Tower Research Capital LLC TRC grew its stake in shares of CSX Co. (NASDAQ:CSX) by 88,268.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,441 shares of the transportation company’s stock after acquiring an additional 19,419 shares during the period. Tower Research Capital LLC TRC’s holdings in CSX were worth $1,070,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. First Command Financial Services Inc. increased its stake in CSX by 130.0% during the 4th quarter. First Command Financial Services Inc. now owns 2,123 shares of the transportation company’s stock valued at $117,000 after buying an additional 1,200 shares during the period. Front Row Advisors LLC purchased a new position in shares of CSX in the fourth quarter worth approximately $135,000. IFG Advisory LLC purchased a new position in shares of CSX in the fourth quarter worth approximately $355,000. Americafirst Capital Management LLC purchased a new position in shares of CSX in the third quarter worth approximately $308,000. Finally, Pinebridge Investments L.P. increased its position in shares of CSX by 93.7% in the fourth quarter. Pinebridge Investments L.P. now owns 3,384 shares of the transportation company’s stock worth $186,000 after acquiring an additional 1,637 shares in the last quarter. Hedge funds and other institutional investors own 75.67% of the company’s stock.
CSX Co. (CSX) opened at $57.48 on Wednesday. CSX Co. has a 12 month low of $45.41 and a 12 month high of $60.04. The company has a quick ratio of 0.81, a current ratio of 1.01 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $51,095.93, a P/E ratio of 25.04, a price-to-earnings-growth ratio of 1.39 and a beta of 1.27.
CSX declared that its Board of Directors has approved a share repurchase plan on Monday, February 12th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the transportation company to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st will be given a $0.22 dividend. The ex-dividend date of this dividend is Wednesday, February 28th. This represents a $0.88 annualized dividend and a yield of 1.53%. This is a boost from CSX’s previous quarterly dividend of $0.20. CSX’s payout ratio is currently 14.50%.
CSX has been the subject of several research reports. BidaskClub upgraded shares of CSX from a “hold” rating to a “buy” rating in a report on Wednesday, January 10th. UBS Group set a $68.00 target price on shares of CSX and gave the stock a “buy” rating in a research report on Sunday, December 3rd. Zacks Investment Research raised shares of CSX from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a research report on Friday, January 19th. Morgan Stanley set a $51.00 price target on shares of CSX and gave the company a “sell” rating in a report on Wednesday, January 17th. Finally, Royal Bank of Canada boosted their price target on shares of CSX from $59.00 to $67.00 and gave the company an “outperform” rating in a report on Tuesday, January 9th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eighteen have given a buy rating to the stock. CSX currently has an average rating of “Buy” and a consensus target price of $60.71.
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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