PNC Financial Services Group Inc. Reduces Holdings in Canadian National Railway (NYSE:CNI)

PNC Financial Services Group Inc. reduced its position in Canadian National Railway (NYSE:CNIFree Report) (TSE:CNR) by 0.6% in the 4th quarter, according to its most recent filing with the SEC. The fund 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 at the end of the most recent quarter.

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

Analyst Ratings Changes

Several brokerages have weighed in on CNI. Bank of America upgraded Canadian National Railway from a “neutral” rating to a “buy” rating and lifted their target price for the company from $140.00 to $145.00 in a research note on Wednesday, April 10th. Barclays lifted their price objective on shares of Canadian National Railway from $127.00 to $130.00 and gave the company an “equal weight” rating in a research report on Thursday, April 4th. Stephens restated an “equal weight” rating and set a $140.00 price objective on shares of Canadian National Railway in a research report on Wednesday, April 24th. Jefferies Financial Group assumed coverage on shares of Canadian National Railway in a report on Monday, April 8th. They issued a “hold” rating and a $130.00 target price on the stock. Finally, Susquehanna increased their price target on shares of Canadian National Railway from $140.00 to $142.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Eighteen investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $149.05.

View Our Latest Report on CNI

Canadian National Railway Price Performance

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

Canadian National Railway (NYSE:CNIGet Free Report) (TSE:CNR) last announced its quarterly earnings results on Tuesday, April 23rd. The transportation company reported $1.28 earnings per share (EPS) for the quarter, beating 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. On average, equities research analysts predict that Canadian National Railway will post 5.9 EPS for the current fiscal year.

Canadian National Railway Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be paid a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend is Friday, June 7th. Canadian National Railway’s payout ratio is currently 39.71%.

Canadian National Railway Profile

(Free Report)

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.

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

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