Westpac Banking Corp cut its holdings in CSX Co. (NASDAQ:CSX) by 9.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 58,170 shares of the transportation company’s stock after selling 6,053 shares during the quarter. Westpac Banking Corp’s holdings in CSX were worth $3,200,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Lord Abbett & CO. LLC increased its position in CSX by 29.5% during the second quarter. Lord Abbett & CO. LLC now owns 2,479,799 shares of the transportation company’s stock worth $135,298,000 after acquiring an additional 565,529 shares during the period. Cohen & Steers Inc. increased its position in CSX by 31.3% during the third quarter. Cohen & Steers Inc. now owns 1,801,521 shares of the transportation company’s stock worth $97,751,000 after acquiring an additional 429,795 shares during the period. Bank of Montreal Can increased its position in CSX by 13.0% during the fourth quarter. Bank of Montreal Can now owns 1,567,713 shares of the transportation company’s stock worth $86,240,000 after acquiring an additional 180,925 shares during the period. Russell Investments Group Ltd. increased its holdings in CSX by 10.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,518,838 shares of the transportation company’s stock valued at $82,401,000 after buying an additional 149,208 shares during the period. Finally, Parametric Portfolio Associates LLC increased its holdings in CSX by 4.5% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 2,642,057 shares of the transportation company’s stock valued at $143,358,000 after buying an additional 113,493 shares during the period. Hedge funds and other institutional investors own 69.63% of the company’s stock.
In other news, Director Gary Keith Anderson acquired 5,000 shares of the stock in a transaction on Friday, November 24th. The shares were purchased at an average price of $2,300.00 per share, for a total transaction of $11,500,000.00. 4.79% of the stock is owned by company insiders.
Shares of CSX Co. (NASDAQ CSX) opened at $55.15 on Thursday. CSX Co. has a twelve month low of $45.41 and a twelve month high of $60.04. The stock has a market capitalization of $48,930.00, a price-to-earnings ratio of 9.12, 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 (NASDAQ:CSX) last announced its quarterly earnings results on Tuesday, January 16th. The transportation company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.08. The business 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 company’s quarterly revenue was down 5.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.49 EPS. equities research analysts expect that CSX Co. will post 3.11 earnings per share for the current fiscal year.
CSX declared that its board has initiated a share 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 reacquire shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.
The company 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 dividend of $0.22 per share. This is a boost from CSX’s previous quarterly dividend of $0.20. The ex-dividend date is Wednesday, February 28th. This represents a $0.88 annualized dividend and a yield of 1.60%. CSX’s dividend payout ratio (DPR) is presently 13.22%.
CSX has been the topic of several recent analyst reports. BidaskClub downgraded shares of CSX from a “hold” rating to a “sell” rating in a research note on Thursday, November 2nd. UBS Group set a $68.00 price target on shares of CSX and gave the stock a “buy” rating in a research report on Friday, November 17th. Goldman Sachs Group assumed coverage on shares of CSX in a research report on Monday, November 13th. They set a “sell” rating and a $45.00 price target on the stock. TD Securities downgraded shares of CSX from a “buy” rating to a “hold” rating and cut their target price for the company from $63.00 to $54.00 in a research report on Monday, December 18th. Finally, Zacks Investment Research upgraded shares of CSX from a “sell” rating to a “hold” rating in a research report on Friday, November 3rd. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and seventeen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $60.23.
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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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