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Is Canadian National Railway (USA) (CNI) A Good Stock To Buy?

The Insider Monkey team has completed processing the quarterly 13F filings for the September quarter submitted by the hedge funds and other money managers included in our extensive database. Most hedge fund investors endured a torrid quarter, which certainly propelled them to adjust their equity holdings so as to maintain the desired risk profile. As a result, the relevancy of these public filings and their content is indisputable, as they may reveal numerous high-potential stocks. The following article will discuss the smart money sentiment towards Canadian National Railway (USA) (NYSE:CNI).

Is Canadian National Railway (USA) (NYSE:CNI) the right pick for your portfolio? The smart money is becoming less confident. The number of bullish hedge fund positions dropped by 4 recently. The level and the change in hedge fund popularity aren’t the only variables you need to analyze to decipher hedge funds’ perspectives. A stock may witness a boost in popularity but it may still be less popular than similarly priced stocks. That’s why at the end of this article we will examine companies such as General Dynamics Corporation (NYSE:GD), NextEra Energy, Inc. (NYSE:NEE), and Infosys Ltd ADR (NYSE:INFY) to gather more data points.

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At the moment there are a multitude of metrics shareholders use to analyze stocks. A couple of the less utilized metrics are hedge fund and insider trading activity. We have shown that, historically, those who follow the top picks of the elite fund managers can outperform the S&P 500 by a healthy amount (see the details here).

With all of this in mind, we’re going to view the new action surrounding Canadian National Railway (USA) (NYSE:CNI).

How are hedge funds trading Canadian National Railway (USA) (NYSE:CNI)?

At the end of the third quarter, a total of 17 of the hedge funds tracked by Insider Monkey were bullish on this stock, a change of -19% from one quarter earlier. With hedgies’ positions undergoing their usual ebb and flow, there exists a few noteworthy hedge fund managers who were increasing their holdings considerably (or already accumulated large positions).

According to Insider Monkey’s hedge fund database, Bill & Melinda Gates Foundation Trust, managed by Michael Larson, holds the most valuable position in Canadian National Railway (USA) (NYSE:CNI). Bill & Melinda Gates Foundation Trust has a $972.1 million position in the stock, comprising 5.6% of its 13F portfolio. The second largest stake is held by Tetrem Capital Management, managed by Daniel Bubis, which holds a $92.9 million position; 3.2% of its 13F portfolio is allocated to the stock. Some other peers with similar optimism encompass D E Shaw, Cliff Asness’s AQR Capital Management and Ken Fisher’s Fisher Asset Management.

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