PNC Financial Services Group Inc. Has $6.96 Million Position in Canadian National Railway (NYSE:CNI)

PNC Financial Services Group Inc. lessened its holdings in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 4.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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.

A number of other large investors have also added to or reduced their stakes in CNI. Principal Financial Group Inc. raised its holdings in Canadian National Railway by 29.6% in the 3rd quarter. Principal Financial Group Inc. now owns 92,300 shares of the transportation company’s stock valued at $10,820,000 after buying an additional 21,100 shares during the last quarter. Assetmark Inc. raised its holdings in Canadian National Railway by 3.1% in the 3rd quarter. Assetmark Inc. now owns 4,980 shares of the transportation company’s stock valued at $583,000 after buying an additional 152 shares during the last quarter. Entropy Technologies LP bought a new position in Canadian National Railway in the 3rd quarter valued at approximately $2,043,000. Harbour Investments Inc. raised its holdings in Canadian National Railway by 5.3% in the 3rd quarter. Harbour Investments Inc. now owns 3,146 shares of the transportation company’s stock valued at $369,000 after buying an additional 158 shares during the last quarter. Finally, Dillon & Associates Inc. raised its holdings in Canadian National Railway by 1.8% in the 3rd quarter. Dillon & Associates Inc. now owns 81,401 shares of the transportation company’s stock valued at $9,524,000 after buying an additional 1,430 shares during the last quarter. Institutional investors own 80.74% of the company’s stock.

Canadian National Railway Stock Performance

NYSE CNI opened at $96.91 on Thursday. The company has a fifty day simple moving average of $101.99 and a 200 day simple moving average of $108.20. Canadian National Railway has a 12-month low of $93.64 and a 12-month high of $134.02. The company has a current ratio of 0.66, a quick ratio of 0.48 and a debt-to-equity ratio of 0.94. The company has a market cap of $60.88 billion, a P/E ratio of 18.93, a PEG ratio of 1.95 and a beta of 0.91.

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 (EPS) for the quarter, missing the consensus estimate of $1.39 by ($0.09). Canadian National Railway had a net margin of 26.09% and a return on equity of 22.48%. Sell-side analysts predict that Canadian National Railway will post 5.52 earnings per share for the current fiscal year.

Canadian National Railway Increases Dividend

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

Wall Street Analysts Forecast Growth

CNI has been the subject of a number of research reports. Stifel Nicolaus raised their price objective on shares of Canadian National Railway from $120.00 to $125.00 and gave the company a “buy” rating in a report on Friday, January 31st. Barclays lowered their price target on shares of Canadian National Railway from $121.00 to $112.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. JPMorgan Chase & Co. upgraded shares of Canadian National Railway from a “neutral” rating to an “overweight” rating in a report on Tuesday, January 7th. Bank of America lowered their price target on shares of Canadian National Railway from $119.00 to $112.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Finally, Evercore ISI upgraded shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a report on Thursday, December 19th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, seven have issued 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 an average target price of $124.19.

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.