Bp Plc lessened its position in CSX Co. (NASDAQ:CSX) by 4.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 183,000 shares of the transportation company’s stock after selling 9,000 shares during the quarter. Bp Plc’s holdings in CSX were worth $11,368,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in CSX. Atria Investments LLC purchased a new stake in shares of CSX in the 3rd quarter valued at about $303,000. First Hawaiian Bank lifted its holdings in shares of CSX by 70.1% in the 3rd quarter. First Hawaiian Bank now owns 6,992 shares of the transportation company’s stock valued at $518,000 after purchasing an additional 2,881 shares during the last quarter. Andra AP fonden lifted its holdings in shares of CSX by 124.2% in the 3rd quarter. Andra AP fonden now owns 33,400 shares of the transportation company’s stock valued at $2,473,000 after purchasing an additional 18,500 shares during the last quarter. Raymond James Trust N.A. lifted its holdings in shares of CSX by 39.3% in the 3rd quarter. Raymond James Trust N.A. now owns 19,090 shares of the transportation company’s stock valued at $1,413,000 after purchasing an additional 5,387 shares during the last quarter. Finally, Global Trust Asset Management LLC purchased a new stake in shares of CSX in the 3rd quarter valued at about $178,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.
Several research firms have recently weighed in on CSX. Zacks Investment Research raised CSX from a “hold” rating to a “buy” rating and set a $74.00 target price for the company in a report on Thursday, January 24th. BidaskClub raised CSX from a “hold” rating to a “buy” rating in a research note on Friday, November 2nd. Stephens reaffirmed a “buy” rating and set a $86.00 price objective on shares of CSX in a research note on Monday, October 22nd. Royal Bank of Canada reaffirmed an “outperform” rating on shares of CSX in a research note on Wednesday, October 17th. Finally, ValuEngine raised CSX from a “hold” rating to a “buy” rating in a research note on Monday, February 4th. One analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the company. CSX currently has a consensus rating of “Buy” and a consensus price target of $75.93.
Shares of CSX stock opened at $71.13 on Thursday. The company has a market cap of $56.63 billion, a PE ratio of 18.52, a price-to-earnings-growth ratio of 1.22 and a beta of 1.25. CSX Co. has a 12-month low of $53.13 and a 12-month high of $76.24. The company has a quick ratio of 1.20, a current ratio of 1.34 and a debt-to-equity ratio of 1.17.
CSX (NASDAQ:CSX) last issued its earnings results on Wednesday, January 16th. The transportation company reported $1.01 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.01. The business had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.12 billion. CSX had a return on equity of 24.18% and a net margin of 27.01%. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.64 EPS. On average, equities research analysts expect that CSX Co. will post 4.23 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Thursday, February 28th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.35%. This is an increase from CSX’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Wednesday, February 27th. CSX’s dividend payout ratio is 22.92%.
CSX announced that its board has authorized a share repurchase program on Wednesday, January 16th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the transportation company to buy up to 9.1% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.
In other news, Director Ridge Lp Mantle sold 1,930,318 shares of the stock in a transaction that occurred on Thursday, January 24th. The stock was sold at an average price of $65.01, for a total transaction of $125,489,973.18. Following the completion of the transaction, the director now directly owns 106 shares of the company’s stock, valued at approximately $6,891.06. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 5.03% of the company’s stock.
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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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