Actinver Wealth Management Inc. purchased a new stake in CSX Co. (NASDAQ:CSX) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,737 shares of the transportation company’s stock, valued at approximately $368,000.
Several other hedge funds have also added to or reduced their stakes in the company. Cigna Investments Inc. New boosted its position in CSX by 1.1% during the fourth quarter. Cigna Investments Inc. New now owns 26,360 shares of the transportation company’s stock worth $1,637,000 after acquiring an additional 276 shares during the last quarter. Suntrust Banks Inc. raised its stake in CSX by 15.2% during the fourth quarter. Suntrust Banks Inc. now owns 342,170 shares of the transportation company’s stock worth $21,259,000 after purchasing an additional 45,146 shares during the period. Shelton Capital Management raised its stake in CSX by 33.2% during the fourth quarter. Shelton Capital Management now owns 111,623 shares of the transportation company’s stock worth $6,935,000 after purchasing an additional 27,800 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in CSX by 5.3% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 359,815 shares of the transportation company’s stock worth $22,355,000 after purchasing an additional 18,062 shares during the period. Finally, Thoroughbred Financial Services LLC purchased a new position in CSX during the fourth quarter worth approximately $221,000. Institutional investors and hedge funds own 77.36% of the company’s stock.
CSX has been the topic of a number of recent analyst reports. Citigroup increased their price target on shares of CSX from $79.00 to $86.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th. Argus reaffirmed a “buy” rating and set a $71.00 price target on shares of CSX in a research note on Friday, January 18th. Loop Capital increased their price target on shares of CSX to $87.00 and gave the stock a “buy” rating in a research note on Thursday, January 17th. Stifel Nicolaus downgraded shares of CSX from a “buy” rating to a “hold” rating and set a $74.00 target price on the stock. in a research note on Wednesday, March 6th. Finally, Morgan Stanley raised their target price on shares of CSX from $55.00 to $56.00 and gave the company an “underweight” rating in a research note on Monday, January 7th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eleven have given a buy rating to the stock. CSX has a consensus rating of “Hold” and an average price target of $78.23.
CSX (NASDAQ:CSX) last released its quarterly earnings results on Tuesday, April 16th. The transportation company reported $1.02 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.11. The business had revenue of $3.01 billion during the quarter, compared to analyst estimates of $3 billion. CSX had a net margin of 27.84% and a return on equity of 26.13%. The business’s revenue was up 4.8% on a year-over-year basis. During the same period last year, the business earned $0.78 EPS. Equities research analysts expect that CSX Co. will post 4.32 EPS for the current fiscal year.
CSX declared that its Board of Directors has authorized a stock buyback program on Wednesday, January 16th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the transportation company to purchase up to 9.1% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
In other CSX news, Director Ridge Lp Mantle sold 1,930,318 shares of the firm’s stock in a transaction on 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 completion of the transaction, the director now directly owns 106 shares of the company’s stock, valued at approximately $6,891.06. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.83% of the stock is owned by company insiders.
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CSX Company 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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