Top 5 Stock Picks of Jason McDougall’s 11 Capital Partners

In this article, we discuss the top 5 stock picks of Jason McDougall’s 11 Capital Partners. If you want our detailed analysis of these stocks, go directly to Top 10 Stock Picks of Jason McDougall’s 11 Capital Partners. 

5. CSX Corporation (NASDAQ:CSX)

11 Capital Partners’ Stake Value: $27,056,000

Percentage of 11 Capital Partners’ 13F Portfolio: 5.47%

Number of Hedge Fund Holders: 56

CSX Corporation (NASDAQ:CSX) is a Florida-based holding company that focuses on rail transportation, technology, and real estate in North America. 11 Capital Partners owns 909,736 shares of CSX Corporation (NASDAQ:CSX), worth $27 million, accounting for 5.47% of the fund’s third quarter 13F securities. 

On January 20, CSX Corporation (NASDAQ:CSX) reported its Q4 results, posting earnings per share of $0.42, beating estimates by $0.01. The $3.43 billion revenue gained 21.31% year-over-year, exceeding estimates by $109.29 million. Heading into 2022, CSX Corporation (NASDAQ:CSX) is targeting full-year capex spending of about $2 billion.

Argus analyst John Eade kept his Buy rating and $39 price target on CSX Corporation (NASDAQ:CSX) on January 25, and noted that the recent pullback in the stock offers a buying opportunity. The analyst stated that he is positive on the company from a macro standpoint, with the rail industry having been on a secular growth path compared to other transport options. He is also positive on CSX Corporation (NASDAQ:CSX)’s history of raising the dividend and buying back stock.

In Q3 2021, 56 hedge funds were long CSX Corporation (NASDAQ:CSX), with stakes totalling $3.91 billion, as compared to the same number of funds in the prior quarter, holding stakes in CSX Corporation (NASDAQ:CSX) worth $4.2 billion. Soroban Capital Partners is the biggest stakeholder of the company, with 39.5 million shares valued at $1.17 billion.