Clean Yield Group purchased a new stake in shares of CSX Co. (NASDAQ:CSX) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 4,293 shares of the transportation company’s stock, valued at approximately $267,000.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Kanawha Capital Management LLC increased its position in shares of CSX by 284.9% in the fourth quarter. Kanawha Capital Management LLC now owns 15,618 shares of the transportation company’s stock worth $970,000 after purchasing an additional 11,560 shares during the last quarter. Boenning & Scattergood Inc. boosted its stake in CSX by 1.1% in the fourth quarter. Boenning & Scattergood Inc. now owns 18,963 shares of the transportation company’s stock worth $1,178,000 after buying an additional 200 shares in the last quarter. BB&T Corp boosted its stake in CSX by 53.0% in the fourth quarter. BB&T Corp now owns 101,921 shares of the transportation company’s stock worth $6,333,000 after buying an additional 35,306 shares in the last quarter. NewSquare Capital LLC boosted its stake in CSX by 1,298.7% in the fourth quarter. NewSquare Capital LLC now owns 1,077 shares of the transportation company’s stock worth $67,000 after buying an additional 1,000 shares in the last quarter. Finally, Farmers & Merchants Trust Co of Chambersburg PA boosted its stake in CSX by 8.3% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 3,900 shares of the transportation company’s stock worth $242,000 after buying an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 75.11% of the company’s stock.
CSX opened at $65.08 on Thursday. The company has a quick ratio of 1.29, a current ratio of 1.34 and a debt-to-equity ratio of 1.17. The firm has a market capitalization of $55.59 billion, a price-to-earnings ratio of 16.95, a PEG ratio of 1.17 and a beta of 1.33. CSX Co. has a 12-month low of $48.43 and a 12-month high of $76.24.
CSX (NASDAQ:CSX) last issued its quarterly earnings results on Wednesday, January 16th. The transportation company reported $1.01 earnings per share for the quarter, meeting the consensus estimate of $1.01. CSX had a return on equity of 24.18% and a net margin of 27.01%. The firm had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.12 billion. During the same period last year, the company earned $0.64 earnings per share. The company’s revenue was up 9.8% on a year-over-year basis. On average, equities analysts predict that CSX Co. will post 4.22 earnings per share for the current year.
CSX announced that its board has approved a stock repurchase plan on Wednesday, January 16th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the transportation company to purchase up to 9.1% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its stock is undervalued.
Several analysts have issued reports on CSX shares. Loop Capital upped their target price on CSX to $87.00 and gave the stock a “buy” rating in a research note on Thursday, January 17th. Zacks Investment Research downgraded CSX from a “buy” rating to a “hold” rating in a report on Monday. Wolfe Research downgraded CSX from an “outperform” rating to a “market perform” rating in a report on Friday, January 4th. Argus restated a “buy” rating and set a $71.00 target price on shares of CSX in a report on Friday, January 18th. Finally, Atlantic Securities started coverage on CSX in a report on Tuesday, January 8th. They set an “overweight” rating and a $62.45 target price for the company. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $75.88.
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CSX Corporation, together with its subsidiaries, provides rail-based transportation services in the United States and Canada. The company offers rail services, as well as transports intermodal containers and trailers. It transports agricultural and food products, fertilizers, chemicals, automotive, metals and equipment, minerals, and forest products; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.
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