Tandem Investment Advisors Inc. acquired a new stake in CSX Co. (NASDAQ:CSX) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 10,447 shares of the transportation company’s stock, valued at approximately $575,000.
Other institutional investors also recently added to or reduced their stakes in the company. Cbre Clarion Securities LLC boosted its holdings in shares of CSX by 1.7% during the 2nd quarter. Cbre Clarion Securities LLC now owns 23,500 shares of the transportation company’s stock worth $1,282,000 after buying an additional 400 shares during the period. Advisory Services Network LLC boosted its holdings in shares of CSX by 2.6% during the 2nd quarter. Advisory Services Network LLC now owns 21,741 shares of the transportation company’s stock worth $1,186,000 after buying an additional 557 shares during the period. Tocqueville Asset Management L.P. boosted its holdings in shares of CSX by 1.9% during the 3rd quarter. Tocqueville Asset Management L.P. now owns 77,038 shares of the transportation company’s stock worth $4,180,000 after buying an additional 1,420 shares during the period. Sterling Capital Management LLC boosted its holdings in shares of CSX by 32.0% during the 3rd quarter. Sterling Capital Management LLC now owns 5,876 shares of the transportation company’s stock worth $319,000 after buying an additional 1,423 shares during the period. Finally, Bahl & Gaynor Inc. boosted its holdings in CSX by 17.4% in the 2nd quarter. Bahl & Gaynor Inc. now owns 10,068 shares of the transportation company’s stock valued at $362,000 after purchasing an additional 1,493 shares during the period. Hedge funds and other institutional investors own 70.07% of the company’s stock.
CSX Co. (CSX) traded down $0.09 during trading on Wednesday, reaching $56.77. 6,186,781 shares of the company traded hands, compared to its average volume of 9,040,000. CSX Co. has a twelve month low of $45.41 and a twelve month high of $60.04. The company has a market cap of $50,740.00, a price-to-earnings ratio of 9.35, a price-to-earnings-growth ratio of 1.40 and a beta of 1.35. The company has a quick ratio of 0.86, a current ratio of 1.01 and a debt-to-equity ratio of 0.80.
CSX (NASDAQ:CSX) last released its quarterly earnings data on Tuesday, January 16th. The transportation company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.08. CSX had a net margin of 47.96% and a return on equity of 17.16%. The business had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.89 billion. During the same quarter last year, the firm earned $0.49 EPS. CSX’s quarterly revenue was down 5.7% compared to the same quarter last year. research analysts anticipate that CSX Co. will post 3.07 EPS for the current fiscal year.
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 a number of analyst reports. Scotiabank downgraded shares of CSX from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $63.00 to $43.00 in a report on Friday, January 12th. BidaskClub upgraded shares of CSX from a “hold” rating to a “buy” rating in a research report on Wednesday, January 10th. Zacks Investment Research upgraded shares of CSX from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a research report on Friday, January 19th. Royal Bank of Canada increased their target price on shares of CSX from $59.00 to $67.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 9th. They noted that the move was a valuation call. Finally, Citigroup reiterated a “buy” rating and set a $64.00 target price on shares of CSX in a research report on Wednesday, January 17th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and seventeen have issued a buy rating to the stock. CSX presently has a consensus rating of “Buy” and an average target price of $60.38.
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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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