Guggenheim Capital LLC boosted its position in CSX Co. (NASDAQ:CSX) by 22.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,310,647 shares of the transportation company’s stock after buying an additional 238,648 shares during the period. Guggenheim Capital LLC owned approximately 0.15% of CSX worth $72,099,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. First Command Financial Services Inc. increased its holdings in CSX by 130.0% during the 4th quarter. First Command Financial Services Inc. now owns 2,123 shares of the transportation company’s stock worth $117,000 after purchasing an additional 1,200 shares in the last quarter. Prentiss Smith & Co. Inc. bought a new stake in CSX during the 4th quarter worth approximately $119,000. Icon Wealth Partners LLC purchased a new position in shares of CSX in the 4th quarter worth approximately $126,000. Front Row Advisors LLC purchased a new position in shares of CSX in the 4th quarter worth approximately $135,000. Finally, IFG Advisory LLC purchased a new position in shares of CSX in the 4th quarter worth approximately $355,000. 75.67% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have recently weighed in on CSX. Scotiabank set a $63.00 target price on CSX and gave the stock a “hold” rating in a research note on Wednesday, January 17th. TD Securities boosted their target price on CSX from $60.00 to $62.00 and gave the stock a “hold” rating in a research note on Wednesday, January 17th. Bank of America cut their target price on CSX from $67.00 to $66.00 and set a “buy” rating on the stock in a research note on Tuesday, February 13th. BidaskClub upgraded CSX from a “sell” rating to a “hold” rating in a research note on Wednesday, December 6th. Finally, Citigroup restated a “buy” rating and issued a $64.00 target price on shares of CSX in a research note on Wednesday, January 17th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and eighteen have issued a buy rating to the company’s stock. CSX presently has a consensus rating of “Buy” and a consensus target price of $60.71.
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, beating the Zacks’ consensus estimate of $0.56 by $0.08. CSX had a return on equity of 17.16% and a net margin of 47.96%. The firm had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.89 billion. During the same period last year, the firm earned $0.49 earnings per share. The company’s revenue for the quarter was down 5.7% compared to the same quarter last year. equities analysts forecast that CSX Co. will post 3.1 EPS for the current year.
CSX declared that its Board of Directors has initiated a share buyback plan on Monday, February 12th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the transportation company to repurchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st will be paid a dividend of $0.22 per share. This is a boost from CSX’s previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date of this dividend is Wednesday, February 28th. CSX’s dividend payout ratio (DPR) is 14.50%.
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CSX Corporation is a transportation company. The Company provides rail-based freight transportation services, including traditional rail service and transport of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations.
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