Canadian National Railway Company $CNI Position Cut by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. decreased its position in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 50.5% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 4,362 shares of the transportation company’s stock after selling 4,442 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Canadian National Railway were worth $519,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Park Avenue Securities LLC increased its holdings in shares of Canadian National Railway by 19.0% in the 3rd quarter. Park Avenue Securities LLC now owns 8,902 shares of the transportation company’s stock worth $1,059,000 after acquiring an additional 1,419 shares during the period. Viewpoint Investment Partners Corp lifted its position in Canadian National Railway by 19.6% in the 3rd quarter. Viewpoint Investment Partners Corp now owns 21,331 shares of the transportation company’s stock valued at $2,535,000 after purchasing an additional 3,500 shares during the last quarter. Norris Perne & French LLP MI acquired a new position in Canadian National Railway during the 3rd quarter valued at about $218,000. Signaturefd LLC boosted its stake in Canadian National Railway by 4.1% during the 3rd quarter. Signaturefd LLC now owns 8,687 shares of the transportation company’s stock valued at $1,033,000 after purchasing an additional 339 shares during the period. Finally, Lorne Steinberg Wealth Management Inc. boosted its stake in Canadian National Railway by 3.0% during the 3rd quarter. Lorne Steinberg Wealth Management Inc. now owns 122,009 shares of the transportation company’s stock valued at $14,522,000 after purchasing an additional 3,529 shares during the period. Institutional investors and hedge funds own 80.74% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on CNI shares. Wells Fargo & Company upped their target price on shares of Canadian National Railway from $135.00 to $145.00 and gave the stock an “overweight” rating in a research report on Monday, July 27th. Bank of America cut their price target on Canadian National Railway from $146.00 to $143.00 and set a “buy” rating on the stock in a report on Wednesday, September 23rd. Citigroup boosted their price objective on Canadian National Railway from $143.00 to $145.00 and gave the stock a “buy” rating in a research report on Monday. Susquehanna boosted their price objective on Canadian National Railway from $130.00 to $140.00 and gave the stock a “neutral” rating in a research report on Tuesday. Finally, Citizens Jmp initiated coverage on Canadian National Railway in a report on Wednesday, July 15th. They issued a “market perform” rating for the company. Nine equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $138.76.

Canadian National Railway Price Performance

Shares of CNI opened at $126.51 on Friday. The firm has a market capitalization of $76.23 billion, a price-to-earnings ratio of 22.04, a price-to-earnings-growth ratio of 2.36 and a beta of 0.90. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.61 and a current ratio of 0.82. Canadian National Railway Company has a one year low of $90.74 and a one year high of $131.55. The stock’s fifty day moving average is $121.62 and its 200-day moving average is $115.91.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings data on Friday, October 30th. The transportation company reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.05. The business had revenue of $3.35 billion for the quarter, compared to analysts’ expectations of $3.27 billion. Canadian National Railway had a net margin of 26.42% and a return on equity of 22.82%. The company’s revenue was down 99.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.83 earnings per share. Equities analysts anticipate that Canadian National Railway Company will post 5.84 EPS for the current year.

Canadian National Railway Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 30th. Investors of record on Wednesday, December 9th will be given a C$0.92 dividend. This represents a $3.66 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Wednesday, December 9th. Canadian National Railway’s dividend payout ratio is currently 45.47%.

About Canadian National Railway

Canadian National Railway Company (NYSE: CNI) is a transportation and logistics company that operates a major freight railway network across Canada and the United States. The company provides rail, intermodal and related transportation services for shippers, connecting production and consumption centers with ports and distribution hubs.

CN transports a broad range of commodities and manufactured goods, including petroleum and chemicals, grain and fertilizers, forest products, metals and minerals, coal, automotive products and consumer goods.