Benjamin F. Edwards & Company Inc. lowered its stake in CSX Co. (NASDAQ:CSX) by 15.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,671 shares of the transportation company’s stock after selling 878 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in CSX were worth $257,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Oakbrook Investments LLC lifted its holdings in CSX by 8.5% in the third quarter. Oakbrook Investments LLC now owns 70,200 shares of the transportation company’s stock worth $3,809,000 after purchasing an additional 5,500 shares during the period. Canada Pension Plan Investment Board lifted its holdings in CSX by 12.0% in the third quarter. Canada Pension Plan Investment Board now owns 564,878 shares of the transportation company’s stock worth $30,650,000 after purchasing an additional 60,300 shares during the period. Pinebridge Investments L.P. lifted its holdings in CSX by 515.7% in the second quarter. Pinebridge Investments L.P. now owns 8,934 shares of the transportation company’s stock worth $488,000 after purchasing an additional 7,483 shares during the period. Steward Partners Investment Advisory LLC acquired a new stake in CSX in the third quarter worth about $633,000. Finally, South State Corp lifted its holdings in CSX by 36.3% in the 3rd quarter. South State Corp now owns 23,419 shares of the transportation company’s stock valued at $1,271,000 after acquiring an additional 6,239 shares during the last quarter. 70.17% of the stock is owned by institutional investors and hedge funds.
CSX has been the subject of a number of research analyst reports. Zacks Investment Research downgraded shares of CSX from a “hold” rating to a “sell” rating in a report on Tuesday, September 26th. BidaskClub raised shares of CSX from a “hold” rating to a “buy” rating in a report on Wednesday, January 10th. UBS Group set a $68.00 price target on shares of CSX and gave the company a “buy” rating in a report on Friday, November 17th. Credit Suisse Group upped their price target on shares of CSX from $60.00 to $61.00 and gave the company an “outperform” rating in a report on Wednesday, October 18th. Finally, Goldman Sachs Group initiated coverage on shares of CSX in a report on Monday, November 13th. They issued a “sell” rating and a $45.00 price target for the company. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $60.38.
In other CSX news, Director Gary Keith Anderson bought 5,000 shares of the company’s stock in a transaction dated Friday, November 24th. The shares were bought 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 corporate insiders.
Shares of CSX Co. (CSX) opened at $57.49 on Monday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.86 and a current ratio of 1.01. CSX Co. has a 52 week low of $42.88 and a 52 week high of $60.04. The company has a market cap of $51,380.14, a PE ratio of 9.47, a price-to-earnings-growth ratio of 1.42 and a beta of 1.35.
CSX (NASDAQ:CSX) last posted its quarterly earnings data on Tuesday, January 16th. The transportation company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.08. CSX had a net margin of 47.96% and a return on equity of 17.16%. The company had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.89 billion. During the same period in the prior year, the firm earned $0.49 earnings per share. The business’s quarterly revenue was down 5.7% on a year-over-year basis. equities research analysts predict that CSX Co. will post 3.07 EPS for the current fiscal year.
CSX declared that its Board of Directors has authorized a share repurchase 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 often a sign that the company’s board of directors believes its shares are 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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