Cramer Rosenthal Mcglynn LLC lowered its stake in shares of CSX Co. (NASDAQ:CSX) by 8.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 935,464 shares of the transportation company’s stock after selling 89,136 shares during the period. Cramer Rosenthal Mcglynn LLC’s holdings in CSX were worth $51,460,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. State of Alaska Department of Revenue raised its position in shares of CSX by 531.2% during the 4th quarter. State of Alaska Department of Revenue now owns 100,147 shares of the transportation company’s stock valued at $5,507,000 after buying an additional 84,280 shares in the last quarter. New Mexico Educational Retirement Board raised its position in shares of CSX by 4.2% during the 4th quarter. New Mexico Educational Retirement Board now owns 87,756 shares of the transportation company’s stock valued at $4,827,000 after buying an additional 3,500 shares in the last quarter. P.R. Herzig & Co. Inc. purchased a new stake in shares of CSX during the 4th quarter valued at $718,000. Steward Partners Investment Advisory LLC purchased a new stake in shares of CSX during the 3rd quarter valued at $633,000. Finally, South State Corp raised its position in shares of CSX by 36.3% during the 3rd quarter. South State Corp now owns 23,419 shares of the transportation company’s stock valued at $1,271,000 after buying an additional 6,239 shares in the last quarter. Hedge funds and other institutional investors own 75.67% of the company’s stock.
CSX has been the topic of several research reports. UBS Group set a $68.00 price objective on shares of CSX and gave the company a “buy” rating in a research report on Friday, November 17th. Goldman Sachs Group initiated coverage on shares of CSX in a research report on Monday, November 13th. They set a “sell” rating and a $45.00 price objective on the stock. TD Securities cut shares of CSX from a “buy” rating to a “hold” rating and lowered their price objective for the company from $63.00 to $54.00 in a research report on Monday, December 18th. Bank of America lowered their price objective on shares of CSX from $67.00 to $66.00 and set a “buy” rating on the stock in a research report on Tuesday, February 13th. Finally, Scotiabank set a $55.00 price objective on shares of CSX and gave the company a “buy” rating in a research report on Friday, December 15th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and eighteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $60.71.
CSX (NASDAQ:CSX) last announced its quarterly earnings results on Tuesday, January 16th. The transportation company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.08. The business had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.89 billion. CSX had a net margin of 47.96% and a return on equity of 17.16%. The company’s revenue was down 5.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.49 EPS. equities analysts expect that CSX Co. will post 3.1 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date is Wednesday, February 28th. This is a positive change from CSX’s previous quarterly dividend of $0.20. CSX’s dividend payout ratio (DPR) is 14.50%.
CSX announced that its Board of Directors has initiated a share repurchase program on Monday, February 12th that permits the company to repurchase $5.00 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 often an indication that the company’s leadership believes its shares are 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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