Today I added to my position in CSX: NYSE at $25 per share. CSX is up 67% since my initial position started January 21, 2010.
Warren Buffett was right about the rail business, he said:
“The rail business is actually in tune with the future. Trains move goods using far less fuel than alternatives.” Warren Buffett
5 Reasons to Buy CSX
1. Yesterday, CSX was given a buy rating from Dahlman Rose Analysts and a reiterated buy rating from Goldman Sachs.
2. CSX quarterly revenue was up 12.40% on a year-over-year basis (last quarter)
3. CSX Corp. on Wednesday boosted planned spending on items such as railcars by $200 million, to $2.2 billion
4. CSN pays a 1.9% dividend and reaffirmed its 12 cent quarterly dividend payable for those on record August 31.
5. CSX improved earnings per share by 35.9% in the most recent quarter compared to the same quarter a year ago.