Raymond James Trust N.A. Boosts Position in CSX Co. (NASDAQ:CSX)


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Raymond James Trust N.A. boosted its position in shares of CSX Co. (NASDAQ:CSX) by 75.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 27,809 shares of the transportation company’s stock after acquiring an additional 11,961 shares during the quarter. Raymond James Trust N.A.’s holdings in CSX were worth $2,524,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of CSX. Point72 Asset Management L.P. bought a new position in shares of CSX in the third quarter worth about $140,216,000. Alleghany Corp DE raised its position in CSX by 396.9% in the 3rd quarter. Alleghany Corp DE now owns 829,080 shares of the transportation company’s stock valued at $64,395,000 after buying an additional 662,234 shares during the last quarter. Ceredex Value Advisors LLC purchased a new stake in CSX in the 3rd quarter valued at $46,615,000. Voloridge Investment Management LLC raised its position in CSX by 279.9% in the 3rd quarter. Voloridge Investment Management LLC now owns 650,915 shares of the transportation company’s stock valued at $50,557,000 after buying an additional 479,584 shares during the last quarter. Finally, FMR LLC increased its position in shares of CSX by 9.3% during the 2nd quarter. FMR LLC now owns 5,327,049 shares of the transportation company’s stock valued at $371,508,000 after purchasing an additional 452,819 shares during the last quarter. Institutional investors own 73.75% of the company’s stock.

Shares of CSX stock opened at $94.64 on Thursday. The company has a quick ratio of 1.73, a current ratio of 1.84 and a debt-to-equity ratio of 1.27. CSX Co. has a twelve month low of $46.81 and a twelve month high of $97.54. The business has a 50-day moving average price of $91.33 and a 200 day moving average price of $80.64. The firm has a market cap of $72.38 billion, a PE ratio of 26.29, a P/E/G ratio of 3.09 and a beta of 1.18.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Wednesday, October 21st. The transportation company reported $0.96 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.03. CSX had a return on equity of 22.83% and a net margin of 26.08%. The company had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.68 billion. During the same period in the previous year, the business earned $1.08 EPS. CSX’s quarterly revenue was down 11.1% on a year-over-year basis. On average, sell-side analysts expect that CSX Co. will post 3.61 EPS for the current year.

CSX announced that its board has initiated a share repurchase plan on Wednesday, October 21st that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the transportation company to purchase up to 8.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

A number of equities analysts have commented on the company. Bank of America lifted their price target on CSX from $85.00 to $89.00 and gave the stock a “buy” rating in a research note on Wednesday, September 30th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their price target on CSX from $87.00 to $105.00 in a research note on Monday. Deutsche Bank Aktiengesellschaft lifted their price target on CSX from $97.00 to $105.00 and gave the stock a “buy” rating in a research note on Monday, November 30th. Raymond James lifted their price objective on CSX from $76.00 to $86.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 29th. Finally, Barclays upgraded CSX from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $78.00 to $92.00 in a research report on Friday, October 16th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $84.78.

In other CSX news, EVP Mark Kenneth Wallace sold 3,986 shares of the business’s stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $87.57, for a total transaction of $349,054.02. Following the completion of the sale, the executive vice president now directly owns 58,593 shares in the company, valued at approximately $5,130,989.01. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.58% of the stock is currently owned by insiders.

CSX Company Profile

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services; and transportation of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations. 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, as well as exports coal to deep-water port facilities.

Further Reading: Intrinsic Value

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Institutional Ownership by Quarter for CSX (NASDAQ:CSX)

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