PNC Financial Services Group Inc. Sells 3,276 Shares of Canadian National Railway (NYSE:CNI)

PNC Financial Services Group Inc. reduced its position in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 4.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,520 shares of the transportation company’s stock after selling 3,276 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Canadian National Railway were worth $6,956,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. XTX Topco Ltd raised its position in Canadian National Railway by 43.3% during the third quarter. XTX Topco Ltd now owns 15,552 shares of the transportation company’s stock worth $1,822,000 after acquiring an additional 4,698 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Canadian National Railway by 29.6% in the third quarter. Principal Financial Group Inc. now owns 92,300 shares of the transportation company’s stock valued at $10,820,000 after purchasing an additional 21,100 shares during the period. Unigestion Holding SA raised its position in shares of Canadian National Railway by 363.6% in the third quarter. Unigestion Holding SA now owns 153,880 shares of the transportation company’s stock valued at $18,012,000 after purchasing an additional 120,687 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Canadian National Railway by 5.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,962,972 shares of the transportation company’s stock valued at $464,002,000 after purchasing an additional 202,303 shares during the period. Finally, Partners Group Holding AG raised its position in shares of Canadian National Railway by 16.3% in the third quarter. Partners Group Holding AG now owns 406,066 shares of the transportation company’s stock valued at $47,571,000 after purchasing an additional 56,849 shares during the period. 80.74% of the stock is owned by institutional investors.

Canadian National Railway Trading Up 1.5 %

Shares of Canadian National Railway stock opened at $96.91 on Thursday. The company has a market capitalization of $60.88 billion, a price-to-earnings ratio of 18.93, a PEG ratio of 1.95 and a beta of 0.91. The company has a quick ratio of 0.48, a current ratio of 0.66 and a debt-to-equity ratio of 0.94. Canadian National Railway has a 12-month low of $93.64 and a 12-month high of $134.02. The firm’s 50-day moving average price is $101.99 and its two-hundred day moving average price is $108.20.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings results on Thursday, January 30th. The transportation company reported $1.30 earnings per share for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.09). Canadian National Railway had a net margin of 26.09% and a return on equity of 22.48%. On average, analysts forecast that Canadian National Railway will post 5.52 earnings per share for the current fiscal year.

Canadian National Railway Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be paid a $0.6159 dividend. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.61. This represents a $2.46 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date is Monday, March 10th. Canadian National Railway’s dividend payout ratio (DPR) is presently 47.85%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CNI shares. Stifel Nicolaus increased their price objective on shares of Canadian National Railway from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Loop Capital lowered shares of Canadian National Railway from a “hold” rating to a “sell” rating in a research report on Monday, February 3rd. TD Securities raised shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 13th. Bank of America lowered their price target on shares of Canadian National Railway from $119.00 to $112.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Finally, Jefferies Financial Group raised shares of Canadian National Railway from a “hold” rating to a “buy” rating and set a $120.00 price target on the stock in a research report on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $124.19.

Canadian National Railway Company Profile

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.