Oppenheimer Asset Management Inc. Reduces Position in Canadian National Railway (NYSE:CNI)

Oppenheimer Asset Management Inc. trimmed its stake in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 0.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,531 shares of the transportation company’s stock after selling 114 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Canadian National Railway were worth $1,835,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CNI. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Canadian National Railway in the second quarter worth $26,000. Addison Advisors LLC increased its stake in Canadian National Railway by 159.1% in the 2nd quarter. Addison Advisors LLC now owns 241 shares of the transportation company’s stock worth $28,000 after buying an additional 148 shares in the last quarter. GAMMA Investing LLC raised its holdings in Canadian National Railway by 766.7% during the first quarter. GAMMA Investing LLC now owns 234 shares of the transportation company’s stock valued at $31,000 after acquiring an additional 207 shares during the period. ORG Partners LLC purchased a new position in shares of Canadian National Railway in the second quarter valued at about $34,000. Finally, Daiwa Securities Group Inc. purchased a new position in shares of Canadian National Railway in the first quarter valued at about $64,000. 80.74% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CNI has been the topic of several recent analyst reports. National Bank Financial raised Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research note on Thursday, June 27th. Scotiabank upgraded shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 10th. Bank of America dropped their target price on shares of Canadian National Railway from $132.00 to $129.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Wells Fargo & Company reduced their price target on shares of Canadian National Railway from $130.00 to $125.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 24th. Finally, Sanford C. Bernstein downgraded shares of Canadian National Railway from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $146.25 to $130.67 in a report on Monday, July 8th. Sixteen research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Canadian National Railway currently has an average rating of “Hold” and an average target price of $137.35.

Canadian National Railway Stock Performance

NYSE CNI opened at $117.00 on Thursday. The company has a market cap of $73.68 billion, a P/E ratio of 18.66, a P/E/G ratio of 2.56 and a beta of 0.88. The business’s 50 day moving average price is $116.30 and its 200-day moving average price is $122.31. Canadian National Railway has a fifty-two week low of $103.96 and a fifty-two week high of $134.02. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.48 and a current ratio of 0.63.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings data on Tuesday, July 23rd. The transportation company reported $1.84 earnings per share for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.09). The firm had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $4.40 billion. Canadian National Railway had a net margin of 32.00% and a return on equity of 23.58%. The company’s revenue was up 6.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.31 EPS. Sell-side analysts predict that Canadian National Railway will post 5.58 earnings per share for the current year.

Canadian National Railway Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 6th will be paid a $0.614 dividend. This represents a $2.46 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend is Friday, September 6th. Canadian National Railway’s payout ratio is currently 39.08%.

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.