Wesbanco Bank Inc. decreased its position in CSX Co. (NASDAQ:CSX) by 1.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,910 shares of the transportation company’s stock after selling 255 shares during the period. Wesbanco Bank Inc.’s holdings in CSX were worth $1,610,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Highwater Wealth Management LLC purchased a new position in CSX in the fourth quarter valued at approximately $31,000. Moody National Bank Trust Division purchased a new position in CSX in the fourth quarter valued at approximately $34,000. Ipswich Investment Management Co. Inc. purchased a new position in CSX in the fourth quarter valued at approximately $34,000. Baystate Wealth Management LLC lifted its stake in CSX by 219.9% in the fourth quarter. Baystate Wealth Management LLC now owns 611 shares of the transportation company’s stock valued at $41,000 after purchasing an additional 420 shares during the last quarter. Finally, Contravisory Investment Management Inc. lifted its stake 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 during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.
Several equities analysts recently commented on CSX shares. Loop Capital upped their price objective on CSX to $87.00 and gave the company a “buy” rating in a research note on Thursday, January 17th. Zacks Investment Research cut shares of CSX from a “buy” rating to a “hold” rating in a report on Monday, January 21st. Wolfe Research cut shares of CSX from an “outperform” rating to a “market perform” rating in a report on Friday, January 4th. Argus reissued a “buy” rating and set a $71.00 target price on shares of CSX in a report on Friday, January 18th. Finally, Atlantic Securities started coverage on shares of CSX in a report on Tuesday, January 8th. They set an “overweight” rating and a $62.45 target price on the stock. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the company. CSX has an average rating of “Buy” and an average price target of $75.93.
Shares of CSX stock traded up $0.92 during trading on Monday, hitting $69.67. The stock had a trading volume of 171,958 shares, compared to its average volume of 5,554,123. The stock has a market cap of $56.25 billion, a P/E ratio of 18.24, a PEG ratio of 1.22 and a beta of 1.25. CSX Co. has a 12 month low of $48.43 and a 12 month high of $76.24. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.20 and a current ratio of 1.34.
CSX (NASDAQ:CSX) last released its quarterly earnings results on Wednesday, January 16th. The transportation company reported $1.01 earnings per share for the quarter, hitting the consensus estimate of $1.01. The firm had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $3.12 billion. CSX had a net margin of 27.01% and a return on equity of 24.18%. The business’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.64 earnings per share. Sell-side analysts predict that CSX Co. will post 4.23 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Thursday, February 28th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, February 27th. This represents a $0.96 annualized dividend and a dividend yield of 1.38%. This is a boost from CSX’s previous quarterly dividend of $0.22. CSX’s dividend payout ratio is presently 22.92%.
CSX declared that its board has authorized a stock repurchase program on Wednesday, January 16th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the transportation company to buy up to 9.1% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its stock is undervalued.
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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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