Canadian National Railway (NYSE:CNI) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lessened its holdings in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 1.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 15,371 shares of the transportation company’s stock after selling 160 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Canadian National Railway were worth $1,801,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Manning & Napier Advisors LLC purchased a new stake in Canadian National Railway during the 2nd quarter worth approximately $134,096,000. Sterling Investment Management LLC grew its holdings in shares of Canadian National Railway by 17.2% during the third quarter. Sterling Investment Management LLC now owns 36,279 shares of the transportation company’s stock valued at $4,250,000 after buying an additional 5,329 shares during the last quarter. Summit Global Investments acquired a new position in shares of Canadian National Railway in the 3rd quarter valued at $636,000. Sumitomo Life Insurance Co. purchased a new position in Canadian National Railway in the 2nd quarter worth $1,321,000. Finally, Fiera Capital Corp lifted its position in Canadian National Railway by 13.3% during the 2nd quarter. Fiera Capital Corp now owns 5,443,461 shares of the transportation company’s stock worth $643,503,000 after acquiring an additional 638,817 shares during the period. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Canadian National Railway Price Performance

Shares of NYSE CNI opened at $108.90 on Monday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.49 and a current ratio of 0.64. The firm has a fifty day moving average of $114.04 and a 200 day moving average of $117.68. The firm has a market cap of $68.58 billion, a PE ratio of 17.45, a PEG ratio of 2.46 and a beta of 0.89. Canadian National Railway has a one year low of $107.54 and a one year high of $134.02.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its earnings results on Tuesday, October 22nd. The transportation company reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.02. The business had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.08 billion. Canadian National Railway had a net margin of 31.65% and a return on equity of 23.62%. The company’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.26 earnings per share. As a group, research analysts predict that Canadian National Railway will post 5.49 EPS for the current fiscal year.

Canadian National Railway Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be issued a dividend of $0.6108 per share. The ex-dividend date is Monday, December 9th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.24%. Canadian National Railway’s payout ratio is currently 39.26%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on CNI shares. Susquehanna cut their price objective on Canadian National Railway from $130.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Royal Bank of Canada raised shares of Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. Benchmark reaffirmed a “hold” rating on shares of Canadian National Railway in a report on Thursday, October 24th. Stifel Nicolaus raised their target price on shares of Canadian National Railway from $130.00 to $132.00 and gave the stock a “hold” rating in a report on Wednesday, October 23rd. Finally, Barclays upped their price target on shares of Canadian National Railway from $120.00 to $121.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Canadian National Railway has a consensus rating of “Hold” and an average target price of $125.48.

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.