DAVENPORT & Co LLC boosted its position in CSX Co. (NASDAQ:CSX) by 35.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 95,027 shares of the transportation company’s stock after acquiring an additional 24,901 shares during the quarter. DAVENPORT & Co LLC’s holdings in CSX were worth $5,227,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of the stock. Spirit of America Management Corp NY increased its position in CSX by 10.3% in the 4th quarter. Spirit of America Management Corp NY now owns 20,400 shares of the transportation company’s stock valued at $1,122,000 after buying an additional 1,900 shares in the last quarter. Koshinski Asset Management Inc. increased its position in CSX by 36.1% in the 4th quarter. Koshinski Asset Management Inc. now owns 16,762 shares of the transportation company’s stock valued at $922,000 after buying an additional 4,442 shares in the last quarter. Creative Planning increased its position in CSX by 5.8% in the 4th quarter. Creative Planning now owns 150,480 shares of the transportation company’s stock valued at $8,278,000 after buying an additional 8,190 shares in the last quarter. Community Bank & Trust Waco Texas increased its position in CSX by 12.4% in the 4th quarter. Community Bank & Trust Waco Texas now owns 11,629 shares of the transportation company’s stock valued at $640,000 after buying an additional 1,279 shares in the last quarter. Finally, Gibraltar Capital Management Inc. increased its position in CSX by 4.6% in the 4th quarter. Gibraltar Capital Management Inc. now owns 162,916 shares of the transportation company’s stock valued at $8,962,000 after buying an additional 7,167 shares in the last quarter. 70.17% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have issued reports on CSX shares. UBS Group set a $68.00 price target on CSX and gave the company a “buy” rating in a research note on Monday, October 16th. Aegis reiterated a “buy” rating and set a $64.00 price target on shares of CSX in a research note on Tuesday, October 10th. Barclays reiterated a “buy” rating and set a $68.00 price target on shares of CSX in a research note on Wednesday, December 13th. Scotiabank set a $55.00 price target on CSX and gave the company a “buy” rating in a research note on Friday, December 15th. Finally, Robert W. Baird reiterated a “buy” rating and set a $59.00 price target on shares of CSX in a research note on Tuesday, January 9th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and sixteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $59.08.
CSX Co. (CSX) traded down $1.12 during trading on Wednesday, reaching $58.13. The company had a trading volume of 10,054,800 shares, compared to its average volume of 6,458,470. CSX Co. has a fifty-two week low of $36.21 and a fifty-two week high of $60.04. The company has a current ratio of 1.05, a quick ratio of 0.86 and a debt-to-equity ratio of 1.08. The stock has a market capitalization of $51,700.00, a P/E ratio of 9.58, a price-to-earnings-growth ratio of 1.55 and a beta of 1.35.
CSX (NASDAQ:CSX) last issued its earnings results on Tuesday, January 16th. The transportation company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.08. CSX had a net margin of 15.45% and a return on equity of 17.28%. The business had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.89 billion. During the same quarter in the previous year, the firm posted $0.49 EPS. The business’s revenue for the quarter was down 5.7% compared to the same quarter last year. equities analysts anticipate that CSX Co. will post 2.21 earnings per share for the current year.
CSX declared that its board has authorized a stock repurchase program on Wednesday, October 25th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the transportation company to buy shares of its stock 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 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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