Dana Investment Advisors Inc. lessened its holdings in CSX Co. (NASDAQ:CSX) by 24.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,199 shares of the transportation company’s stock after selling 6,384 shares during the period. Dana Investment Advisors Inc.’s holdings in CSX were worth $1,255,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. Virtus ETF Advisers LLC lifted its stake in shares of CSX by 117.1% during the fourth quarter. Virtus ETF Advisers LLC now owns 445 shares of the transportation company’s stock valued at $28,000 after buying an additional 240 shares during the period. Larson Financial Group LLC purchased a new position in shares of CSX during the fourth quarter valued at approximately $28,000. Karp Capital Management Corp purchased a new position in shares of CSX during the fourth quarter valued at approximately $30,000. Highwater Wealth Management LLC purchased a new position in shares of CSX during the fourth quarter valued at approximately $31,000. Finally, Moody National Bank Trust Division purchased a new position in shares of CSX during the fourth quarter valued at approximately $34,000. 75.84% of the stock is currently owned by institutional investors.
In other news, Director Ridge Lp Mantle sold 1,930,318 shares of the stock in a transaction on Thursday, January 24th. The shares were sold at an average price of $65.01, for a total value of $125,489,973.18. Following the completion of the sale, the director now owns 106 shares of the company’s stock, valued at $6,891.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 5.03% of the stock is owned by corporate insiders.
CSX has been the topic of several recent analyst reports. Argus reissued a “buy” rating and set a $71.00 price objective on shares of CSX in a research note on Friday, January 18th. Loop Capital upped their price objective on shares of CSX to $87.00 and gave the company a “buy” rating in a research note on Thursday, January 17th. Morgan Stanley upped their price target on shares of CSX from $55.00 to $56.00 and gave the stock an “underweight” rating in a research report on Monday, January 7th. Royal Bank of Canada dropped their price target on shares of CSX to $80.00 and set an “outperform” rating for the company in a research report on Thursday, January 17th. Finally, Deutsche Bank upped their price target on shares of CSX from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, December 3rd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. CSX has an average rating of “Buy” and an average price target of $75.69.
Shares of CSX stock opened at $72.81 on Friday. CSX Co. has a one year low of $53.53 and a one year 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. The company has a market cap of $59.73 billion, a P/E ratio of 18.96, a P/E/G ratio of 1.29 and a beta of 1.29.
CSX (NASDAQ:CSX) last issued its quarterly earnings results on Wednesday, January 16th. The transportation company reported $1.01 EPS 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 during the quarter, compared to analyst estimates of $3.12 billion. During the same quarter in the prior year, the business posted $0.64 earnings per share. CSX’s revenue for the quarter was up 9.8% compared to the same quarter last year. Research analysts anticipate that CSX Co. will post 4.23 EPS for the current year.
CSX announced that its board has initiated a stock repurchase program on Wednesday, January 16th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the transportation company to reacquire up to 9.1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 28th were given a $0.24 dividend. The ex-dividend date of this dividend was Wednesday, February 27th. This represents a $0.96 annualized dividend and a dividend yield of 1.32%. This is a positive change from CSX’s previous quarterly dividend of $0.22. CSX’s dividend payout ratio is presently 25.00%.
CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services, as well as transports intermodal containers and trailers. It transports chemicals, automotive, agricultural and food products, minerals, fertilizers, forest products, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.
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