Bp Plc lessened its holdings in shares of CSX Co. (NASDAQ:CSX) by 4.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 183,000 shares of the transportation company’s stock after selling 9,000 shares during the period. Bp Plc’s holdings in CSX were worth $11,368,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wetherby Asset Management Inc. increased its stake in shares of CSX by 0.6% during the fourth quarter. Wetherby Asset Management Inc. now owns 26,429 shares of the transportation company’s stock valued at $1,642,000 after acquiring an additional 158 shares during the period. Parkside Financial Bank & Trust increased its stake in shares of CSX by 3.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 4,561 shares of the transportation company’s stock valued at $284,000 after acquiring an additional 164 shares during the period. Farmers Trust Co. increased its stake in shares of CSX by 3.6% during the fourth quarter. Farmers Trust Co. now owns 5,773 shares of the transportation company’s stock valued at $359,000 after acquiring an additional 200 shares during the period. Mycio Wealth Partners LLC increased its stake in shares of CSX by 2.2% during the fourth quarter. Mycio Wealth Partners LLC now owns 9,135 shares of the transportation company’s stock valued at $568,000 after acquiring an additional 200 shares during the period. Finally, Boenning & Scattergood Inc. increased its stake in shares of CSX by 1.1% during the fourth quarter. Boenning & Scattergood Inc. now owns 18,963 shares of the transportation company’s stock valued at $1,178,000 after acquiring an additional 200 shares during the period. 76.43% of the stock is currently owned by institutional investors.
Several research firms have issued reports on CSX. Zacks Investment Research lowered shares of CSX from a “buy” rating to a “hold” rating in a research report on Tuesday, February 5th. ValuEngine upgraded shares of CSX from a “hold” rating to a “buy” rating in a research report on Monday, February 4th. Argus restated a “buy” rating and issued a $71.00 price target on shares of CSX in a research report on Friday, January 18th. TD Securities lifted their price target on shares of CSX from $74.00 to $75.00 and gave the stock a “hold” rating in a research report on Thursday, January 17th. Finally, Loop Capital lifted their price target on shares of CSX to $87.00 and gave the stock a “buy” rating in a research report on Thursday, January 17th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $75.93.
In other CSX news, Director Ridge Lp Mantle sold 1,930,318 shares of CSX stock in a transaction that occurred on Thursday, January 24th. The shares were sold at an average price of $65.01, for a total transaction of $125,489,973.18. Following the transaction, the director now directly owns 106 shares in the company, valued at approximately $6,891.06. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 5.03% of the company’s stock.
NASDAQ CSX opened at $71.13 on Thursday. CSX Co. has a twelve month low of $53.13 and a twelve month high of $76.24. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.20 and a current ratio of 1.34. The company has a market cap of $56.63 billion, a price-to-earnings ratio of 18.52, a PEG ratio of 1.22 and a beta of 1.25.
CSX (NASDAQ:CSX) last posted its quarterly earnings data on Wednesday, January 16th. The transportation company reported $1.01 earnings per share for the quarter, hitting the consensus estimate of $1.01. CSX had a net margin of 27.01% and a return on equity of 24.18%. The firm had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $3.12 billion. During the same period in the previous year, the company posted $0.64 EPS. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. As a group, equities analysts expect that CSX Co. will post 4.23 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Thursday, February 28th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.35%. This is a boost from CSX’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Wednesday, February 27th. CSX’s payout ratio is presently 22.92%.
CSX announced that its Board of Directors has initiated a share repurchase plan on Wednesday, January 16th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the transportation company to buy up to 9.1% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.
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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.
Further Reading: Outstanding Shares and The Effect on Share Price
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