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Warren Buffett Watch
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Buffett's Berkshire Hathaway reports in an SEC filing tonight that it bought almost 4.4 million shares in the freight railroad over the last three trading days at prices between $61.65 and $63.43.
Total cost of the 4,363,000 shares comes out to $272.2 million, an average of $62.15 each.
Burlington's stock price has tumbled 25 percent over the past two weeks. It closed at $81.27 on January 6 and finished at $61.25 today, Tuesday.
Berkshire's Burlington Buys - Jan. 2009 |
| Date | Shares Acquired | Price/Share | Total Price |
| Thursday, January 15 | 1,800,000 | $62.1922 | $111,945,960 |
| Friday, January 16 | 681,000 | $63.4315 | $43,196,852 |
| Tuesday, January 20 | 1,882,000 | $61.6529 | $116,030,758 |
| TOTAL | 4,363,000 | $62.15301 | $271,173,569 |
The additional stock raises Berkshire's stake to 74,452,029 shares, about 21.75 percent of Burlington's shares. Berkshire continues to be Burlington's biggest shareholder, well ahead of Capital Research Global Investors, which reports just over 19 million shares.
Berkshire's stake topped 20 percent last December, after it bought 2.2 million shares in an options-related transaction. Burlington was in the mid $70s at that point.
In January of 2008, Berkshire bought almost 3 million shares in a series of purchases at prices between $75.51 and $78.18. There was another series of buys just under $80 in the summer of 2007.
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Buffett has often said he doesn't get upset when the price of a stock he's bought goes down. If he's still convinced confident about the company's long-term prospects, he sees it as an opportunity to buy more shares at an even lower price.
Current stock prices:
Burlington Northern: [BNI
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Berkshire Class A: [US;BRK.A
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Berkshire Class B: [US;BRK.B
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Questions? Comments? Email me at
- Warren Buffett On Barack Obama: Download the Complete Transcript (January 20)
- Warren Buffett's Dateline Interview with NBC's Tom Brokaw: The Complete Transcript (Part 2) - January 19
- Warren Buffett's Dateline Interview with NBC's Tom Brokaw: The Complete Transcript (Part 1) - January 19
- Warren Buffett: Barack Obama Will Help the Economy, But Don't Expect Short-Term Miracles (January 18)
- Warren Buffett's Washington Tour Features Newsroom "Mob Scene" With Barack Obama (January 16)
Data is a real-time snapshot *Data is delayed at least 15 minutes