Mackenzie Financial Corp bought a new position in CSX Co. (NASDAQ:CSX) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 4,752 shares of the transportation company’s stock, valued at approximately $261,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. First Command Financial Services Inc. grew its stake in shares of CSX by 130.0% in the fourth quarter. First Command Financial Services Inc. now owns 2,123 shares of the transportation company’s stock worth $117,000 after acquiring an additional 1,200 shares during the last quarter. Front Row Advisors LLC acquired a new stake in shares of CSX in the fourth quarter worth $135,000. Pinebridge Investments L.P. boosted its stake in CSX by 93.7% during the fourth quarter. Pinebridge Investments L.P. now owns 3,384 shares of the transportation company’s stock worth $186,000 after buying an additional 1,637 shares in the last quarter. Valeo Financial Advisors LLC acquired a new stake in CSX during the third quarter worth $196,000. Finally, Bridges Investment Management Inc. acquired a new stake in CSX during the fourth quarter worth $206,000. 75.76% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have issued reports on CSX shares. Citigroup reissued a “buy” rating and set a $64.00 price objective on shares of CSX in a report on Wednesday, January 17th. UBS cut their price target on CSX from $74.00 to $72.00 and set a “buy” rating for the company in a report on Wednesday, January 17th. BidaskClub raised CSX from a “hold” rating to a “buy” rating in a report on Wednesday, January 10th. Scotiabank set a $55.00 price objective on CSX and gave the stock a “buy” rating in a report on Friday, December 15th. Finally, Barclays restated a “buy” rating and set a $68.00 target price on shares of CSX in a research report on Wednesday, December 13th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seventeen have given a buy rating to the stock. CSX presently has a consensus rating of “Buy” and a consensus target price of $60.91.
CSX stock traded down $1.25 during mid-day trading on Friday, reaching $54.35. The stock had a trading volume of 5,328,009 shares, compared to its average volume of 6,847,614. The stock has a market capitalization of $49,214.99, a PE ratio of 23.63, a price-to-earnings-growth ratio of 1.35 and a beta of 1.21. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.81 and a current ratio of 1.01. CSX Co. has a fifty-two week low of $46.04 and a fifty-two week high of $60.04.
CSX (NASDAQ:CSX) last announced its earnings results on Tuesday, January 16th. The transportation company reported $0.64 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.08. The company had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.89 billion. CSX had a return on equity of 17.16% and a net margin of 47.96%. CSX’s quarterly revenue was down 5.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.49 earnings per share. research analysts forecast that CSX Co. will post 3.09 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Investors of record on Thursday, March 1st were issued a dividend of $0.22 per share. This is a positive change from CSX’s previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date was Wednesday, February 28th. CSX’s dividend payout ratio (DPR) is 38.26%.
CSX announced that its Board of Directors has initiated a stock buyback plan on Monday, February 12th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the transportation company to purchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.
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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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