PNC Financial Services Group Inc. Sells 897 Shares of Canadian National Railway (NYSE:CNI)

PNC Financial Services Group Inc. cut its holdings in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 1.2% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 71,796 shares of the transportation company’s stock after selling 897 shares during the period. PNC Financial Services Group Inc.’s holdings in Canadian National Railway were worth $8,411,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Canadian National Railway during the second quarter valued at $26,000. Addison Advisors LLC boosted its holdings in shares of Canadian National Railway by 159.1% during the 2nd quarter. Addison Advisors LLC now owns 241 shares of the transportation company’s stock valued at $28,000 after acquiring an additional 148 shares during the last quarter. Fortitude Family Office LLC grew its stake in shares of Canadian National Railway by 738.7% in the third quarter. Fortitude Family Office LLC now owns 260 shares of the transportation company’s stock worth $30,000 after acquiring an additional 229 shares during the period. ORG Partners LLC purchased a new position in shares of Canadian National Railway during the second quarter valued at approximately $34,000. Finally, Coastline Trust Co bought a new position in Canadian National Railway during the third quarter valued at approximately $34,000. Institutional investors own 80.74% of the company’s stock.

Canadian National Railway Stock Performance

NYSE CNI opened at $111.24 on Friday. The business has a 50-day moving average price of $113.14 and a 200-day moving average price of $117.23. The firm has a market cap of $70.06 billion, a price-to-earnings ratio of 17.83, a price-to-earnings-growth ratio of 2.41 and a beta of 0.89. Canadian National Railway has a twelve month low of $105.28 and a twelve month high of $134.02. The company has a quick ratio of 0.49, a current ratio of 0.64 and a debt-to-equity ratio of 0.96.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings data on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.02. Canadian National Railway had a net margin of 31.65% and a return on equity of 23.62%. The business had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.08 billion. During the same period last year, the firm posted $1.26 EPS. The company’s revenue was up 3.1% on a year-over-year basis. As a group, equities research analysts predict that Canadian National Railway will post 5.49 EPS for the current fiscal year.

Canadian National Railway Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be issued a dividend of $0.6108 per share. This represents a $2.44 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend is Monday, December 9th. Canadian National Railway’s dividend payout ratio (DPR) is presently 39.26%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on CNI shares. Stifel Nicolaus boosted their target price on shares of Canadian National Railway from $130.00 to $132.00 and gave the company a “hold” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company raised Canadian National Railway from an “equal weight” rating to an “overweight” rating and set a $125.00 target price on the stock in a report on Monday, October 7th. Barclays boosted their price target on Canadian National Railway from $120.00 to $121.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Citigroup upgraded shares of Canadian National Railway from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $126.00 to $130.00 in a research note on Tuesday, November 12th. Finally, Susquehanna cut their target price on shares of Canadian National Railway from $130.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $125.48.

Canadian National Railway 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.