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Warren Buffett's Railroad Ride Paying Off as Burlington Northern Hits All-Time High
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Executive Producer
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BNSF Burlington Northern shares rally to an all-time high, gaining 30 percent since January when Buffett completed his most recent string of stock buys. |
Current price: [BNI
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Burlington Northern rallied along with other railroad stocks after rival CSX [CSX
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] reported surprisingly strong earnings last night, despite a softening U.S. economy. Burlington Northern is scheduled to release its first quarter results in just under two weeks on April 29.
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Today's close for Burlington Northern lifts the stock to a 30 percent gain from its January 22 close, just after Buffett's Berkshire Hathaway finished a string of almost daily buys during the month totaling almost three million shares. Those purchases were all in the mid to high $70s. (You can see the 'January buying opportunity' dip in Burlington's stock price in the chart above.)
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As Buffett was buying Burlington Northern last year, he was also selling two other railroads: Norfolk Southern [NSC
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] and Union Pacific [UNP
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Norfolk Southern's stock has gained more than Burlington Northern (33.3% vs 29.8%) since January 22. Union Pacific is underforming over the same period, with a 23.7 percent advance.
Current Berkshire price: [US;BRK.A
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See Warren Buffett Watch on CNBC's The Call, most weekday mornings at 11:50a ET
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Data is a real-time snapshot *Data is delayed at least 15 minutes
