Oppenheimer Asset Management Inc. Sells 160 Shares of Canadian National Railway (NYSE:CNI)

Oppenheimer Asset Management Inc. reduced its holdings in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 1.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,371 shares of the transportation company’s stock after selling 160 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Canadian National Railway were worth $1,801,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Canadian National Railway in the second quarter worth about $26,000. Addison Advisors LLC increased its position in shares of Canadian National Railway by 159.1% during the 2nd quarter. Addison Advisors LLC now owns 241 shares of the transportation company’s stock valued at $28,000 after purchasing an additional 148 shares during the last quarter. Fortitude Family Office LLC increased its position in shares of Canadian National Railway by 738.7% during the 3rd quarter. Fortitude Family Office LLC now owns 260 shares of the transportation company’s stock valued at $30,000 after purchasing an additional 229 shares during the last quarter. ORG Partners LLC purchased a new stake in Canadian National Railway during the 2nd quarter valued at $34,000. Finally, Reston Wealth Management LLC bought a new stake in Canadian National Railway in the third quarter worth $41,000. 80.74% of the stock is currently owned by institutional investors.

Canadian National Railway Stock Performance

Shares of CNI stock opened at $108.90 on Monday. The firm has a market cap of $68.58 billion, a price-to-earnings ratio of 17.45, a PEG ratio of 2.46 and a beta of 0.89. Canadian National Railway has a 52-week low of $107.54 and a 52-week high of $134.02. The company has a quick ratio of 0.49, a current ratio of 0.64 and a debt-to-equity ratio of 0.96. The company’s 50 day moving average is $114.04 and its 200 day moving average is $117.68.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings results on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.02. The business had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.08 billion. Canadian National Railway had a return on equity of 23.62% and a net margin of 31.65%. The business’s revenue was up 3.1% compared to the same quarter last year. During the same period last year, the business posted $1.26 EPS. On average, sell-side analysts anticipate that Canadian National Railway will post 5.49 EPS for the current fiscal year.

Canadian National Railway Cuts Dividend

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

Analysts Set New Price Targets

A number of research analysts have weighed in on CNI shares. Bank of America cut shares of Canadian National Railway from a “buy” rating to a “neutral” rating and cut their price objective for the company from $129.00 to $122.00 in a research report on Friday, October 4th. Susquehanna reduced their price objective on shares of Canadian National Railway from $130.00 to $125.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Wells Fargo & Company upgraded Canadian National Railway from an “equal weight” rating to an “overweight” rating and set a $125.00 target price for the company in a research report on Monday, October 7th. Evercore ISI decreased their price target on Canadian National Railway from $119.00 to $116.00 and set an “in-line” rating for the company in a research note on Wednesday, October 23rd. Finally, Citigroup raised Canadian National Railway from a “neutral” rating to a “buy” rating and upped their price objective for the company from $126.00 to $130.00 in a research report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Canadian National Railway has an average rating of “Hold” and an average price target of $125.48.

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.