Oppenheimer & Co. Inc. Sells 1,301 Shares of Canadian National Railway (NYSE:CNI)

Oppenheimer & Co. Inc. lowered its holdings in shares of Canadian National Railway (NYSE:CNIFree Report) (TSE:CNR) by 4.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,642 shares of the transportation company’s stock after selling 1,301 shares during the period. Oppenheimer & Co. Inc.’s holdings in Canadian National Railway were worth $3,221,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in CNI. Spire Wealth Management increased its stake in Canadian National Railway by 5.0% in the third quarter. Spire Wealth Management now owns 4,602 shares of the transportation company’s stock valued at $498,000 after acquiring an additional 219 shares during the period. Wells Fargo & Company MN raised its holdings in shares of Canadian National Railway by 61.1% in the 4th quarter. Wells Fargo & Company MN now owns 162,179 shares of the transportation company’s stock worth $20,375,000 after buying an additional 61,498 shares in the last quarter. YCG LLC lifted its position in shares of Canadian National Railway by 6.0% during the 4th quarter. YCG LLC now owns 250,085 shares of the transportation company’s stock worth $31,418,000 after buying an additional 14,249 shares during the period. TD Asset Management Inc boosted its stake in Canadian National Railway by 2.8% in the 4th quarter. TD Asset Management Inc now owns 11,651,919 shares of the transportation company’s stock valued at $1,471,733,000 after buying an additional 314,600 shares in the last quarter. Finally, Manning & Napier Group LLC grew its position in Canadian National Railway by 7.5% in the fourth quarter. Manning & Napier Group LLC now owns 669,988 shares of the transportation company’s stock valued at $84,171,000 after acquiring an additional 46,517 shares during the period. Institutional investors and hedge funds own 80.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Stephens reissued an “equal weight” rating and set a $140.00 price objective on shares of Canadian National Railway in a report on Wednesday, April 24th. Benchmark restated a “hold” rating on shares of Canadian National Railway in a research report on Wednesday, April 24th. Jefferies Financial Group began coverage on shares of Canadian National Railway in a report on Monday, April 8th. They set a “hold” rating and a $130.00 price objective for the company. Susquehanna boosted their target price on Canadian National Railway from $140.00 to $142.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Finally, StockNews.com cut Canadian National Railway from a “buy” rating to a “hold” rating in a report on Wednesday, May 22nd. Eighteen equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Canadian National Railway has an average rating of “Hold” and an average price target of $149.32.

Check Out Our Latest Research Report on Canadian National Railway

Canadian National Railway Price Performance

Shares of CNI stock opened at $124.01 on Friday. The firm’s 50 day moving average price is $126.74 and its two-hundred day moving average price is $125.76. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.46 and a current ratio of 0.60. Canadian National Railway has a 52-week low of $103.96 and a 52-week high of $134.02. The stock has a market cap of $78.95 billion, a PE ratio of 19.78, a PEG ratio of 2.22 and a beta of 0.90.

Canadian National Railway (NYSE:CNIGet Free Report) (TSE:CNR) last posted its quarterly earnings results on Tuesday, April 23rd. The transportation company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.01. The business had revenue of $3.15 billion for the quarter, compared to analyst estimates of $3.16 billion. Canadian National Railway had a return on equity of 23.27% and a net margin of 32.81%. As a group, analysts forecast that Canadian National Railway will post 5.9 EPS for the current year.

Canadian National Railway Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be paid a $0.625 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 2.02%. Canadian National Railway’s dividend payout ratio (DPR) is presently 39.71%.

About Canadian National Railway

(Free Report)

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.

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

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