Towerview LLC acquired a new stake in shares of CSX Co. (NASDAQ:CSX) during the fourth quarter, according to its most recent disclosure with the SEC. The fund acquired 5,000 shares of the transportation company’s stock, valued at approximately $275,000. CSX makes up about 0.1% of Towerview LLC’s holdings, making the stock its 19th largest position.
Several other hedge funds also recently bought and sold shares of CSX. APG Asset Management N.V. lifted its position in shares of CSX by 25.0% during the 4th quarter. APG Asset Management N.V. now owns 3,218,644 shares of the transportation company’s stock valued at $147,450,000 after buying an additional 644,500 shares in the last quarter. Lord Abbett & CO. LLC lifted its holdings in CSX by 29.5% in the 2nd quarter. Lord Abbett & CO. LLC now owns 2,479,799 shares of the transportation company’s stock worth $135,298,000 after purchasing an additional 565,529 shares in the last quarter. Boston Advisors LLC lifted its holdings in CSX by 1,491.4% in the 4th quarter. Boston Advisors LLC now owns 558,610 shares of the transportation company’s stock worth $30,729,000 after purchasing an additional 523,508 shares in the last quarter. Cohen & Steers Inc. lifted its holdings in CSX by 31.3% in the 3rd quarter. Cohen & Steers Inc. now owns 1,801,521 shares of the transportation company’s stock worth $97,751,000 after purchasing an additional 429,795 shares in the last quarter. Finally, Bank of Montreal Can lifted its holdings in CSX by 13.0% in the 4th quarter. Bank of Montreal Can now owns 1,567,713 shares of the transportation company’s stock worth $86,240,000 after purchasing an additional 180,925 shares in the last quarter. 69.63% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms recently commented on CSX. Bank of America lowered their price target on CSX from $67.00 to $66.00 and set a “buy” rating on the stock in a report on Tuesday. BidaskClub cut CSX from a “hold” rating to a “sell” rating in a report on Monday, February 5th. Zacks Investment Research raised CSX from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a report on Friday, January 19th. Argus lifted their price objective on CSX from $64.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, January 18th. Finally, Scotiabank reduced their price objective on CSX from $63.00 to $62.50 and set a “sector perform” rating on the stock in a research note on Thursday, January 18th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and seventeen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $60.23.
CSX Co. (NASDAQ CSX) traded up $0.40 during midday trading on Wednesday, hitting $53.56. The stock had a trading volume of 7,490,800 shares, compared to its average volume of 7,360,272. The company has a market cap of $48,700.00, a P/E ratio of 9.06, a P/E/G 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 released its earnings results on Tuesday, January 16th. The transportation company reported $0.64 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.08. The firm had revenue of $2.86 billion for 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 company’s revenue for the quarter was down 5.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.49 EPS. research analysts expect that CSX Co. will post 3.11 EPS 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 given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.64%. The ex-dividend date of this dividend is Wednesday, February 28th. This is an increase from CSX’s previous quarterly dividend of $0.20. CSX’s dividend payout ratio is 13.22%.
CSX declared that its Board of Directors has approved a stock buyback plan on Wednesday, October 25th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the transportation company to buy shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.
In other CSX news, Director Gary Keith Anderson acquired 5,000 shares of the business’s stock in a transaction on Friday, November 24th. The shares were bought at an average price of $2,300.00 per share, with a total value of $11,500,000.00. Corporate insiders own 4.79% of the company’s stock.
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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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