Lake Street Advisors Group LLC bought a new stake in shares of CSX Co. (NASDAQ:CSX) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 4,242 shares of the transportation company’s stock, valued at approximately $233,000.
Several other large investors have also recently bought and sold shares of CSX. Nationwide Fund Advisors increased its holdings in shares of CSX by 2.3% during the 3rd quarter. Nationwide Fund Advisors now owns 376,906 shares of the transportation company’s stock valued at $20,451,000 after purchasing an additional 8,365 shares in the last quarter. Assetmark Inc. increased its holdings in shares of CSX by 428.3% during the 3rd quarter. Assetmark Inc. now owns 13,535 shares of the transportation company’s stock valued at $735,000 after purchasing an additional 10,973 shares in the last quarter. South State Corp increased its holdings 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 purchasing an additional 6,239 shares in the last quarter. Zeke Capital Advisors LLC increased its holdings in shares of CSX by 210.6% during the 3rd quarter. Zeke Capital Advisors LLC now owns 20,922 shares of the transportation company’s stock valued at $1,135,000 after purchasing an additional 14,185 shares in the last quarter. Finally, Cohen & Steers Inc. increased its holdings in shares of CSX by 31.3% during the 3rd quarter. Cohen & Steers Inc. now owns 1,801,521 shares of the transportation company’s stock valued at $97,751,000 after purchasing an additional 429,795 shares in the last quarter. 75.57% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have recently weighed in on CSX shares. UBS set a $68.00 target price on shares of CSX and gave the company a “buy” rating in a report on Sunday, December 3rd. BidaskClub raised shares of CSX from a “sell” rating to a “hold” rating in a report on Wednesday, December 6th. Barclays reissued a “buy” rating and issued a $68.00 price target on shares of CSX in a report on Wednesday, December 13th. Scotiabank set a $55.00 price target on shares of CSX and gave the stock a “buy” rating in a report on Friday, December 15th. Finally, TD Securities lowered shares of CSX from a “buy” rating to a “hold” rating and cut their price target for the stock from $63.00 to $54.00 in a report on Monday, December 18th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and eighteen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $60.87.
CSX (NASDAQ:CSX) last released its earnings results on Tuesday, January 16th. The transportation company reported $0.64 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.08. CSX had a net margin of 47.96% and a return on equity of 17.16%. The business had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.89 billion. During the same quarter in the prior year, the firm earned $0.49 earnings per share. The company’s revenue for the quarter was down 5.7% compared to the same quarter last year. equities research analysts forecast that CSX Co. will post 3.1 EPS for the current fiscal year.
CSX announced that its board has initiated a share buyback program on Monday, February 12th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the transportation company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st were issued a dividend of $0.22 per share. This is a positive change from CSX’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.62%. CSX’s dividend payout ratio is presently 14.50%.
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CSX Company Profile
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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