gave the stock an "equal weight" rating in a report on Wednesday, September 25th. Royal Bank of Canada upgraded shares of Canadian National Railway from a "sector perform" rating to an "outperform" rating in a research note on Thursday, October 10th. Evercore ISI cut their price objective on shares of Canadian National Railway from $119.00 to $116.00 and set an "in-line" rating on the stock in a report on Wednesday, October 23rd. Finally, Stifel Nicolaus increased their price objective on shares of Canadian National Railway from $130.00 to $132.00 and gave the company a "hold" rating in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, four have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $125.86.

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.