Jones Financial Companies Lllp raised its holdings in CSX Co. (NASDAQ:CSX) by 10.9% in the 4th quarter, Holdings Channel reports. The firm owned 33,586 shares of the transportation company’s stock after purchasing an additional 3,302 shares during the quarter. Jones Financial Companies Lllp’s holdings in CSX were worth $1,847,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. State of Alaska Department of Revenue raised its position in CSX by 531.2% in 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 purchasing an additional 84,280 shares during the last quarter. New Mexico Educational Retirement Board raised its position in CSX by 4.2% in 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 purchasing an additional 3,500 shares during the last quarter. P.R. Herzig & Co. Inc. bought a new position in CSX in the 4th quarter valued at $718,000. Steward Partners Investment Advisory LLC bought a new stake in shares of CSX during the third quarter worth $633,000. Finally, South State Corp raised its position in shares of CSX by 36.3% during the third quarter. South State Corp now owns 23,419 shares of the transportation company’s stock worth $1,271,000 after acquiring an additional 6,239 shares during the last quarter. Hedge funds and other institutional investors own 75.67% of the company’s stock.
Shares of CSX Co. (NASDAQ:CSX) opened at $57.59 on Tuesday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.81 and a current ratio of 1.01. CSX Co. has a 52 week low of $45.41 and a 52 week high of $60.04. The company has a market capitalization of $51,459.69, a price-to-earnings ratio of 9.49, a P/E/G ratio of 1.40 and a beta of 1.27.
CSX declared that its board has initiated a share repurchase plan on Monday, February 12th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the transportation company to purchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.53%. This is a boost from CSX’s previous quarterly dividend of $0.20. The ex-dividend date is Wednesday, February 28th. CSX’s payout ratio is presently 14.50%.
CSX has been the subject of a number of recent research reports. Goldman Sachs Group initiated coverage on CSX in a research report on Monday, November 13th. They set a “sell” rating and a $45.00 target price for the company. UBS Group set a $68.00 target price on CSX and gave the stock a “buy” rating in a research report on Friday, November 17th. BidaskClub upgraded CSX from a “sell” rating to a “hold” rating in a research report on Wednesday, December 6th. Barclays restated a “buy” rating and set a $68.00 target price on shares of CSX in a research report on Wednesday, December 13th. Finally, Scotiabank set a $55.00 target price on CSX and gave the stock a “buy” rating in a research report on Friday, December 15th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eighteen have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $60.71.
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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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