Trust Co. of Virginia VA lowered its position in CSX Co. (NASDAQ:CSX) by 2.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 172,742 shares of the transportation company’s stock after selling 5,189 shares during the period. CSX comprises approximately 1.3% of Trust Co. of Virginia VA’s holdings, making the stock its 29th largest position. Trust Co. of Virginia VA’s holdings in CSX were worth $9,503,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of CSX. New England Research & Management Inc. boosted its holdings in shares of CSX by 3.5% during the 4th quarter. New England Research & Management Inc. now owns 25,323 shares of the transportation company’s stock valued at $1,393,000 after purchasing an additional 850 shares during the last quarter. Savant Capital LLC increased its position in shares of CSX by 6.9% during the fourth quarter. Savant Capital LLC now owns 14,744 shares of the transportation company’s stock worth $811,000 after acquiring an additional 947 shares during the period. Weatherly Asset Management L. P. increased its position in shares of CSX by 5.9% during the fourth quarter. Weatherly Asset Management L. P. now owns 17,220 shares of the transportation company’s stock worth $947,000 after acquiring an additional 953 shares during the period. M&T Bank Corp boosted its stake in shares of CSX by 0.4% during the fourth quarter. M&T Bank Corp now owns 229,184 shares of the transportation company’s stock valued at $12,608,000 after purchasing an additional 993 shares in the last quarter. Finally, Moors & Cabot Inc. boosted its stake in shares of CSX by 4.8% during the fourth quarter. Moors & Cabot Inc. now owns 22,817 shares of the transportation company’s stock valued at $1,267,000 after purchasing an additional 1,051 shares in the last quarter. 75.67% of the stock is owned by institutional investors.
Shares of CSX Co. (CSX) traded down $0.65 during trading hours on Wednesday, hitting $56.83. 5,209,116 shares of the company’s stock were exchanged, compared to its average volume of 7,550,000. CSX Co. has a 52 week low of $45.41 and a 52 week high of $60.04. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.81 and a current ratio of 1.01. The stock has a market cap of $50,420.00, a P/E ratio of 26.43, a PEG ratio of 1.39 and a beta of 1.27.
CSX (NASDAQ:CSX) last announced its quarterly earnings data on Tuesday, January 16th. The transportation company reported $0.64 EPS for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.08. CSX had a net margin of 47.96% and a return on equity of 17.16%. The company had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.89 billion. During the same period in the prior year, the firm posted $0.49 EPS. The company’s quarterly revenue was down 5.7% compared to the same quarter last year. research analysts expect that CSX Co. will post 3.1 earnings per share for the current fiscal year.
CSX declared that its Board of Directors has initiated a stock repurchase plan on Monday, February 12th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the transportation company to buy shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st will be issued a $0.22 dividend. This is a boost from CSX’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Wednesday, February 28th. This represents a $0.88 annualized dividend and a dividend yield of 1.55%. CSX’s dividend payout ratio is presently 40.93%.
A number of equities analysts have recently issued reports on the stock. BidaskClub upgraded shares of CSX from a “hold” rating to a “buy” rating in a research note on Wednesday, January 10th. Royal Bank of Canada raised their price target on shares of CSX from $59.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday, January 9th. They noted that the move was a valuation call. Robert W. Baird reissued a “buy” rating and set a $59.00 target price on shares of CSX in a report on Tuesday, January 9th. Scotiabank cut shares of CSX from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $63.00 to $43.00 in a report on Friday, January 12th. Finally, TD Securities lifted their price objective on shares of CSX from $60.00 to $62.00 and gave the company a “hold” rating in a report on Wednesday, January 17th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eighteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $60.71.
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CSX Company Profile
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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