Oppenheimer & Co. Inc. Cuts Stock Holdings in Canadian National Railway Company $CNI

Oppenheimer & Co. Inc. reduced its stake in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 51.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,615 shares of the transportation company’s stock after selling 11,328 shares during the period. Oppenheimer & Co. Inc.’s holdings in Canadian National Railway were worth $1,001,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CNI. AQR Capital Management LLC bought a new position in Canadian National Railway during the first quarter valued at approximately $311,000. Focus Partners Wealth lifted its position in Canadian National Railway by 11.1% during the first quarter. Focus Partners Wealth now owns 11,514 shares of the transportation company’s stock valued at $1,122,000 after purchasing an additional 1,146 shares during the last quarter. CWM LLC grew its stake in shares of Canadian National Railway by 56.5% in the 2nd quarter. CWM LLC now owns 13,353 shares of the transportation company’s stock worth $1,389,000 after buying an additional 4,823 shares in the last quarter. Yousif Capital Management LLC grew its stake in shares of Canadian National Railway by 9.2% in the 2nd quarter. Yousif Capital Management LLC now owns 6,226 shares of the transportation company’s stock worth $648,000 after buying an additional 525 shares in the last quarter. Finally, Sequoia Financial Advisors LLC raised its position in shares of Canadian National Railway by 54.5% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 6,939 shares of the transportation company’s stock valued at $722,000 after buying an additional 2,448 shares in the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Canadian National Railway Stock Up 0.2%

NYSE:CNI opened at $107.55 on Monday. The company has a market cap of $65.94 billion, a price-to-earnings ratio of 19.81, a price-to-earnings-growth ratio of 2.26 and a beta of 0.94. Canadian National Railway Company has a twelve month low of $90.74 and a twelve month high of $108.75. The company has a current ratio of 0.67, a quick ratio of 0.47 and a debt-to-equity ratio of 0.94. The stock has a fifty day simple moving average of $99.48 and a 200-day simple moving average of $96.46.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings data on Friday, January 30th. The transportation company reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.06. The company had revenue of $3.24 billion during the quarter, compared to analyst estimates of $4.43 billion. Canadian National Railway had a net margin of 27.28% and a return on equity of 22.14%. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter last year, the business posted $1.82 EPS. Analysts anticipate that Canadian National Railway Company will post 5.52 EPS for the current year.

Canadian National Railway Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 10th will be issued a $0.915 dividend. The ex-dividend date is Tuesday, March 10th. This represents a $3.66 annualized dividend and a dividend yield of 3.4%. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.89. Canadian National Railway’s dividend payout ratio (DPR) is currently 46.59%.

Analysts Set New Price Targets

CNI has been the topic of several analyst reports. Susquehanna boosted their price objective on Canadian National Railway from $115.00 to $116.00 and gave the stock a “positive” rating in a research note on Monday, November 3rd. Canadian Imperial Bank of Commerce upgraded Canadian National Railway from a “hold” rating to an “outperformer” rating and increased their price target for the company from $146.00 to $151.00 in a report on Friday, November 28th. Barclays dropped their price objective on shares of Canadian National Railway from $140.00 to $135.00 and set an “equal weight” rating for the company in a research note on Monday, February 2nd. BMO Capital Markets reissued an “outperform” rating on shares of Canadian National Railway in a research note on Monday, February 2nd. Finally, Vertical Research upgraded shares of Canadian National Railway from a “hold” rating to a “buy” rating in a report on Monday, January 5th. Ten investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, Canadian National Railway presently has an average rating of “Moderate Buy” and an average target price of $118.91.

Canadian National Railway Profile

Canadian National Railway Company (NYSE: CNI) is a Class I freight railway that operates an integrated rail network across Canada and the United States. Headquartered in Montreal, Quebec, CN provides long-haul freight transportation and related logistics services that connect major ports, industrial centers and inland markets throughout North America. Its transcontinental system enables cross-border movement of goods and supports supply chains that span coast-to-coast in Canada and into the central and eastern United States.

CN’s core business is the railborne transportation of a broad mix of commodities, including intermodal container traffic, forest and paper products, grain and other agricultural products, metallurgical and industrial products, petroleum and chemical products, coal and automotive shipments.