ArrowMark Colorado Holdings LLC decreased its holdings in CSX Co. (NASDAQ:CSX) by 39.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 168,337 shares of the transportation company’s stock after selling 111,250 shares during the period. ArrowMark Colorado Holdings LLC’s holdings in CSX were worth $9,260,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the company. Nationwide Fund Advisors increased its holdings in CSX by 2.3% in the third quarter. Nationwide Fund Advisors now owns 376,906 shares of the transportation company’s stock worth $20,451,000 after buying an additional 8,365 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in CSX by 10.9% in the third quarter. Russell Investments Group Ltd. now owns 1,518,838 shares of the transportation company’s stock worth $82,401,000 after buying an additional 149,208 shares during the last quarter. SG Americas Securities LLC acquired a new position in CSX in the third quarter worth approximately $4,456,000. Pacer Advisors Inc. increased its holdings in CSX by 13.1% in the third quarter. Pacer Advisors Inc. now owns 36,018 shares of the transportation company’s stock worth $1,954,000 after buying an additional 4,177 shares during the last quarter. Finally, Assetmark Inc. increased its holdings in CSX by 428.3% in the third quarter. Assetmark Inc. now owns 13,535 shares of the transportation company’s stock worth $735,000 after buying an additional 10,973 shares during the last quarter. Institutional investors own 75.76% of the company’s stock.
Several brokerages have commented on CSX. BidaskClub upgraded CSX from a “hold” rating to a “buy” rating in a report on Friday, March 23rd. Scotiabank set a $63.00 price target on CSX and gave the company a “hold” rating in a report on Wednesday, January 17th. UBS set a $72.00 price target on CSX and gave the company a “buy” rating in a report on Friday, March 2nd. Deutsche Bank set a $70.00 price target on CSX and gave the company a “buy” rating in a report on Sunday, March 4th. Finally, Cowen reiterated a “market perform” rating and set a $61.00 price target (up previously from $54.00) on shares of CSX in a report on Wednesday, January 17th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and seventeen have given a buy rating to the stock. CSX has a consensus rating of “Buy” and an average target price of $60.87.
Shares of CSX traded down $0.97 during mid-day trading on Monday, hitting $54.74. The company’s stock had a trading volume of 5,756,037 shares, compared to its average volume of 6,927,560. CSX Co. has a one year low of $46.04 and a one year high of $60.04. The company has a current ratio of 1.01, a quick ratio of 0.81 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $49,427.92, a price-to-earnings ratio of 23.80, a P/E/G ratio of 1.35 and a beta of 1.20.
CSX (NASDAQ:CSX) last posted its quarterly earnings data on Tuesday, January 16th. The transportation company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.08. CSX had a return on equity of 17.16% and a net margin of 47.96%. The company had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.89 billion. During the same period in the prior year, the business earned $0.49 earnings per share. CSX’s revenue for the quarter was down 5.7% compared to the same quarter last year. equities analysts predict that CSX Co. will post 3.1 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, March 15th. Investors of record on Thursday, March 1st were given a $0.22 dividend. This is a boost from CSX’s previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a yield of 1.61%. The ex-dividend date was Wednesday, February 28th. CSX’s dividend payout ratio (DPR) is 38.26%.
CSX declared that its Board of Directors has approved a stock repurchase program on Monday, February 12th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the transportation company to purchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.
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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