PNC Financial Services Group Inc. Sells 467 Shares of Canadian National Railway (NYSE:CNI)

PNC Financial Services Group Inc. decreased its position in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 0.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 74,193 shares of the transportation company’s stock after selling 467 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Canadian National Railway were worth $9,321,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. US Bancorp DE grew its holdings in shares of Canadian National Railway by 7.2% during the 3rd quarter. US Bancorp DE now owns 95,160 shares of the transportation company’s stock valued at $10,309,000 after purchasing an additional 6,394 shares during the last quarter. Signaturefd LLC increased its holdings in shares of Canadian National Railway by 1.0% in the third quarter. Signaturefd LLC now owns 10,739 shares of the transportation company’s stock worth $1,163,000 after buying an additional 110 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of Canadian National Railway by 121.0% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 369 shares of the transportation company’s stock valued at $40,000 after acquiring an additional 202 shares during the last quarter. Syon Capital LLC purchased a new stake in Canadian National Railway during the 3rd quarter valued at about $646,000. Finally, Summit X LLC grew its position in Canadian National Railway by 213.3% during the 3rd quarter. Summit X LLC now owns 11,440 shares of the transportation company’s stock worth $1,239,000 after acquiring an additional 7,788 shares during the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Analyst Upgrades and Downgrades

CNI has been the subject of a number of analyst reports. Stephens reissued an “equal weight” rating and set a $140.00 price objective on shares of Canadian National Railway in a research note on Wednesday, April 24th. Benchmark reissued a “hold” rating on shares of Canadian National Railway in a report on Wednesday, April 24th. Jefferies Financial Group initiated coverage on shares of Canadian National Railway in a report on Monday, April 8th. They set a “hold” rating and a $130.00 target price for the company. Stifel Nicolaus boosted their price target on Canadian National Railway from $121.00 to $134.00 and gave the company a “hold” rating in a report on Friday, April 12th. Finally, StockNews.com cut Canadian National Railway from a “buy” rating to a “hold” rating in a report on Wednesday. Eighteen analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Canadian National Railway presently has an average rating of “Hold” and a consensus price target of $149.05.

Canadian National Railway Stock Performance

Shares of CNI opened at $127.52 on Thursday. Canadian National Railway has a 52 week low of $103.96 and a 52 week high of $134.02. The company has a quick ratio of 0.46, a current ratio of 0.60 and a debt-to-equity ratio of 0.84. The stock has a market cap of $81.19 billion, a P/E ratio of 20.34, a P/E/G ratio of 2.22 and a beta of 0.89. The business’s 50 day moving average price is $127.95 and its 200-day moving average price is $124.77.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its earnings results on Tuesday, April 23rd. The transportation company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.01. The firm had revenue of $3.15 billion for the quarter, compared to analysts’ expectations of $3.16 billion. Canadian National Railway had a return on equity of 23.27% and a net margin of 32.81%. Equities research analysts anticipate that Canadian National Railway will post 5.9 earnings per share for the current fiscal year.

Canadian National Railway Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be issued a $0.625 dividend. The ex-dividend date is Friday, June 7th. This represents a $2.50 annualized dividend and a yield of 1.96%. Canadian National Railway’s dividend payout ratio (DPR) is presently 39.71%.

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.