CSX Co. (CSX) Stake Lessened by Clearbridge LLC

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Clearbridge LLC cut its holdings in CSX Co. (NASDAQ:CSX) by 35.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,618 shares of the transportation company’s stock after selling 870 shares during the quarter. Clearbridge LLC’s holdings in CSX were worth $101,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in CSX. Highwater Wealth Management LLC acquired a new stake in shares of CSX during the 4th quarter worth about $31,000. Virtus ETF Advisers LLC increased its position in shares of CSX by 117.1% during the 4th quarter. Virtus ETF Advisers LLC now owns 445 shares of the transportation company’s stock worth $28,000 after purchasing an additional 240 shares during the last quarter. Larson Financial Group LLC acquired a new stake in shares of CSX during the 4th quarter worth about $28,000. Karp Capital Management Corp acquired a new stake in shares of CSX during the 4th quarter worth about $30,000. Finally, Moody National Bank Trust Division acquired a new stake in shares of CSX during the 4th quarter worth about $34,000. Institutional investors and hedge funds own 75.84% of the company’s stock.

Shares of CSX opened at $73.00 on Friday. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.34 and a quick ratio of 1.20. The stock has a market capitalization of $59.45 billion, a PE ratio of 19.01, a P/E/G ratio of 1.29 and a beta of 1.29. CSX Co. has a 1 year low of $53.53 and a 1 year high of $76.24.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Wednesday, January 16th. The transportation company reported $1.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.01. The business had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $3.12 billion. CSX had a return on equity of 24.18% and a net margin of 27.01%. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.64 EPS. As a group, sell-side analysts expect that CSX Co. will post 4.23 EPS for the current year.

CSX announced that its board has authorized a stock repurchase program on Wednesday, January 16th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the transportation company to reacquire up to 9.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Thursday, February 28th will be paid a dividend of $0.24 per share. This is a boost from CSX’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Wednesday, February 27th. This represents a $0.96 annualized dividend and a yield of 1.32%. CSX’s payout ratio is presently 25.00%.

In related news, Director Ridge Lp Mantle sold 1,930,318 shares of the business’s stock in a transaction that occurred on Thursday, January 24th. The stock was sold at an average price of $65.01, for a total transaction of $125,489,973.18. Following the completion of the sale, the director now owns 106 shares in the company, valued at $6,891.06. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 5.03% of the stock is owned by insiders.

A number of brokerages recently commented on CSX. Stifel Nicolaus cut CSX from a “buy” rating to a “hold” rating and set a $74.00 target price for the company. in a report on Wednesday, March 6th. ValuEngine cut CSX from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Zacks Investment Research cut CSX from a “buy” rating to a “hold” rating in a report on Thursday, February 28th. Royal Bank of Canada cut CSX from an “outperform” rating to a “sector perform” rating and set a $78.00 target price for the company. in a report on Tuesday, February 19th. Finally, BidaskClub upgraded CSX from a “buy” rating to a “strong-buy” rating in a report on Thursday, February 14th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. CSX currently has a consensus rating of “Buy” and an average price target of $75.69.

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CSX Profile

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services, as well as transports intermodal containers and trailers. It transports chemicals, automotive, agricultural and food products, minerals, fertilizers, forest products, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.

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Institutional Ownership by Quarter for CSX (NASDAQ:CSX)

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