Earnest Partners LLC decreased its stake in shares of CSX Co. (NASDAQ:CSX) by 4.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 778,361 shares of the transportation company’s stock after selling 34,512 shares during the period. Earnest Partners LLC owned approximately 0.09% of CSX worth $42,818,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its position in CSX by 0.6% during the 4th quarter. Bank of New York Mellon Corp now owns 9,771,161 shares of the transportation company’s stock valued at $537,511,000 after acquiring an additional 60,453 shares during the period. Alleghany Corp DE lifted its position in CSX by 7.1% during the 4th quarter. Alleghany Corp DE now owns 4,285,000 shares of the transportation company’s stock valued at $235,718,000 after acquiring an additional 285,000 shares during the period. APG Asset Management N.V. lifted its position in CSX by 25.0% during the 4th quarter. APG Asset Management N.V. now owns 3,218,644 shares of the transportation company’s stock valued at $147,450,000 after acquiring an additional 644,500 shares during the period. Schwab Charles Investment Management Inc. lifted its position in CSX by 0.4% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 3,179,120 shares of the transportation company’s stock valued at $174,884,000 after acquiring an additional 12,684 shares during the period. Finally, Parametric Portfolio Associates LLC lifted its position in CSX by 4.5% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 2,642,057 shares of the transportation company’s stock valued at $143,358,000 after acquiring an additional 113,493 shares during the period. 75.67% of the stock is currently owned by hedge funds and other institutional investors.
CSX Co. (NASDAQ CSX) opened at $57.48 on Wednesday. The company has a current ratio of 1.01, a quick ratio of 0.81 and a debt-to-equity ratio of 0.80. CSX Co. has a twelve month low of $45.41 and a twelve month high of $60.04. The firm has a market cap of $51,095.93, a P/E ratio of 9.47, a PEG ratio of 1.39 and a beta of 1.27.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, March 1st will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.53%. This is a positive change from CSX’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Wednesday, February 28th. CSX’s payout ratio is 14.50%.
CSX announced that its Board of Directors has initiated a stock repurchase plan on Monday, February 12th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the transportation company to purchase shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.
Several research analysts have issued reports on the stock. UBS Group set a $68.00 target price on shares of CSX and gave the stock a “buy” rating in a report on Friday, November 17th. TD Securities cut shares of CSX from a “buy” rating to a “hold” rating and decreased their target price for the stock from $63.00 to $54.00 in a report on Monday, December 18th. Scotiabank set a $55.00 target price on shares of CSX and gave the stock a “buy” rating in a report on Friday, December 15th. Bank of America decreased their target price on shares of CSX from $67.00 to $66.00 and set a “buy” rating for the company in a report on Tuesday, February 13th. Finally, Barclays reaffirmed a “buy” rating and issued a $68.00 target price on shares of CSX in a report on Wednesday, December 13th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eighteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $60.71.
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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