CSX Co. (NASDAQ:CSX) Shares Sold by Huntington National Bank

Huntington National Bank trimmed its holdings in shares of CSX Co. (NASDAQ:CSX) by 4.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 118,892 shares of the transportation company’s stock after selling 5,917 shares during the quarter. Huntington National Bank’s holdings in CSX were worth $6,540,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also bought and sold shares of the stock. Oakbrook Investments LLC boosted its holdings in shares of CSX by 8.5% in the 3rd quarter. Oakbrook Investments LLC now owns 70,200 shares of the transportation company’s stock worth $3,809,000 after purchasing an additional 5,500 shares in the last quarter. Canada Pension Plan Investment Board raised its position in CSX by 12.0% during the 3rd quarter. Canada Pension Plan Investment Board now owns 564,878 shares of the transportation company’s stock valued at $30,650,000 after purchasing an additional 60,300 shares during the last quarter. P.R. Herzig & Co. Inc. bought a new position in CSX during the 4th quarter valued at approximately $718,000. Steward Partners Investment Advisory LLC bought a new position in CSX during the 3rd quarter valued at approximately $633,000. Finally, South State Corp raised its position in CSX by 36.3% during the 3rd quarter. South State Corp now owns 23,419 shares of the transportation company’s stock valued at $1,271,000 after purchasing an additional 6,239 shares during the last quarter. Institutional investors and hedge funds own 69.63% of the company’s stock.

Shares of CSX Co. (NASDAQ CSX) traded up $0.40 during trading on Wednesday, hitting $53.56. The stock had a trading volume of 7,490,800 shares, compared to its average volume of 7,399,537. The stock has a market capitalization of $48,700.00, a price-to-earnings ratio of 8.85, a price-to-earnings-growth ratio of 1.28 and a beta of 1.26. The company has a current ratio of 1.01, a quick ratio of 0.81 and a debt-to-equity ratio of 0.80. CSX Co. has a 52-week low of $45.41 and a 52-week high of $60.04.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Tuesday, January 16th. The transportation company reported $0.64 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.08. The firm had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.89 billion. CSX had a return on equity of 17.16% and a net margin of 47.96%. The business’s quarterly revenue was down 5.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.49 earnings per share. sell-side analysts forecast that CSX Co. will post 3.11 earnings per share for the current fiscal year.

CSX announced that its board has authorized a stock buyback plan on Wednesday, October 25th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the transportation company to buy shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, March 1st will be given a $0.22 dividend. The ex-dividend date of this dividend is Wednesday, February 28th. This represents a $0.88 annualized dividend and a yield of 1.64%. This is a positive change from CSX’s previous quarterly dividend of $0.20. CSX’s dividend payout ratio (DPR) is currently 13.22%.

In related news, Director Gary Keith Anderson purchased 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 24th. The stock was bought at an average price of $2,300.00 per share, for a total transaction of $11,500,000.00. Company insiders own 4.79% of the company’s stock.

A number of research firms have commented on CSX. BidaskClub raised CSX from a “hold” rating to a “buy” rating in a research report on Wednesday, January 10th. Robert W. Baird reiterated a “buy” rating and set a $59.00 target price on shares of CSX in a report on Tuesday, January 9th. Royal Bank of Canada upped their target price on CSX from $59.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday, January 9th. They noted that the move was a valuation call. Scotiabank downgraded CSX from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from $63.00 to $43.00 in a research note on Friday, January 12th. Finally, TD Securities upped their price target on CSX from $60.00 to $62.00 and gave the stock a “hold” rating in a research note on Wednesday, January 17th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seventeen have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $60.23.

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About CSX

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.

Institutional Ownership by Quarter for CSX (NASDAQ:CSX)

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