Buffett's Burlington Buy Lifts Railroad Stocks
By TSC Staff
8/8/2007 10:13 AM EDT
Shares of Burlington Northern Santa Fe (BNI - Cramer's Take - Stockpickr - Rating) rose 4% Wednesday after Warren Buffett's investment vehicle, Berkshire Hathaway (BRK.A - Cramer's Take - Stockpickr - Rating), disclosed that it has boosted its stake in the railroad operator.
Berkshire said in a Securities and Exchange Commission filing that it recently purchased 1.62 million shares of Burlington Northern, giving it total ownership of about 40.6 million shares. That represents about an 11.5% stake in the company.
Shares of Burlington Northern recently were up $3.10 to $84.35.
Fellow railroad operator stocks also were climbing on the news. CSX (CSX - Cramer's Take - Stockpickr - Rating) was up $1.90, or 4.1%, to $48.28; Norfolk Southern (NSC - Cramer's Take - Stockpickr - Rating) was adding $1.33, or 2.7%, to $51.47; and Union Pacific (UNP - Cramer's Take - Stockpickr - Rating) was rising $2.88, or 2.5%, to $119.75.
By TSC Staff
8/8/2007 10:13 AM EDT
Shares of Burlington Northern Santa Fe (BNI - Cramer's Take - Stockpickr - Rating) rose 4% Wednesday after Warren Buffett's investment vehicle, Berkshire Hathaway (BRK.A - Cramer's Take - Stockpickr - Rating), disclosed that it has boosted its stake in the railroad operator.
Berkshire said in a Securities and Exchange Commission filing that it recently purchased 1.62 million shares of Burlington Northern, giving it total ownership of about 40.6 million shares. That represents about an 11.5% stake in the company.
Shares of Burlington Northern recently were up $3.10 to $84.35.
Fellow railroad operator stocks also were climbing on the news. CSX (CSX - Cramer's Take - Stockpickr - Rating) was up $1.90, or 4.1%, to $48.28; Norfolk Southern (NSC - Cramer's Take - Stockpickr - Rating) was adding $1.33, or 2.7%, to $51.47; and Union Pacific (UNP - Cramer's Take - Stockpickr - Rating) was rising $2.88, or 2.5%, to $119.75.
