10 Best Industrial Stocks to Buy According to Hedge Funds

07. CSX Corporation (NASDAQ:CSX)

Number of Hedge Funds Holders: 70

CSX Corporation (NASDAQ:CSX) and its subsidiaries offer rail-based freight transportation services, including the transportation of intermodal containers and trailers. The company provides various other transportation solutions such as rail-to-truck transfers and bulk commodity operations. CSX Corporation (NASDAQ:CSX) also handles the transport of chemicals, agricultural and food products, minerals, automotive items, forest products, fertilizers, and metals and equipment. Additionally, it moves coal, coke, and iron ore to power plants, steel manufacturers, and industrial plants, and exports coal to deep-water port facilities.

On June 7, Wells Fargo began covering CSX Corporation (NASDAQ:CSX) with an Equal Weight rating and a $35.00 price target. The analyst highlighted CSX Corporation (NASDAQ:CSX) consistent performance and attractive lower multiple compared to peers, but noted its slower EPS growth. CSX Corporation (NASDAQ:CSX) is praised for its smooth operations and strong valuation alignment. UBS revised its price target to $44.00 with a Buy rating, while BMO Capital Markets maintained an Outperform rating and a $40.00 price target, citing strong operational execution. Recently, Anne Chow was elected to CSX Corporation (NASDAQ:CSX) board, enhancing its focus on growth and innovation. Chow brings with her a substantial background from her 32-year career at AT&T, with deep knowledge in technology and customer service. On April 17, CSX Corporation (NASDAQ:CSX) announced its latest quarterly earnings, reporting normalized earnings per share of $0.46, surpassing estimates by $0.01. The company also achieved revenue of $3.68 billion, exceeding expectations by $14.85 million. This strong financial performance highlights CSX Corporation (NASDAQ:CSX) effective operational strategies and solid market standing.

In the first quarter of 2024, the number of hedge funds with stakes in CSX Corporation (NASDAQ:CSX) increased to 70 from 61 in the previous quarter, according to Insider Monkey’s database. The combined value of these stakes is approximately $3.82 billion. Eric W. Mandelblatt’s Soroban Capital Partners emerged as the largest stakeholder among these hedge funds during this period.