Glenmede Trust Co. NA decreased its position in CSX Co. (NASDAQ:CSX) by 16.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 148,291 shares of the transportation company’s stock after selling 30,059 shares during the quarter. Glenmede Trust Co. NA’s holdings in CSX were worth $8,156,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the business. Bank of New York Mellon Corp grew its position in CSX by 0.6% in the fourth 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 in the last quarter. Alleghany Corp DE grew its position in CSX by 7.1% in the fourth 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 in the last quarter. APG Asset Management N.V. grew its position in CSX by 25.0% in the fourth 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 in the last quarter. Schwab Charles Investment Management Inc. grew its position in CSX by 0.4% in the fourth 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 in the last quarter. Finally, Parametric Portfolio Associates LLC grew its position in CSX by 4.5% in the third 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 in the last quarter. 75.57% of the stock is owned by institutional investors.
Several brokerages have issued reports on CSX. BidaskClub raised shares of CSX from a “hold” rating to a “buy” rating in a research report on Wednesday, January 10th. Royal Bank of Canada increased their price objective on shares of CSX from $59.00 to $67.00 and gave the company an “outperform” rating in a research report on Tuesday, January 9th. They noted that the move was a valuation call. Robert W. Baird reaffirmed a “buy” rating and issued a $59.00 price objective on shares of CSX in a research report on Tuesday, January 9th. Scotiabank downgraded shares of CSX from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from $63.00 to $43.00 in a research report on Friday, January 12th. Finally, TD Securities increased their price objective on shares of CSX from $60.00 to $62.00 and gave the company a “hold” rating in a research report on Wednesday, January 17th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and eighteen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $60.87.
CSX Co. (NASDAQ:CSX) opened at $55.29 on Friday. CSX Co. has a one year low of $45.53 and a one year high of $60.04. The stock has a market capitalization of $50,483.73, a price-to-earnings ratio of 9.11, a P/E/G ratio of 1.38 and a beta of 1.27. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.81 and a current ratio of 1.01.
CSX (NASDAQ:CSX) last announced its quarterly earnings data on Tuesday, January 16th. The transportation company reported $0.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.08. CSX had a return on equity of 17.16% and a net margin of 47.96%. The firm had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.89 billion. During the same period last year, the business posted $0.49 earnings per share. The firm’s revenue for the quarter was down 5.7% on a year-over-year basis. analysts predict that CSX Co. will post 3.1 EPS for the current fiscal year.
CSX declared that its Board of Directors has initiated a stock buyback program on Monday, February 12th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the transportation company to purchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 15th. Investors of record on Thursday, March 1st were paid a dividend of $0.22 per share. The ex-dividend date was Wednesday, February 28th. This is a boost from CSX’s previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a yield of 1.59%. CSX’s dividend payout ratio (DPR) is 14.50%.
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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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