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.
ILLEGAL ACTIVITY NOTICE: This article was originally published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this article on another site, it was illegally stolen and republished in violation of U.S. and international trademark & copyright law. The legal version of this article can be viewed at https://www.dispatchtribunal.com/2018/02/14/huntington-national-bank-sells-5917-shares-of-csx-co-csx.html.
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.
Receive News & Ratings for CSX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CSX and related companies with MarketBeat.com's FREE daily email newsletter.