Kovitz Investment Group Partners LLC acquired a new stake in shares of CSX Co. (NASDAQ:CSX) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 3,811 shares of the transportation company’s stock, valued at approximately $276,000.
Several other hedge funds have also recently made changes to their positions in CSX. Soroban Capital Partners LP bought a new position in CSX in the 4th quarter worth approximately $497,324,000. Renaissance Technologies LLC lifted its holdings in shares of CSX by 80.5% in the fourth quarter. Renaissance Technologies LLC now owns 4,714,225 shares of the transportation company’s stock worth $341,121,000 after buying an additional 2,102,519 shares in the last quarter. State Street Corp boosted its position in shares of CSX by 5.6% during the fourth quarter. State Street Corp now owns 33,946,217 shares of the transportation company’s stock worth $2,456,348,000 after acquiring an additional 1,795,879 shares during the last quarter. Voya Investment Management LLC boosted its position in shares of CSX by 405.0% during the third quarter. Voya Investment Management LLC now owns 2,119,838 shares of the transportation company’s stock worth $146,841,000 after acquiring an additional 1,700,080 shares during the last quarter. Finally, M&G Investment Management Ltd. bought a new position in shares of CSX during the fourth quarter worth $73,193,000. Hedge funds and other institutional investors own 73.94% of the company’s stock.
CSX has been the topic of a number of research reports. Evercore ISI began coverage on shares of CSX in a report on Thursday. They issued an “outperform” rating and a $68.00 price target on the stock. Zacks Investment Research raised shares of CSX from a “sell” rating to a “hold” rating and set a $58.00 price objective for the company in a report on Wednesday. Cowen restated a “hold” rating and set a $70.00 price objective on shares of CSX in a research report on Thursday, March 19th. Citigroup cut CSX from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $80.00 to $75.00 in a report on Tuesday, December 10th. Finally, Deutsche Bank reduced their target price on CSX from $90.00 to $71.00 and set a “buy” rating on the stock in a report on Thursday, March 12th. Nineteen research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. CSX currently has an average rating of “Hold” and an average price target of $75.77.
CSX opened at $56.53 on Thursday. The stock has a 50-day moving average of $69.01 and a 200 day moving average of $71.04. The company has a current ratio of 1.52, a quick ratio of 1.40 and a debt-to-equity ratio of 1.35. CSX Co. has a 12 month low of $46.81 and a 12 month high of $80.73. The firm has a market cap of $42.95 billion, a P/E ratio of 13.56, a P/E/G ratio of 1.61 and a beta of 1.17.
CSX (NASDAQ:CSX) last issued its quarterly earnings data on Thursday, January 16th. The transportation company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.02. The business had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.94 billion. CSX had a return on equity of 27.49% and a net margin of 27.91%. The company’s quarterly revenue was down 8.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.01 earnings per share. On average, research analysts forecast that CSX Co. will post 4.07 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 28th were given a dividend of $0.26 per share. The ex-dividend date was Thursday, February 27th. This represents a $1.04 annualized dividend and a dividend yield of 1.84%. This is an increase from CSX’s previous quarterly dividend of $0.24. CSX’s payout ratio is currently 24.94%.
CSX Company Profile
CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services, as well as transports intermodal containers and trailers. It transports chemicals, automotive, agricultural and food products, minerals, fertilizers, forest products, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.
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