Norinchukin Bank The boosted its stake in CSX Co. (NASDAQ:CSX) by 42.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 149,354 shares of the transportation company’s stock after buying an additional 44,415 shares during the quarter. Norinchukin Bank The’s holdings in CSX were worth $9,279,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the stock. Laurel Wealth Advisors LLC purchased a new position in CSX in the 4th quarter worth approximately $75,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in CSX by 2.6% in the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 142,732 shares of the transportation company’s stock worth $8,704,000 after purchasing an additional 3,647 shares in the last quarter. Summit Wealth & Retirement Planning Inc. purchased a new position in CSX in the 4th quarter worth approximately $229,000. Karp Capital Management Corp purchased a new position in CSX in the 4th quarter worth approximately $30,000. Finally, Lindbrook Capital LLC purchased a new position in CSX in the 4th quarter worth approximately $183,000. 77.26% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Ridge Lp Mantle sold 1,930,318 shares of CSX stock in a transaction that occurred on Thursday, January 24th. The shares were sold at an average price of $65.01, for a total value of $125,489,973.18. Following the completion of the sale, the director now owns 106 shares in the company, valued at approximately $6,891.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.03% of the stock is currently owned by company insiders.
Shares of NASDAQ CSX opened at $72.57 on Friday. The company has a market cap of $59.93 billion, a PE ratio of 18.90, a PEG ratio of 1.30 and a beta of 1.25. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.34 and a quick ratio of 1.20. CSX Co. has a 1 year low of $53.13 and a 1 year high of $76.24.
CSX (NASDAQ:CSX) last announced its quarterly earnings results on Wednesday, January 16th. The transportation company reported $1.01 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.01. The business had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.12 billion. CSX had a net margin of 27.01% and a return on equity of 24.18%. The business’s revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.64 EPS. On average, sell-side analysts expect that CSX Co. will post 4.23 EPS for the current fiscal year.
CSX announced that its board has authorized a stock buyback plan on Wednesday, January 16th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the transportation company to buy up to 9.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Thursday, February 28th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.32%. The ex-dividend date is Wednesday, February 27th. This is an increase from CSX’s previous quarterly dividend of $0.22. CSX’s dividend payout ratio (DPR) is 22.92%.
A number of research firms have weighed in on CSX. Zacks Investment Research raised shares of CSX from a “hold” rating to a “buy” rating and set a $74.00 target price on the stock in a research note on Monday, February 4th. BidaskClub raised shares of CSX from a “buy” rating to a “strong-buy” rating in a research note on Thursday, February 14th. Loop Capital raised their target price on shares of CSX to $87.00 and gave the stock a “buy” rating in a research note on Thursday, January 17th. Argus decreased their target price on shares of CSX from $84.00 to $71.00 and set a “buy” rating on the stock in a research note on Monday, December 31st. Finally, ValuEngine lowered shares of CSX from a “buy” rating to a “hold” rating in a research note on Wednesday, January 2nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $75.83.
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CSX Company Profile
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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