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

Several other institutional investors and hedge funds also recently modified their holdings of the company. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Canadian National Railway during the fourth quarter worth about $1,247,000. West Family Investments Inc. acquired a new position in shares of Canadian National Railway during the fourth quarter worth about $210,000. Callan Family Office LLC acquired a new position in shares of Canadian National Railway during the fourth quarter worth about $232,000. Raymond James Financial Inc. acquired a new position in shares of Canadian National Railway during the fourth quarter worth about $28,022,000. Finally, Aigen Investment Management LP boosted its position in shares of Canadian National Railway by 108.1% during the fourth quarter. Aigen Investment Management LP now owns 9,467 shares of the transportation company's stock worth $961,000 after buying an additional 4,917 shares during the period. 80.74% of the stock is owned by institutional investors and hedge funds.

Canadian National Railway Stock Performance

Shares of NYSE CNI traded up $1.78 during trading hours on Friday, reaching $97.70. 700,752 shares of the stock were exchanged, compared to its average volume of 1,186,793. The firm has a market capitalization of $61.40 billion, a price-to-earnings ratio of 19.08, a P/E/G ratio of 1.95 and a beta of 0.91. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.48 and a current ratio of 0.66. Canadian National Railway has a 52 week low of $93.64 and a 52 week high of $134.02. The stock's fifty day simple moving average is $101.77 and its 200 day simple moving average is $107.90.

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Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last announced its 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 return on equity of 22.48% and a net margin of 26.09%. Sell-side analysts predict that Canadian National Railway will post 5.52 EPS for the current year.

Canadian National Railway Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be paid a dividend of $0.6159 per share. The ex-dividend date is Monday, March 10th. This represents a $2.46 dividend on an annualized basis and a dividend yield of 2.52%. This is a positive change from Canadian National Railway's previous quarterly dividend of $0.61. Canadian National Railway's dividend payout ratio (DPR) is 47.66%.

Analyst Ratings Changes

Several brokerages recently commented on CNI. Stifel Nicolaus increased their price target on Canadian National Railway from $120.00 to $125.00 and gave the company a "buy" rating in a research report on Friday, January 31st. Wells Fargo & Company reduced their price target on Canadian National Railway from $125.00 to $123.00 and set an "overweight" rating for the company in a research report on Monday, January 13th. Royal Bank of Canada reduced their price target on Canadian National Railway from $174.00 to $171.00 and set an "outperform" rating for the company in a research report on Friday, January 31st. JPMorgan Chase & Co. raised Canadian National Railway from a "neutral" rating to an "overweight" rating in a research report on Tuesday, January 7th. Finally, TD Securities raised Canadian National Railway from a "hold" rating to a "strong-buy" rating in a research report on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $124.19.

About Canadian National Railway

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.