5 Best Canadian Stocks to Buy and Hold

In this article, we will take a look at the 5 best Canadian stocks to buy and hold. To see more such companies, go directly to 13 Best Canadian Stocks to Buy and Hold.

5. Canadian Pacific Kansas City Limited (NYSE:CP)

Number of Hedge Fund Holders: 52

Canadian Pacific Kansas City Limited (NYSE:CP) ranks 5th in our list of the best Canadian stocks to buy and hold according to hedge funds. Canadian Pacific Kansas City Limited (NYSE:CP) recently posted Q3 results. Adjusted EPS in the period came in at C$0.92, beating estimates by C$0.26. Revenue in the quarter jumped a massive 44.6% on a year over year basis to C$3.34 billion, surpassing estimates by C$900 million.

Insider Monkey’s proprietary database of 910 hedge funds shows that 52 hedge funds were long Canadian Pacific Kansas City Limited (NYSE:CP) as of the end of the second quarter of 2023.

Pershing Square Holdings made the following comment about Canadian Pacific Kansas City Limited (NYSE:CP) in its first half 2023 investor letter:

“Canadian Pacific Kansas City Limited (NYSE:CP) is a high-quality business with significant earnings growth potential that operates in an oligopolistic industry with considerable barriers to entry and significant pricing power due to its high quality competitive transportation offering. After receiving regulatory approval from the Surface Transportation Board on March 15, Canadian Pacific closed the acquisition of Kansas City Southern on April 14th and renamed the combined company Canadian Pacific Kansas City.

CPKC is a high-quality business with significant earnings growth potential that operates in an oligopolistic industry with considerable barriers to entry and significant pricing power due to its high quality competitive transportation offering. After receiving regulatory approval from the Surface Transportation Board on March 15, Canadian Pacific closed the acquisition of Kansas City Southern on April 14th and renamed the combined company Canadian Pacific Kansas City. …”