Argent Trust Co decreased its holdings in CSX Co. (NASDAQ:CSX) by 5.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,461 shares of the transportation company’s stock after selling 1,998 shares during the period. Argent Trust Co’s holdings in CSX were worth $2,327,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of CSX. Capital World Investors grew its stake in shares of CSX by 1,080.6% in the 3rd quarter. Capital World Investors now owns 29,751,204 shares of the transportation company’s stock valued at $2,203,077,000 after buying an additional 27,231,204 shares in the last quarter. Janus Henderson Group PLC boosted its position in CSX by 33.7% during the third quarter. Janus Henderson Group PLC now owns 12,600,194 shares of the transportation company’s stock worth $933,045,000 after purchasing an additional 3,178,806 shares during the period. Oregon Public Employees Retirement Fund boosted its position in CSX by 11,871.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 11,486,719 shares of the transportation company’s stock worth $185,000 after purchasing an additional 11,390,771 shares during the period. Bank of New York Mellon Corp boosted its position in CSX by 2.1% during the third quarter. Bank of New York Mellon Corp now owns 9,482,962 shares of the transportation company’s stock worth $702,214,000 after purchasing an additional 193,133 shares during the period. Finally, Morgan Stanley boosted its position in CSX by 38.8% during the third quarter. Morgan Stanley now owns 8,803,609 shares of the transportation company’s stock worth $651,908,000 after purchasing an additional 2,462,931 shares during the period. Institutional investors own 76.43% of the company’s stock.
Shares of CSX stock opened at $71.13 on Thursday. CSX Co. has a 12 month low of $53.13 and a 12 month high of $76.24. The company has a market cap of $56.63 billion, a PE ratio of 18.52, a price-to-earnings-growth ratio of 1.22 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 (NASDAQ:CSX) last issued its earnings results on Wednesday, January 16th. The transportation company reported $1.01 EPS for the quarter, meeting analysts’ consensus estimates of $1.01. The business had revenue of $3.14 billion during the quarter, compared to analyst estimates of $3.12 billion. CSX had a return on equity of 24.18% and a net margin of 27.01%. CSX’s revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.64 earnings per share. Equities analysts anticipate that CSX Co. will post 4.23 earnings per share for the current fiscal year.
CSX declared that its board has initiated a stock repurchase program on Wednesday, January 16th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the transportation company to repurchase up to 9.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Thursday, February 28th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.35%. This is a positive change from CSX’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Wednesday, February 27th. CSX’s dividend payout ratio is presently 22.92%.
In related news, Director Ridge Lp Mantle sold 1,930,318 shares of the company’s stock in a transaction on Thursday, January 24th. The stock was sold at an average price of $65.01, for a total value of $125,489,973.18. Following the completion of the transaction, the director now directly owns 106 shares in the company, valued at $6,891.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 5.03% of the company’s stock.
A number of equities research analysts have issued reports on CSX shares. Loop Capital set a $85.00 target price on CSX and gave the stock a “buy” rating in a research report on Wednesday, October 17th. Cowen upped their target price on CSX from $74.00 to $77.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 17th. BMO Capital Markets upped their target price on CSX from $77.00 to $80.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 17th. Royal Bank of Canada reaffirmed an “outperform” rating on shares of CSX in a research report on Wednesday, October 17th. Finally, Scotiabank set a $81.00 target price on CSX and gave the stock a “hold” rating in a research report on Wednesday, October 17th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $75.93.
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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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