Virtu Financial LLC Purchases Shares of 4,629 Canadian National Railway (NYSE:CNI)

Virtu Financial LLC purchased a new position in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 4,629 shares of the transportation company’s stock, valued at approximately $470,000.

Several other institutional investors and hedge funds have also made changes to their positions in CNI. Commerce Bank boosted its holdings in Canadian National Railway by 8.9% in the third quarter. Commerce Bank now owns 5,278 shares of the transportation company’s stock valued at $618,000 after purchasing an additional 431 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in Canadian National Railway by 41.8% during the third quarter. Advisors Asset Management Inc. now owns 9,644 shares of the transportation company’s stock worth $1,130,000 after purchasing an additional 2,845 shares in the last quarter. Raymond James Trust N.A. purchased a new stake in shares of Canadian National Railway during the 3rd quarter worth approximately $261,000. Citigroup Inc. boosted its holdings in shares of Canadian National Railway by 3.4% in the 3rd quarter. Citigroup Inc. now owns 114,124 shares of the transportation company’s stock valued at $13,379,000 after buying an additional 3,774 shares in the last quarter. Finally, Cerity Partners LLC grew its position in shares of Canadian National Railway by 25.1% in the 3rd quarter. Cerity Partners LLC now owns 123,445 shares of the transportation company’s stock valued at $14,462,000 after buying an additional 24,753 shares during the last quarter. 80.74% of the stock is owned by institutional investors and hedge funds.

Canadian National Railway Stock Down 0.3 %

Shares of NYSE:CNI opened at $98.43 on Wednesday. Canadian National Railway has a fifty-two week low of $93.64 and a fifty-two week high of $132.73. The company has a quick ratio of 0.48, a current ratio of 0.66 and a debt-to-equity ratio of 0.94. The firm’s 50-day simple moving average is $101.21 and its 200-day simple moving average is $106.88. The company has a market cap of $61.85 billion, a price-to-earnings ratio of 19.22, a PEG ratio of 1.95 and a beta of 0.91.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings data 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 net margin of 26.09% and a return on equity of 22.48%. As a group, equities research analysts predict that Canadian National Railway will post 5.52 earnings per share for the current year.

Canadian National Railway Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be issued a dividend of $0.6159 per share. This represents a $2.46 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date is Monday, March 10th. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.61. Canadian National Railway’s dividend payout ratio is currently 47.66%.

Analysts Set New Price Targets

Several research firms have issued reports on CNI. Royal Bank of Canada decreased their price objective on shares of Canadian National Railway from $174.00 to $171.00 and set an “outperform” rating for the company in a research note on Friday, January 31st. Barclays decreased their target price on Canadian National Railway from $121.00 to $112.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Bank of America cut their price target on Canadian National Railway from $119.00 to $112.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. JPMorgan Chase & Co. raised Canadian National Railway from a “neutral” rating to an “overweight” rating in a report on Tuesday, January 7th. Finally, Evercore ISI upgraded shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research report on Thursday, December 19th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $124.19.

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.