11 Best Freight Stocks To Buy Now

8. Canadian National Railway Company (NYSE:CNI)

Number of Hedge Fund Holders: 40

Canadian National Railway Company (NYSE:CNI) is one of the best freight stocks to buy now. The company has a 20,000-mile network across Canada and the United States covering the Atlantic, Pacific, and the Gulf of Mexico.

Canadian National Railway Company (NYSE:CNI) is also popular among investors. At the close of the first quarter of 2024, 40 investors were bullish on the company and held consolidated stakes worth $13.53 billion. Of those, Michael Larson’s Bill & Melinda Gates Foundation Trust was the largest stakeholder, with a position worth $7.22 billion.

The company’s earnings grew by 11.28% over the past 12 months and 6.82% over the past five years. Analysts polled by Yahoo Finance expect the company’s earnings to grow by 11.17% in 2024 and by 25.19% in 2025.

While the freight industry remains volatile due to geopolitical risks, the company’s intermodal international and forest products segment continues to improve. With growth expectations in mind, the company expects to deliver 10% EPS growth in 2024. Canadian National Railway Company (NYSE:CNI) has a dividend yield of 1.9% as at the time of writing. The company has a 5-year dividend growth rate of 10.58% and a payout ratio of 44.57%. CNI is also on analysts’ radars. Based on price targets from 31 analysts, the stock has a median price forecast of $134.31, representing an upside of 12.56% from its current price of 119.32.