Asahi Life Asset Management CO. LTD. decreased its position in shares of CSX Co. (NASDAQ:CSX) by 5.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,820 shares of the transportation company’s stock after selling 460 shares during the quarter. Asahi Life Asset Management CO. LTD.’s holdings in CSX were worth $660,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. First Hawaiian Bank grew its position in CSX by 39.3% in the fourth quarter. First Hawaiian Bank now owns 9,738 shares of the transportation company’s stock valued at $605,000 after purchasing an additional 2,746 shares in the last quarter. Contravisory Investment Management Inc. grew its position in CSX by 227.3% in the fourth quarter. Contravisory Investment Management Inc. now owns 648 shares of the transportation company’s stock valued at $40,000 after purchasing an additional 450 shares in the last quarter. DNB Asset Management AS grew its position in CSX by 37.8% in the fourth quarter. DNB Asset Management AS now owns 145,407 shares of the transportation company’s stock valued at $9,034,000 after purchasing an additional 39,886 shares in the last quarter. QUANTRES ASSET MANAGEMENT Ltd grew its position in CSX by 85.0% in the fourth quarter. QUANTRES ASSET MANAGEMENT Ltd now owns 7,400 shares of the transportation company’s stock valued at $460,000 after purchasing an additional 3,400 shares in the last quarter. Finally, Ipswich Investment Management Co. Inc. bought a new position in CSX in the fourth quarter valued at $34,000. 77.64% of the stock is currently owned by institutional investors and hedge funds.
In other CSX news, VP Angela C. Williams sold 9,560 shares of CSX stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $79.14, for a total value of $756,578.40. Following the completion of the sale, the vice president now owns 14,607 shares in the company, valued at approximately $1,155,997.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 4.83% of the stock is owned by insiders.
NASDAQ CSX opened at $77.39 on Thursday. The company has a quick ratio of 1.68, a current ratio of 1.81 and a debt-to-equity ratio of 1.27. The stock has a market cap of $63.31 billion, a PE ratio of 20.15, a P/E/G ratio of 1.31 and a beta of 1.29. CSX Co. has a 52-week low of $58.47 and a 52-week high of $80.73.
CSX (NASDAQ:CSX) last issued its quarterly earnings data on Tuesday, April 16th. The transportation company reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.11. CSX had a net margin of 27.84% and a return on equity of 26.13%. The business had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $3 billion. During the same quarter in the previous year, the company earned $0.78 EPS. The business’s revenue was up 4.8% on a year-over-year basis. As a group, equities research analysts expect that CSX Co. will post 4.34 earnings per share for the current year.
CSX announced that its Board of Directors has authorized a stock repurchase program on Wednesday, January 16th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the transportation company to buy up to 9.1% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend is Thursday, May 30th. CSX’s dividend payout ratio (DPR) is 25.00%.
A number of research analysts have recently commented on CSX shares. Stifel Nicolaus downgraded shares of CSX from a “buy” rating to a “hold” rating and set a $74.00 price objective for the company. in a research report on Wednesday, March 6th. ValuEngine downgraded shares of CSX from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Royal Bank of Canada decreased their price objective on shares of CSX to $80.00 and set an “outperform” rating for the company in a research report on Thursday, January 17th. Zacks Investment Research raised shares of CSX from a “hold” rating to a “buy” rating and set a $73.00 price objective for the company in a research report on Friday, January 18th. Finally, UBS Group cut shares of CSX from a “buy” rating to a “neutral” rating and raised their target price for the stock from $75.00 to $80.00 in a research note on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $79.58.
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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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