5 Best Affordable Stocks To Buy Now

3. CSX Corporation (NASDAQ:CSX)

Share Price as of December 17: $31.65

Number of Hedge Fund Holders: 61

CSX Corporation (NASDAQ:CSX) is an American holding company focused on rail transportation and real estate in North America, among other industries. The company was established in 1980 as part of the Chessie System and Seaboard Coast Line Industries merger.

Earlier this November, Barclays analyst Brandon Oglenski raised the price target on CSX Corporation (NASDAQ:CSX) to $38 from $35 and kept an Overweight rating on the shares. According to the analyst, the company stands to benefit from leveraging “industry leading” service outcomes with long-term growth from committed customer projects. He adds that the shares “should appreciate from the current low end of industry valuation.”

According to Insider Monkey’s Q3 data, 61 hedge funds were bullish on CSX Corporation (NASDAQ:CSX), compared to 63 funds in the prior quarter. Eric W. Mandelblatt’s Soroban Capital Partners is the leading position holder in the company, with 57.6 million shares worth $1.5 billion.

Here is what ClearBridge Investments Global Infrastructure Value Strategy has to say about CSX Corporation (NYSE:CSX) in its Q4 2021 investor letter:

“On a regional basis, the U.S. and Canada were the top contributors to quarterly performance, of which U.S. rail operator CSX was among the lead performers. CSX is one of five leading North American rail companies, with over 21,000 miles of rail, covering 23 states and 40+ ports. CSX is engaged in the transportation of rail freight in the Southeast, East, and Midwest via interchange with other rail carriers, to and from the rest of the U.S. and Canada. CSX performed well during the quarter after the company beat market expectations on its third-quarter results. The beats were largely driven by strong pricing, which could be hitting record highs, and healthy commodity/coal volume driven by the current energy crisis.”