Brinker Capital Inc. lessened its holdings in CSX Co. (NASDAQ:CSX) by 1.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 23,887 shares of the transportation company’s stock after selling 417 shares during the quarter. Brinker Capital Inc.’s holdings in CSX were worth $1,484,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the business. Wetherby Asset Management Inc. boosted its holdings in shares of CSX by 0.6% during the 4th 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 in the last quarter. Parkside Financial Bank & Trust boosted its holdings in shares of CSX by 3.7% during the 4th 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 in the last quarter. Bremer Trust National Association raised its position in CSX by 5.1% during the 4th quarter. Bremer Trust National Association now owns 3,609 shares of the transportation company’s stock worth $224,000 after purchasing an additional 176 shares during the last quarter. Farmers Trust Co. raised its position in CSX by 3.6% during the 4th quarter. Farmers Trust Co. now owns 5,773 shares of the transportation company’s stock worth $359,000 after purchasing an additional 200 shares during the last quarter. Finally, Mycio Wealth Partners LLC raised its position in CSX by 2.2% during the 4th quarter. Mycio Wealth Partners LLC now owns 9,135 shares of the transportation company’s stock worth $568,000 after purchasing an additional 200 shares during the last quarter. 75.78% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Ridge Lp Mantle sold 1,930,318 shares of the business’s stock in a transaction dated Thursday, January 24th. The stock was 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 directly owns 106 shares of the company’s stock, valued at approximately $6,891.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 5.03% of the company’s stock.
Several research analysts recently issued reports on CSX shares. Argus reaffirmed a “buy” rating and set a $71.00 target price on shares of CSX in a research report on Friday, January 18th. Loop Capital raised their target price on CSX to $87.00 and gave the stock a “buy” rating in a research report on Thursday, January 17th. Morgan Stanley raised their target price on 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 lowered their target price on CSX to $80.00 and set an “outperform” rating for the company in a research report on Thursday, January 17th. Finally, Deutsche Bank raised their target price on 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 assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $75.69.
CSX stock opened at $72.82 on Thursday. CSX Co. has a 1-year low of $53.53 and a 1-year high of $76.24. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.34 and a quick ratio of 1.20. The stock has a market capitalization of $59.69 billion, a PE ratio of 18.95, a price-to-earnings-growth ratio of 1.29 and a beta of 1.29.
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 Thomson Reuters’ consensus estimate of $1.01. CSX had a return on equity of 24.18% and a net margin of 27.01%. The firm had revenue of $3.14 billion during the quarter, compared to analyst estimates of $3.12 billion. During the same period last year, the company posted $0.64 EPS. The business’s quarterly revenue was up 9.8% on a year-over-year basis. Analysts expect that CSX Co. will post 4.23 earnings per share for the current year.
CSX announced that its Board of Directors has approved a share repurchase plan on Wednesday, January 16th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the transportation company to repurchase up to 9.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 28th were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.32%. This is a positive change from CSX’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Wednesday, February 27th. CSX’s 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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