5 Best Canadian Stocks to Buy and Hold

3. Canadian National Railway Company (NYSE:CNI)

Number of Hedge Fund Holders: 42

Canadian National Railway Company (NYSE:CNI) is the longest railway system in North America. It provides rail, intermodal, trucking, business development, and supply chain services. Canadian National Railway Company (NYSE:CNI) reported another solid quarterly performance in September 2022. The company reported an EPS of C$2.13 and generated a revenue of C$4.51 billion, up 25.6% year over year and ahead of Wall Street estimates by C$190 million. Free cash flow for the first nine months of 2022 was roughly C$3 billion, up C$2.03 billion for the same period last year.

Ken Hoexter, an analyst at BofA, maintained a Buy recommendation on Canadian National Railway Company (NYSE:CNI) stock on November 29 after the company named Edmond Harris as its Executive Vice-President and Chief Operating Officer. He also increased his price target from $131 to $140.

As of December 2, 2022, Bill & Melinda Gates Foundation Trust is the largest shareholder in Canadian National Railway Company (NYSE:CNI) in our database and holds a stake worth more than $5.9 billion.