Oppenheimer Asset Management Inc. Increases Stake in Canadian National Railway (CNI)

Oppenheimer Asset Management Inc. grew its stake in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 4.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 105,751 shares of the transportation company’s stock after purchasing an additional 4,081 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Canadian National Railway were worth $8,762,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Bronfman E.L. Rothschild L.P. raised its holdings in shares of Canadian National Railway by 0.9% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,416 shares of the transportation company’s stock valued at $115,000 after purchasing an additional 12 shares during the period. Proficio Capital Partners LLC raised its holdings in shares of Canadian National Railway by 0.8% during the second quarter. Proficio Capital Partners LLC now owns 1,783 shares of the transportation company’s stock valued at $143,000 after purchasing an additional 15 shares during the period. Hall Laurie J Trustee raised its holdings in shares of Canadian National Railway by 4.1% during the second quarter. Hall Laurie J Trustee now owns 1,275 shares of the transportation company’s stock valued at $103,000 after purchasing an additional 50 shares during the period. Suntrust Banks Inc. raised its holdings in shares of Canadian National Railway by 0.6% during the second quarter. Suntrust Banks Inc. now owns 8,385 shares of the transportation company’s stock valued at $679,000 after purchasing an additional 52 shares during the period. Finally, Financial Counselors Inc. raised its holdings in shares of Canadian National Railway by 0.9% during the second quarter. Financial Counselors Inc. now owns 5,719 shares of the transportation company’s stock valued at $464,000 after purchasing an additional 53 shares during the period. Hedge funds and other institutional investors own 53.83% of the company’s stock.

Shares of Canadian National Railway (NYSE CNI) opened at $80.06 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.61 and a quick ratio of 0.49. The company has a market cap of $60,000.00, a PE ratio of 20.68, a price-to-earnings-growth ratio of 2.15 and a beta of 1.09. Canadian National Railway has a one year low of $66.58 and a one year high of $84.48.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 8th will be paid a $0.3304 dividend. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.33. The ex-dividend date is Thursday, December 7th. This represents a $1.32 annualized dividend and a yield of 1.65%. Canadian National Railway’s dividend payout ratio (DPR) is 33.08%.

Canadian National Railway announced that its board has approved a stock buyback plan on Tuesday, October 24th that permits the company to repurchase 31,000,000 shares. This repurchase authorization permits the transportation company to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

A number of equities research analysts recently weighed in on CNI shares. TD Securities upgraded shares of Canadian National Railway from a “hold” rating to a “buy” rating in a report on Thursday, November 30th. They noted that the move was a valuation call. Goldman Sachs Group started coverage on shares of Canadian National Railway in a report on Monday, November 13th. They issued a “buy” rating and a $85.00 target price on the stock. Desjardins upgraded shares of Canadian National Railway from a “hold” rating to a “buy” rating in a report on Wednesday, October 25th. Cowen restated a “buy” rating and issued a $83.00 target price on shares of Canadian National Railway in a report on Sunday, September 24th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $89.00 target price on shares of Canadian National Railway in a report on Friday, October 6th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $79.67.

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Canadian National Railway Company Profile

Canadian National Railway Company is engaged in the rail and related transportation business. The Company’s network of approximately 20,000 route miles of track spans Canada and mid-America, connecting approximately three coasts, including the Atlantic, the Pacific and the Gulf of Mexico and serving the cities and ports of Vancouver, Prince Rupert (British Columbia), Montreal, Halifax, New Orleans, and Mobile (Alabama), and the metropolitan areas of Toronto, Edmonton, Winnipeg, Calgary, Chicago, Memphis, Detroit, Duluth (Minnesota)/Superior (Wisconsin), and Jackson (Mississippi), with connections to all points in North America.

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

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