Crossmark Global Holdings Inc. lifted its position in CSX Co. (NASDAQ:CSX) by 3.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 109,280 shares of the transportation company’s stock after acquiring an additional 3,140 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in CSX were worth $6,011,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Stephens Inc. AR boosted its position in CSX by 2.2% during the 4th quarter. Stephens Inc. AR now owns 67,915 shares of the transportation company’s stock valued at $3,736,000 after purchasing an additional 1,457 shares during the period. Alps Advisors Inc. acquired a new position in CSX during the 4th quarter valued at approximately $289,000. Calton & Associates Inc. acquired a new position in CSX during the 4th quarter valued at approximately $514,000. Public Employees Retirement Association of Colorado boosted its position in CSX by 2.9% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 170,670 shares of the transportation company’s stock valued at $9,389,000 after purchasing an additional 4,850 shares during the period. Finally, CIBC Asset Management Inc boosted its position in CSX by 2.0% during the 4th quarter. CIBC Asset Management Inc now owns 129,432 shares of the transportation company’s stock valued at $7,120,000 after purchasing an additional 2,563 shares during the period. Institutional investors own 69.63% of the company’s stock.
A number of research analysts recently issued reports on the company. BidaskClub upgraded CSX from a “hold” rating to a “buy” rating in a research report on Wednesday, January 10th. Robert W. Baird reaffirmed a “buy” rating and set a $59.00 target price on shares of CSX in a research note on Tuesday, January 9th. Royal Bank of Canada lifted their target price on CSX from $59.00 to $67.00 and gave the company an “outperform” rating in a research note on Tuesday, January 9th. They noted that the move was a valuation call. Scotiabank downgraded CSX from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $63.00 to $43.00 in a research note on Friday, January 12th. Finally, TD Securities lifted their target price on CSX from $60.00 to $62.00 and gave the company a “hold” rating in a research note on Wednesday, January 17th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and seventeen have assigned a buy rating to the company. CSX presently has an average rating of “Buy” and a consensus price target of $60.23.
CSX (NASDAQ:CSX) last posted its quarterly earnings data on Tuesday, January 16th. The transportation company reported $0.64 EPS for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.08. The company had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.89 billion. CSX had a return on equity of 17.16% and a net margin of 47.96%. The company’s quarterly revenue was down 5.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.49 EPS. research analysts forecast that CSX Co. will post 3.11 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st will be given a dividend of $0.22 per share. The ex-dividend date is Wednesday, February 28th. This is a positive change from CSX’s previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.60%. CSX’s payout ratio is 13.18%.
CSX announced that its Board of Directors has initiated a share repurchase program on Wednesday, October 25th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the transportation company to repurchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
In related news, Director Gary Keith Anderson bought 5,000 shares of the business’s stock in a transaction dated Friday, November 24th. The shares were bought at an average cost of $2,300.00 per share, with a total value of $11,500,000.00. 4.79% of the stock is owned by insiders.
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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