Exxonmobil Investment Management Inc. TX lessened its stake in CSX Co. (NASDAQ:CSX) by 14.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 142,106 shares of the transportation company’s stock after selling 24,678 shares during the quarter. Exxonmobil Investment Management Inc. TX’s holdings in CSX were worth $7,817,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Americafirst Capital Management LLC acquired a new stake in CSX in the 3rd quarter valued at about $308,000. Valeo Financial Advisors LLC acquired a new stake in CSX in the 3rd quarter valued at about $196,000. Laurel Wealth Advisors Inc. acquired a new stake in CSX in the 2nd quarter valued at about $226,000. Sterling Capital Management LLC increased its position in CSX by 32.0% in the 3rd quarter. Sterling Capital Management LLC now owns 5,876 shares of the transportation company’s stock valued at $319,000 after acquiring an additional 1,423 shares in the last quarter. Finally, Captrust Financial Advisors acquired a new stake in CSX in the 2nd quarter valued at about $390,000. Hedge funds and other institutional investors own 70.15% of the company’s stock.
CSX Co. (NASDAQ CSX) opened at $59.26 on Wednesday. CSX Co. has a one year low of $36.21 and a one year high of $59.76. The firm has a market cap of $52,960.00, a P/E ratio of 30.55, a P/E/G ratio of 1.59 and a beta of 1.35. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.86 and a current ratio of 1.05.
CSX declared that its Board of Directors has authorized a share buyback plan on Wednesday, October 25th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the transportation company to buy shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.
In other news, Director Gary Keith Anderson acquired 5,000 shares of CSX stock in a transaction that occurred on Friday, November 24th. The shares were acquired at an average price of $2,300.00 per share, with a total value of $11,500,000.00. 4.79% of the stock is owned by company insiders.
CSX has been the subject of several analyst reports. Royal Bank of Canada lifted their price target on shares of CSX from $59.00 to $67.00 and gave the stock an “outperform” rating in a research report on Tuesday. They noted that the move was a valuation call. Robert W. Baird reiterated a “buy” rating and set a $59.00 price target on shares of CSX in a research report on Tuesday. ValuEngine cut shares of CSX from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Barclays lifted their price target on shares of CSX from $55.00 to $60.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 18th. Finally, UBS Group set a $68.00 price target on shares of CSX and gave the stock a “buy” rating in a research report on Monday, October 16th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and sixteen have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $57.76.
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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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