Virtu Financial LLC Invests $816,000 in Canadian National Railway (NYSE:CNI)

Virtu Financial LLC purchased a new stake in Canadian National Railway (NYSE:CNI) (TSE:CNR) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 6,494 shares of the transportation company’s stock, valued at approximately $816,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wells Fargo & Company MN boosted its stake in shares of Canadian National Railway by 61.1% in the 4th quarter. Wells Fargo & Company MN now owns 162,179 shares of the transportation company’s stock valued at $20,375,000 after purchasing an additional 61,498 shares during the last quarter. YCG LLC grew its holdings in Canadian National Railway by 6.0% during the 4th quarter. YCG LLC now owns 250,085 shares of the transportation company’s stock worth $31,418,000 after acquiring an additional 14,249 shares during the period. TD Asset Management Inc grew its holdings in Canadian National Railway by 2.8% during the 4th quarter. TD Asset Management Inc now owns 11,651,919 shares of the transportation company’s stock worth $1,471,733,000 after acquiring an additional 314,600 shares during the period. Manning & Napier Group LLC raised its position in shares of Canadian National Railway by 7.5% during the 4th quarter. Manning & Napier Group LLC now owns 669,988 shares of the transportation company’s stock valued at $84,171,000 after acquiring an additional 46,517 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its stake in shares of Canadian National Railway by 30.5% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 40,965 shares of the transportation company’s stock valued at $5,146,000 after purchasing an additional 9,566 shares during the period. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Canadian National Railway Stock Performance

Shares of CNI stock traded up $0.14 during midday trading on Friday, hitting $121.84. 902,407 shares of the company were exchanged, compared to its average volume of 881,662. Canadian National Railway has a 52 week low of $103.96 and a 52 week high of $134.02. The firm has a market capitalization of $77.31 billion, a P/E ratio of 19.43, a PEG ratio of 2.14 and a beta of 0.90. The firm’s 50 day moving average price is $126.00 and its two-hundred day moving average price is $126.17. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.46 and a current ratio of 0.60.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings data on Tuesday, April 23rd. The transportation company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.01. Canadian National Railway had a net margin of 32.81% and a return on equity of 23.27%. The firm had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $3.16 billion. As a group, equities research analysts anticipate that Canadian National Railway will post 5.9 earnings per share for the current year.

Canadian National Railway Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be paid a $0.625 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $2.50 annualized dividend and a yield of 2.05%. Canadian National Railway’s dividend payout ratio (DPR) is presently 39.08%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Stifel Nicolaus lifted their price objective on Canadian National Railway from $121.00 to $134.00 and gave the stock a “hold” rating in a research note on Friday, April 12th. Wells Fargo & Company initiated coverage on Canadian National Railway in a research note on Friday, June 7th. They set an “equal weight” rating and a $130.00 price objective on the stock. Barclays increased their price target on Canadian National Railway from $127.00 to $130.00 and gave the stock an “equal weight” rating in a report on Thursday, April 4th. Susquehanna raised their price objective on Canadian National Railway from $140.00 to $142.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Finally, StockNews.com lowered Canadian National Railway from a “buy” rating to a “hold” rating in a research report on Wednesday, May 22nd. Eighteen equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $149.32.

About Canadian National Railway

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.