BB&T Investment Services Inc. boosted its holdings in shares of CSX Co. (NASDAQ:CSX) by 327.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,800 shares of the transportation company’s stock after acquiring an additional 6,740 shares during the quarter. BB&T Investment Services Inc.’s holdings in CSX were worth $484,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of CSX. Bank of New York Mellon Corp grew its stake in shares of CSX by 0.6% in the fourth quarter. Bank of New York Mellon Corp now owns 9,771,161 shares of the transportation company’s stock worth $537,511,000 after acquiring an additional 60,453 shares during the last quarter. Alleghany Corp DE boosted its stake in CSX by 7.1% during the fourth quarter. Alleghany Corp DE now owns 4,285,000 shares of the transportation company’s stock worth $235,718,000 after buying an additional 285,000 shares in the last quarter. APG Asset Management N.V. boosted its stake in CSX by 25.0% during the fourth quarter. APG Asset Management N.V. now owns 3,218,644 shares of the transportation company’s stock worth $147,450,000 after buying an additional 644,500 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in CSX by 0.4% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 3,179,120 shares of the transportation company’s stock worth $174,884,000 after buying an additional 12,684 shares in the last quarter. Finally, Parametric Portfolio Associates LLC boosted its stake in CSX by 4.5% during the third quarter. Parametric Portfolio Associates LLC now owns 2,642,057 shares of the transportation company’s stock worth $143,358,000 after buying an additional 113,493 shares in the last quarter. 75.77% of the stock is currently owned by hedge funds and other institutional investors.
Shares of CSX stock traded up $1.10 on Thursday, reaching $56.11. 7,439,129 shares of the company were exchanged, compared to its average volume of 6,774,709. CSX Co. has a one year low of $46.04 and a one year high of $60.04. The stock has a market cap of $48,547.12, a P/E ratio of 24.40, a P/E/G ratio of 1.34 and a beta of 1.21. The company has a quick ratio of 0.81, a current ratio of 1.01 and a debt-to-equity ratio of 0.80.
CSX (NASDAQ:CSX) last announced its quarterly earnings data on Tuesday, January 16th. The transportation company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.08. CSX had a return on equity of 17.16% and a net margin of 47.96%. The company had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.89 billion. During the same quarter in the prior year, the business posted $0.49 EPS. The business’s revenue was down 5.7% compared to the same quarter last year. sell-side analysts expect that CSX Co. will post 3.1 EPS for the current year.
CSX announced that its board has authorized a share repurchase plan on Monday, February 12th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the transportation company to buy shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Investors of record on Thursday, March 1st were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date was Wednesday, February 28th. This is a boost from CSX’s previous quarterly dividend of $0.20. CSX’s dividend payout ratio is 38.26%.
A number of research firms have weighed in on CSX. BidaskClub upgraded shares of CSX from a “hold” rating to a “buy” rating in a research note on Wednesday, January 10th. Royal Bank of Canada boosted their target price on shares of CSX from $59.00 to $67.00 and gave the company an “outperform” rating in a research note on Tuesday, January 9th. They noted that the move was a valuation call. Robert W. Baird restated a “buy” rating and issued a $59.00 target price on shares of CSX in a research note on Tuesday, January 9th. Scotiabank cut CSX from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $63.00 to $43.00 in a report on Friday, January 12th. Finally, Cowen reaffirmed a “market perform” rating and issued a $61.00 price target (up from $54.00) on shares of CSX in a report on Wednesday, January 17th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and seventeen have given a buy rating to the company’s stock. CSX has an average rating of “Buy” and a consensus price target of $60.91.
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CSX Company Profile
CSX Corporation, together with its subsidiaries, provides rail-based transportation services in the United States and Canada. The company offers rail services, as well as transports intermodal containers and trailers. It transports agricultural and food products, fertilizers, chemicals, automotive, metals and equipment, minerals, and forest products; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.
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