PNC Financial Services Group Inc. Has $9.32 Million Position in Canadian National Railway (NYSE:CNI)

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

A number of other institutional investors also recently modified their holdings of CNI. Kestra Advisory Services LLC boosted its stake in shares of Canadian National Railway by 6.6% during the 3rd quarter. Kestra Advisory Services LLC now owns 17,890 shares of the transportation company’s stock valued at $1,938,000 after buying an additional 1,105 shares during the period. QRG Capital Management Inc. acquired a new stake in shares of Canadian National Railway in the 3rd quarter valued at $336,000. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Canadian National Railway in the 3rd quarter valued at $1,311,000. Envestnet Asset Management Inc. lifted its stake in shares of Canadian National Railway by 41.9% in the 3rd quarter. Envestnet Asset Management Inc. now owns 759,251 shares of the transportation company’s stock valued at $82,250,000 after purchasing an additional 224,254 shares during the last quarter. Finally, Rathbones Group PLC lifted its stake in shares of Canadian National Railway by 11.1% in the 3rd quarter. Rathbones Group PLC now owns 7,335 shares of the transportation company’s stock valued at $798,000 after purchasing an additional 735 shares during the last quarter. Institutional investors and hedge funds own 80.74% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company assumed coverage on shares of Canadian National Railway in a research note on Friday, June 7th. They issued an “equal weight” rating and a $130.00 price objective for the company. Jefferies Financial Group assumed coverage on shares of Canadian National Railway in a research note on Monday, April 8th. They issued a “hold” rating and a $130.00 price objective for the company. Susquehanna lifted their price objective on shares of Canadian National Railway from $140.00 to $142.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Benchmark reiterated a “hold” rating on shares of Canadian National Railway in a report on Wednesday, April 24th. Finally, Bank of America upgraded shares of Canadian National Railway from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $140.00 to $145.00 in a report on Wednesday, April 10th. Eighteen research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $149.32.

Canadian National Railway Stock Performance

NYSE:CNI opened at $118.44 on Wednesday. The firm’s 50-day moving average is $125.55 and its 200-day moving average is $126.28. Canadian National Railway has a 52-week low of $103.96 and a 52-week high of $134.02. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.46 and a current ratio of 0.60. The company has a market cap of $75.15 billion, a price-to-earnings ratio of 18.89, a PEG ratio of 2.12 and a beta of 0.90.

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

Canadian National Railway Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be paid a $0.625 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $2.50 dividend on an annualized basis and a yield of 2.11%. Canadian National Railway’s payout ratio is currently 39.07%.

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.