Was Peter Avellone’s Cartenna Capital Right About These 5 Stocks?

1. Canadian National Railway Company (NYSE:CNI)

Cartenna Capital’s Stake Value: $21,395,000

Stock performance over the past 12 months as of November 24: -3.5%

Canadian National Railway Company (NYSE:CNI) is the largest holding in Peter Avellone’s Q3 portfolio, with his hedge fund buying 185,000 shares of the company, worth $21.3 million, representing 7.91% of the total 13F securities.

Stephens analyst Justin Long raised the firm’s price target on Canadian National Railway Company (NYSE:CNI) to $132 from $126 and kept an Equal Weight rating on the shares on January 4. Moving into 2022, the analyst thinks the focus for rail group investors could shift more towards the industry’s ability to improve service metrics and drive better volume growth. 

You can also take a look at 10 Dividend Stocks to Buy According to Billionaire Jim Simons’ Hedge Fund and Top 10 Stock Picks of Barry Rosenstein’s JANA Partners. 

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