Mackenzie Financial increases its holdings as analysts maintain a steady outlook for the rail transportation leader
Montreal, Canada, 12 March 2026 – Institutional investors continue to show interest in Canadian National Railway, one of North America’s largest rail transportation companies. Recent filings indicate that Mackenzie Financial Corp has slightly increased its stake in the company, signaling continued confidence in the railway operator’s long-term growth and stability within the transportation and logistics sector.
According to the latest filing with the U.S. Securities and Exchange Commission, Mackenzie Financial Corp increased its holdings in Canadian National Railway during the third quarter by 0.4 percent. The investment firm added 35,938 shares to its portfolio, bringing its total ownership to 8,626,147 shares.
The railway company now represents about 1 percent of Mackenzie Financial’s total investment portfolio and stands as the firm’s 21st largest holding. Based on the most recent valuation, the stake is worth approximately 813.3 million dollars. Overall, Mackenzie Financial holds about 1.40 percent ownership of Canadian National Railway.
Canadian National Railway remains a significant player in the North American transportation industry, operating an extensive rail network that connects major ports, manufacturing centers, and agricultural regions across Canada and the United States. Rail freight companies like CN play a crucial role in supply chain logistics by transporting goods such as energy products, agricultural commodities, consumer goods, and industrial materials.
Analyst opinions on the company remain balanced but generally positive. Market analysts currently hold a mixed outlook on the stock, with ten analysts recommending buying the shares while ten others suggest holding them. This balance results in a consensus rating of moderate buy, with an average price target estimated at 118.91 dollars.
Dividend performance is another factor attracting investor interest. Canadian National Railway recently increased its quarterly dividend to 0.915 dollars per share. On an annualized basis, this equals 3.66 dollars per share, offering investors a dividend yield of approximately 3.4 percent. The company’s ex-dividend date is set for March 10, with dividend payments scheduled to be distributed on March 31.
Institutional investors and hedge funds continue to maintain strong positions in the company. Several investment firms adjusted their holdings during the year, reflecting steady interest in transportation stocks and infrastructure-related investments.
Addison Advisors LLC significantly increased its holdings during the second quarter, expanding its position by more than 120 percent. Meanwhile, Hollencrest Capital Management and First Horizon Corp initiated new positions in Canadian National Railway during the third quarter.
Other investors also expanded their stakes. Costello Asset Management increased its position by over 80 percent, while Steigerwald Gordon & Koch Inc. established a new investment in the company. These adjustments highlight ongoing institutional participation in transportation and logistics stocks.
Overall, institutional investors and hedge funds currently own more than 80 percent of Canadian National Railway’s shares. This high level of institutional ownership often reflects investor confidence in the company’s business model, long-term infrastructure value, and role within the North American supply chain.
As global trade and freight transportation continue to evolve, railway companies remain a critical component of efficient logistics networks. Investments in rail infrastructure, operational efficiency, and network expansion continue to shape the industry’s future.
For investors and market analysts, Canadian National Railway remains a closely watched stock within the transportation sector, combining steady dividend performance with a key role in supporting North America’s economic and supply chain activity.
