Chartwell Investment Partners LLC increased its stake in shares of CSX Co. (NASDAQ:CSX) by 26.0% during the 4th quarter, HoldingsChannel reports. The fund owned 113,544 shares of the transportation company’s stock after purchasing an additional 23,414 shares during the quarter. Chartwell Investment Partners LLC’s holdings in CSX were worth $7,054,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Whitener Capital Management Inc. acquired a new stake in CSX during the 3rd quarter worth $196,000. Korea Investment CORP raised its stake in CSX by 51.5% during the 3rd quarter. Korea Investment CORP now owns 877,711 shares of the transportation company’s stock worth $64,994,000 after acquiring an additional 298,198 shares in the last quarter. Suffolk Capital Management LLC acquired a new position in CSX in the third quarter valued at $12,597,000. Captrust Financial Advisors increased its stake in CSX by 33.4% in the third quarter. Captrust Financial Advisors now owns 10,219 shares of the transportation company’s stock valued at $757,000 after purchasing an additional 2,560 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its stake in CSX by 503.0% in the third quarter. Robeco Institutional Asset Management B.V. now owns 292,877 shares of the transportation company’s stock valued at $21,689,000 after purchasing an additional 244,306 shares during the period. Hedge funds and other institutional investors own 75.11% of the company’s stock.
A number of research firms have commented on CSX. Zacks Investment Research lowered shares of CSX from a “buy” rating to a “hold” rating in a research note on Tuesday. Cowen lifted their price objective on shares of CSX from $74.00 to $77.00 and gave the company a “market perform” rating in a research note on Wednesday, October 17th. Credit Suisse Group dropped their price objective on shares of CSX from $86.00 to $79.00 and set an “outperform” rating on the stock in a research note on Monday, January 7th. TD Securities lifted their price objective on shares of CSX from $76.00 to $80.00 and gave the company a “hold” rating in a research note on Wednesday, October 17th. Finally, BidaskClub upgraded shares of CSX from a “hold” rating to a “buy” rating in a research note on Friday, November 2nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $75.93.
In related news, Director Ridge Lp Mantle sold 1,930,318 shares of the business’s stock in a transaction dated Thursday, January 24th. The shares were sold at an average price of $65.01, for a total transaction of $125,489,973.18. Following the sale, the director now owns 106 shares of the company’s stock, valued at $6,891.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.03% of the stock is currently owned by insiders.
CSX stock opened at $68.27 on Wednesday. The stock has a market cap of $56.93 billion, a P/E ratio of 17.78, a P/E/G ratio of 1.20 and a beta of 1.25. CSX Co. has a 52 week low of $48.43 and a 52 week high of $76.24. The company has a current ratio of 1.34, a quick ratio of 1.29 and a debt-to-equity ratio of 1.17.
CSX (NASDAQ:CSX) last released its quarterly earnings data on Wednesday, January 16th. The transportation company reported $1.01 EPS for the quarter, hitting analysts’ consensus estimates of $1.01. The firm had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $3.12 billion. CSX had a net margin of 27.01% and a return on equity of 24.18%. The firm’s revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.64 earnings per share. On average, equities analysts predict that CSX Co. will post 4.22 earnings per share for the current year.
CSX announced that its board has approved a share repurchase program on Wednesday, January 16th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the transportation company to reacquire up to 9.1% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.
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CSX Company Profile
CSX Corporation, together with its subsidiaries, provides rail-based transportation services in the United States and Canada. The company offers rail services, as well as transports intermodal containers and trailers. It transports agricultural and food products, fertilizers, chemicals, automotive, metals and equipment, minerals, and forest products; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.
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