Virtue Capital Management LLC purchased a new stake in CSX Co. (NASDAQ:CSX) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 8,077 shares of the transportation company’s stock, valued at approximately $444,000.
A number of other institutional investors and hedge funds have also modified their holdings of CSX. Bank of New York Mellon Corp raised its position in shares of CSX by 0.6% during the fourth quarter. Bank of New York Mellon Corp now owns 9,771,161 shares of the transportation company’s stock worth $537,511,000 after purchasing an additional 60,453 shares during the period. Alleghany Corp DE raised its position in shares of CSX by 7.1% during the fourth quarter. Alleghany Corp DE now owns 4,285,000 shares of the transportation company’s stock worth $235,718,000 after purchasing an additional 285,000 shares during the period. APG Asset Management N.V. raised its position in shares of CSX by 25.0% during the fourth quarter. APG Asset Management N.V. now owns 3,218,644 shares of the transportation company’s stock worth $147,450,000 after purchasing an additional 644,500 shares during the period. Schwab Charles Investment Management Inc. raised its position in shares of CSX by 0.4% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 3,179,120 shares of the transportation company’s stock worth $174,884,000 after purchasing an additional 12,684 shares during the period. Finally, Parametric Portfolio Associates LLC raised its position in shares of CSX by 4.5% during the third quarter. Parametric Portfolio Associates LLC now owns 2,642,057 shares of the transportation company’s stock worth $143,358,000 after purchasing an additional 113,493 shares during the period. 74.77% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have recently weighed in on CSX shares. BidaskClub raised CSX from a “hold” rating to a “buy” rating in a research report on Wednesday, January 10th. UBS Group set a $68.00 target price on CSX and gave the stock a “buy” rating in a research report on Sunday, December 3rd. Goldman Sachs Group started coverage on CSX in a research report on Monday, November 13th. They set a “sell” rating and a $45.00 target price on the stock. Zacks Investment Research raised CSX from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a research report on Friday, January 19th. Finally, Morgan Stanley set a $51.00 target price on CSX and gave the stock a “sell” rating in a research report on Wednesday, January 17th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eighteen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $60.71.
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, beating analysts’ consensus estimates of $0.56 by $0.08. The firm had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.89 billion. CSX had a return on equity of 17.16% and a net margin of 47.96%. The business’s revenue for the quarter was down 5.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.49 EPS. equities research analysts expect that CSX Co. will post 3.1 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date is Wednesday, February 28th. This is an increase from CSX’s previous quarterly dividend of $0.20. CSX’s dividend payout ratio is 14.50%.
CSX declared that its Board of Directors has initiated a share repurchase plan on Monday, February 12th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the transportation company to buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
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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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