Cwm LLC raised its holdings in shares of CSX Co. (NASDAQ:CSX) by 26.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,217 shares of the transportation company’s stock after acquiring an additional 254 shares during the quarter. Cwm LLC’s holdings in CSX were worth $76,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in the business. Renaissance Technologies LLC bought a new stake in shares of CSX during the second quarter valued at approximately $7,201,000. Advisors Asset Management Inc. grew its position in CSX by 41.4% in the second quarter. Advisors Asset Management Inc. now owns 7,570 shares of the transportation company’s stock valued at $322,000 after acquiring an additional 2,218 shares during the period. One Capital Management LLC bought a new stake in CSX in the third quarter valued at $230,000. Douglas Lane & Associates LLC bought a new stake in CSX in the third quarter valued at $224,000. Finally, Dalton Greiner Hartman Maher & Co. bought a new stake in CSX in the third quarter valued at $11,039,000. 75.11% of the stock is currently owned by institutional investors.
Shares of CSX opened at $68.27 on Wednesday. The company has a current ratio of 1.34, a quick ratio of 1.29 and a debt-to-equity ratio of 1.17. CSX Co. has a 12-month low of $48.43 and a 12-month high of $76.24. The firm has a market cap of $56.93 billion, a PE ratio of 17.78, a PEG ratio of 1.20 and a beta of 1.25.
CSX (NASDAQ:CSX) last issued its quarterly earnings results on Wednesday, January 16th. The transportation company reported $1.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.01. CSX had a return on equity of 24.18% and a net margin of 27.01%. The business had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.12 billion. During the same quarter in the prior year, the firm posted $0.64 earnings per share. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. Research analysts anticipate that CSX Co. will post 4.22 EPS for the current fiscal year.
CSX declared that its board has authorized a share buyback plan on Wednesday, January 16th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the transportation company to purchase up to 9.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
A number of brokerages have weighed in on CSX. Zacks Investment Research cut CSX from a “buy” rating to a “hold” rating in a research report on Tuesday. ValuEngine upgraded CSX from a “hold” rating to a “buy” rating in a research report on Monday. Argus reiterated a “buy” rating and issued a $71.00 price target on shares of CSX in a research report on Friday, January 18th. TD Securities upped their price target on CSX from $74.00 to $75.00 and gave the company a “hold” rating in a research report on Thursday, January 17th. Finally, Loop Capital upped their price target on CSX to $87.00 and gave the company a “buy” rating in a research report on Thursday, January 17th. One analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the company. CSX presently has an average rating of “Buy” and an average price target of $75.93.
In other CSX news, Director Ridge Lp Mantle sold 1,930,318 shares of the 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 transaction, the director now owns 106 shares of the company’s stock, valued at $6,891.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 5.03% of the company’s stock.
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CSX Company Profile
CSX Corporation, together with its subsidiaries, provides rail-based transportation services in the United States and Canada. The company offers rail services, as well as transports intermodal containers and trailers. It transports agricultural and food products, fertilizers, chemicals, automotive, metals and equipment, minerals, and forest products; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.
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