CSX reopens the expanded Howard Street Tunnel, enhancing freight transportation and boosting Maryland's economy and the East Coast supply chain.
Quiver AI Summary
CSX has announced the re-opening of the expanded Howard Street Tunnel in Baltimore, a significant $450+ million project aimed at modernizing freight rail transportation along the East Coast. This milestone reflects years of collaboration between state, federal, and private partners to enhance Maryland's economy and the national supply chain. The tunnel upgrade will allow double-stacked intermodal trains to move through Baltimore, alleviating a key bottleneck and improving freight efficiency from Maine to Florida. The project, which involved extensive labor and construction efforts, is set to increase cargo capacity at the Port of Baltimore and generate over 13,000 new jobs. CSX's leadership emphasized the project's transformative impact on commerce and job creation in the region, while transportation officials praised the successful partnership that made this modernization possible.
Potential Positives
- Re-opening of the Howard Street Tunnel represents a significant investment of over $450 million, enhancing freight rail infrastructure along the East Coast and reinforcing strategic transport links.
- The project is expected to create approximately 13,000 new jobs and increase annual business at the Port of Baltimore by around 160,000 containers, boosting Maryland's economy.
- CSX's completion of this project ahead of schedule allows for the removal of a long-standing volume constraint in the I-95 corridor, improving service efficiency for customers.
- The upgrade supports environmental benefits by enabling more cost-effective double-stacked rail transport, reducing highway congestion and emissions.
Potential Negatives
- Heavy reliance on federal funding and partnerships may raise concerns about long-term financial independence and stability.
- Investment in infrastructure projects could divert resources away from other critical operational areas or necessary upgrades.
- The lengthy duration of the project reflects potential inefficiencies in project management or planning, which may impact perceptions of the company's operational effectiveness.
FAQ
What is the Howard Street Tunnel project about?
The Howard Street Tunnel project is a $450+ million initiative to modernize freight rail transportation along the East Coast.
How will the tunnel reopening impact Maryland's economy?
The reopening will create thousands of jobs and expand business at the Port of Baltimore, benefiting Maryland's economy.
What benefits come from double-stacking trains through the tunnel?
Double-stacking trains reduces shipping costs, minimizes congestion on highways, and lowers emissions compared to truck transport.
When was the Howard Street Tunnel originally built?
The Howard Street Tunnel was originally constructed between 1890 and 1895 and has served as a crucial transportation artery for over 125 years.
What partners were involved in the Howard Street Tunnel project?
The project was a collaborative effort between CSX, the State of Maryland, the Federal Railroad Administration, and the U.S. Department of Transportation.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$CSX Congressional Stock Trading
Members of Congress have traded $CSX stock 8 times in the past 6 months. Of those trades, 3 have been purchases and 5 have been sales.
Here’s a breakdown of recent trading of $CSX stock by members of Congress over the last 6 months:
- SENATOR MARKWAYNE MULLIN has traded it 2 times. They made 1 purchase worth up to $50,000 on 05/13 and 1 sale worth up to $50,000 on 04/08.
- REPRESENTATIVE JEFFERSON SHREVE has traded it 2 times. They made 1 purchase worth up to $50,000 on 04/17 and 1 sale worth up to $50,000 on 05/12.
- REPRESENTATIVE BRUCE WESTERMAN has traded it 2 times. They made 1 purchase worth up to $15,000 on 04/08 and 1 sale worth up to $15,000 on 04/21.
- SENATOR TOMMY TUBERVILLE sold up to $50,000 on 04/15.
- REPRESENTATIVE ROBERT BRESNAHAN sold up to $15,000 on 04/08.
To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard.
$CSX Hedge Fund Activity
We have seen 678 institutional investors add shares of $CSX stock to their portfolio, and 934 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- JPMORGAN CHASE & CO removed 19,822,655 shares (-26.0%) from their portfolio in Q2 2025, for an estimated $646,813,232
- LAZARD ASSET MANAGEMENT LLC added 10,074,994 shares (+41.3%) to their portfolio in Q2 2025, for an estimated $328,747,054
- QUBE RESEARCH & TECHNOLOGIES LTD removed 8,053,117 shares (-78.9%) from their portfolio in Q2 2025, for an estimated $262,773,207
- HOLOCENE ADVISORS, LP added 7,313,115 shares (+inf%) to their portfolio in Q2 2025, for an estimated $238,626,942
- PRICE T ROWE ASSOCIATES INC /MD/ added 6,815,219 shares (+26.8%) to their portfolio in Q2 2025, for an estimated $222,380,595
- TOMS CAPITAL INVESTMENT MANAGEMENT LP added 5,612,400 shares (+inf%) to their portfolio in Q2 2025, for an estimated $183,132,612
- MORGAN STANLEY removed 5,299,840 shares (-16.9%) from their portfolio in Q2 2025, for an estimated $172,933,779
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
$CSX Analyst Ratings
Wall Street analysts have issued reports on $CSX in the last several months. We have seen 14 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
- Baird issued a "Outperform" rating on 09/26/2025
- Wells Fargo issued a "Overweight" rating on 09/25/2025
- B of A Securities issued a "Buy" rating on 09/24/2025
- RBC Capital issued a "Outperform" rating on 09/18/2025
- Barclays issued a "Overweight" rating on 07/24/2025
- JP Morgan issued a "Overweight" rating on 07/24/2025
- Benchmark issued a "Buy" rating on 07/24/2025
To track analyst ratings and price targets for $CSX, check out Quiver Quantitative's $CSX forecast page.
$CSX Price Targets
Multiple analysts have issued price targets for $CSX recently. We have seen 18 analysts offer price targets for $CSX in the last 6 months, with a median target of $38.0.
Here are some recent targets:
- Daniel Moore from Baird set a target price of $39.0 on 09/26/2025
- Christian Wetherbee from Wells Fargo set a target price of $40.0 on 09/25/2025
- Bascome Majors from Susquehanna set a target price of $34.0 on 09/25/2025
- Ken Hoexter from B of A Securities set a target price of $40.0 on 09/24/2025
- Walter Spracklin from RBC Capital set a target price of $39.0 on 09/18/2025
- Fadi Chamoun from BMO Capital set a target price of $38.0 on 08/18/2025
- Brandon Oglenski from Barclays set a target price of $38.0 on 07/24/2025
Full Release
JACKSONVILLE, Fla., Sept. 26, 2025 (GLOBE NEWSWIRE) -- CSX (NASDAQ: CSX) today announced the re-opening of the expanded Howard Street Tunnel, a historic and transformative $450+ million infrastructure project that will modernize freight rail transportation along the East Coast. The project marks a major milestone in the decades of effort by state, federal, and private partners to deliver a long-sought boost to Maryland’s economy and the nation’s supply chain.
““The completion of the Howard Street Tunnel reflects the dedication of our people — a once-in-a-generation achievement that will drive commerce, jobs, and growth across Maryland and the East Coast for decades,” said Joe Hinrichs, President and CEO of CSX. “This project reinforces CSX’s position as a high-performing, customer-focused railroad investing for profitable growth.”
Originally built from 1890-95, the Howard Street Tunnel has been a vital artery in America’s transportation network for more than 125 years. With the tunnel project completed, and once additional clearance projects are complete in early 2026, a key I-95 corridor bottleneck will be cleared and double-stacked intermodal trains will move through Baltimore. With this upgrade, CSX builds on its record of having the fastest and most efficient freight rail route along the I-95 corridor, giving customers a clear service advantage from Florida to the Northeast. The project also unlocks new lane-conversion opportunities, enabling shippers to shift even more freight from highway to rail.
The project was delivered through a partnership between CSX, the State of Maryland, the Federal Railroad Administration, and the U.S. Department of Transportation. Together, these partners invested in modernizing a 19th-century tunnel to meet today’s freight demands while preserving its historic character.
“President Trump's $125 million investment into the Howard Street Tunnel Project is proof of this administration's devotion to enhancing freight rail efficiency across America,” said U.S. Transportation Secretary Sean P. Duffy. “It's also a powerful example of what we can accomplish as a country when we make business attractive for private-sector partnerships. Together, we are getting America Building Again."
“With the Howard Street Tunnel’s reopening, CSX is now able to unleash the full strength of our network ahead of schedule, removing a long-standing volume constraint along the I-95 corridor,” said Mike Cory, Executive Vice President and Chief Operating Officer at CSX. “Even while navigating this and other major infrastructure projects over the last year, CSX has maintained the strong performance that customers have come to rely on. With this project now complete, our network is stronger than ever, underscoring the adaptability of our system and strength of the ONE CSX culture.”
“The Howard Street Tunnel project will transform Maryland and the Port of Baltimore,” said Maryland Governor Wes Moore. “Once completed, this initiative will help grow our economy by expanding business for the Port and creating thousands of jobs. In partnership, we are building pathways to work, wages, and wealth for all.”
The overall project is expected to provide the East Coast with seamless double-stack capacity on rail from Maine to Florida. Double-stacking is a more cost-effective way to transport freight by rail compared to trucks, reducing congestion along the busy I-95 corridor, and delivering environmental benefits with less emissions. It will also increase business at the Port of Baltimore by approximately 160,000 containers annually and generate more than 13,000 new jobs.
Key facts from the Howard Street Tunnel’s expansion include:
- Over 450,000+ man hours worked to date, peaking at 175 field craft, 20 subcontractors, and peak salaried supervision staff of 40 engaged in the expansion
- 233 consecutive days of 24/7 work in the tunnel (Feb. 5 thru Sept. 25)
- 1,128 dewatering wellpoints installed
- 1,188 PCIS (precast invert slabs) placed, weighing in at nearly 10 tons each
- 14,276 linear feet of wall drain installed
- Over 4,000 cubic yards of concrete placed
- Over 24,000 cubic feet of grout placed (mixed by hand)
- Over 25,000 cubic yards of excavated invert material removed from within tunnel
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Over 78,000 linear feet of temporary electrical cable installed
Additional quotes from Maryland leaders
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“Upgrading and maintaining our infrastructure keeps Maryland connected to the rest of our nation – and the globe. I am thrilled that the Howard Street Tunnel is now open for train traffic. This upgraded tunnel will strengthen the Port of Baltimore’s competitiveness and will allow for double stack trains to go through the tunnel – forever changing our supply chain for the better,”
said U.S. Senator Angela Alsobrooks for Maryland (D- Md.)
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“I’m incredibly proud that in just over seven months, the Howard Street Tunnel has reopened for regular train traffic. The Howard Street Tunnel in Baltimore has been crucial to transportation and trade in Maryland since the late 1800s, and it’s a testament to CSX and its engineering team’s hard work in modernizing this historic route for the future. Today’s opening was made possible thanks to key partnerships between CSX, the State of Maryland, the State of Pennsylvania, and the U.S. Department of Transportation – with $125 million of federal funding,”
said Congresswoman Elfreth (MD-03).
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“This is a project that’s been talked about for most of my life—and for good reason,”
said Mayor Brandon M. Scott.
“The new Howard Street Tunnel will allow more freight to move through the I-95 corridor, driving economic growth in Baltimore and beyond. I’m grateful to all of our partners in the public and private sector who worked for decades to make this moment possible.”
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“Today marks a significant milestone in the Howard Street Tunnel project, and we are proud to be one step closer to having a more competitive and connected Port of Baltimore,”
said Maryland Acting Transportation Secretary Samantha J. Biddle.
“Thanks to the partnership with CSX and the dedicated crews who modernized this 130-year-old tunnel, we are preparing to move double-stacked cargo more efficiently, unlocking new economic opportunities for Maryland and the region.”
About CSX
CSX, based in Jacksonville, Florida, is a premier transportation company. It provides rail, intermodal and rail-to-truck transload services and solutions to customers across a broad array of markets, including energy, industrial, construction, agricultural and consumer products. For nearly 200 years, CSX has played a critical role in the nation’s economic expansion and industrial development. Its network connects every major metropolitan area in the eastern United States, where nearly two-thirds of the nation’s population resides. It also links more than 240 short-line railroads and more than 70 ocean, river and lake ports with major population centers and farming towns alike. More information about CSX Corporation and its subsidiaries is available at www.csx.com. Like us on Facebook (http://facebook.com/OfficialCSX) and follow us on X, formerly known as Twitter ( http://twitter.com/CSX ).
Contact
:
Matthew Korn, CFA, Investor Relations
904-366-4515
Austin Staton, Corporate Communications
855-955-6397