Renaissance Technologies LLC Has $47.61 Million Stock Holdings in Canadian National Railway (NYSE:CNI)

Renaissance Technologies LLC trimmed its position in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 30.7% in the 2nd quarter, Holdings Channel.com reports. The fund owned 514,600 shares of the transportation company’s stock after selling 228,200 shares during the quarter. Renaissance Technologies LLC’s holdings in Canadian National Railway were worth $47,608,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Smith Moore & CO. lifted its position in shares of Canadian National Railway by 1.6% in the first quarter. Smith Moore & CO. now owns 7,082 shares of the transportation company’s stock worth $634,000 after buying an additional 112 shares during the last quarter. Regentatlantic Capital LLC grew its stake in Canadian National Railway by 2.6% in the 2nd quarter. Regentatlantic Capital LLC now owns 4,746 shares of the transportation company’s stock valued at $439,000 after buying an additional 120 shares during the last quarter. Cornerstone Advisors Inc. grew its stake in Canadian National Railway by 8.2% in the 2nd quarter. Cornerstone Advisors Inc. now owns 1,607 shares of the transportation company’s stock valued at $149,000 after buying an additional 122 shares during the last quarter. Cetera Investment Advisers grew its stake in Canadian National Railway by 2.1% in the 2nd quarter. Cetera Investment Advisers now owns 6,251 shares of the transportation company’s stock valued at $574,000 after buying an additional 130 shares during the last quarter. Finally, Confluence Investment Management LLC raised its holdings in Canadian National Railway by 1.2% in the 2nd quarter. Confluence Investment Management LLC now owns 11,825 shares of the transportation company’s stock worth $1,094,000 after acquiring an additional 139 shares during the period. 53.10% of the stock is owned by hedge funds and other institutional investors.

CNI has been the subject of a number of recent analyst reports. Credit Suisse Group upped their price target on shares of Canadian National Railway from $101.00 to $104.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. ValuEngine downgraded Canadian National Railway from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Goldman Sachs Group started coverage on Canadian National Railway in a research note on Wednesday, July 10th. They issued a “neutral” rating and a $97.00 price objective on the stock. Ten analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Canadian National Railway presently has a consensus rating of “Hold” and a consensus target price of $98.78.

NYSE:CNI traded down $1.66 during trading hours on Wednesday, hitting $91.50. 28,855 shares of the company traded hands, compared to its average volume of 668,918. The stock has a market capitalization of $67.24 billion, a price-to-earnings ratio of 21.94, a P/E/G ratio of 1.42 and a beta of 1.02. Canadian National Railway has a twelve month low of $70.36 and a twelve month high of $96.49. The firm has a 50-day moving average of $92.65 and a 200 day moving average of $91.39. The company has a current ratio of 0.69, a quick ratio of 0.54 and a debt-to-equity ratio of 0.66.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings results on Tuesday, July 23rd. The transportation company reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.47. The firm had revenue of $3.96 billion during the quarter, compared to the consensus estimate of $3.94 billion. Canadian National Railway had a net margin of 29.50% and a return on equity of 24.15%. The business’s revenue was up 9.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.51 EPS. Equities research analysts predict that Canadian National Railway will post 4.7 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 9th will be given a dividend of $0.411 per share. The ex-dividend date is Friday, September 6th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 1.80%. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.40. Canadian National Railway’s dividend payout ratio is currently 38.94%.

Canadian National Railway Company Profile

Canadian National Railway Company engages in rail and related transportation business. The company transports cargo serving exporters, importers, retailers, farmers, and manufacturers. It operates a network of approximately 20,000 route miles of track spans Canada and mid-America connecting the Atlantic, the Pacific, and the Gulf of Mexico.

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Institutional Ownership by Quarter for Canadian National Railway (NYSE:CNI)

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