Oppenheimer Asset Management Inc. Takes Position in Canadian National Railway Company (CNI)

Oppenheimer Asset Management Inc. purchased a new position in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) during the first quarter, Holdings Channel reports. The institutional investor purchased 100,760 shares of the transportation company’s stock, valued at approximately $7,449,000.

Several other large investors have also recently modified their holdings of CNI. Comerica Bank increased its stake in shares of Canadian National Railway Company by 5.2% in the fourth quarter. Comerica Bank now owns 70,799 shares of the transportation company’s stock worth $5,027,000 after buying an additional 3,472 shares during the period. Raymond James Financial Services Advisors Inc. increased its stake in shares of Canadian National Railway Company by 10.3% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 21,361 shares of the transportation company’s stock worth $1,436,000 after buying an additional 1,993 shares during the period. Van ECK Associates Corp increased its stake in shares of Canadian National Railway Company by 10.9% in the fourth quarter. Van ECK Associates Corp now owns 12,819 shares of the transportation company’s stock worth $862,000 after buying an additional 1,256 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Canadian National Railway Company by 5.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 231,908 shares of the transportation company’s stock worth $15,631,000 after buying an additional 11,991 shares during the period. Finally, Asset Management One Co. Ltd. increased its stake in shares of Canadian National Railway Company by 98.6% in the fourth quarter. Asset Management One Co. Ltd. now owns 44,804 shares of the transportation company’s stock worth $3,033,000 after buying an additional 22,246 shares during the period. Institutional investors and hedge funds own 55.29% of the company’s stock.

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

Shares of Canadian National Railway Company (NYSE:CNI) traded down 1.28% on Tuesday, reaching $80.17. 536,143 shares of the company’s stock were exchanged. Canadian National Railway Company has a 12 month low of $55.73 and a 12 month high of $82.11. The firm’s 50 day moving average price is $76.61 and its 200-day moving average price is $72.32. The company has a market capitalization of $60.62 billion, a P/E ratio of 22.08 and a beta of 1.12.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Friday, June 9th will be given a dividend of $0.3059 per share. The ex-dividend date is Wednesday, June 7th. This represents a $1.22 dividend on an annualized basis and a yield of 1.51%. Canadian National Railway Company’s payout ratio is currently 33.15%.

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A number of equities research analysts have recently commented on CNI shares. Zacks Investment Research downgraded shares of Canadian National Railway Company from a “buy” rating to a “hold” rating in a report on Thursday, February 23rd. Scotiabank upgraded shares of Canadian National Railway Company from a “sector perform” rating to an “outperform” rating in a report on Friday, March 3rd. Credit Suisse Group reiterated a “neutral” rating and set a $72.00 price target (up from $70.00) on shares of Canadian National Railway Company in a report on Monday, March 6th. Wells Fargo & Co started coverage on shares of Canadian National Railway Company in a report on Monday, March 13th. They set a “market perform” rating for the company. Finally, Loop Capital reiterated a “hold” rating on shares of Canadian National Railway Company in a report on Saturday, March 25th. Fifteen investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $80.38.

About Canadian National Railway Company

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.

Want to see what other hedge funds are holding CNI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Canadian National Railway Company (NYSE:CNI) (TSE:CNR).

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