Selective Wealth Management Inc. purchased a new position in CSX Co. (NASDAQ:CSX) in the first quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 3,179 shares of the transportation company’s stock, valued at approximately $238,000. CSX accounts for 0.3% of Selective Wealth Management Inc.’s portfolio, making the stock its 23rd largest holding.
Several other large investors also recently modified their holdings of CSX. Cigna Investments Inc. New increased its stake in CSX by 1.1% in the 4th quarter. Cigna Investments Inc. New now owns 26,360 shares of the transportation company’s stock valued at $1,637,000 after buying an additional 276 shares during the period. Suntrust Banks Inc. increased its stake in CSX by 15.2% in the 4th quarter. Suntrust Banks Inc. now owns 342,170 shares of the transportation company’s stock valued at $21,259,000 after buying an additional 45,146 shares during the period. Shelton Capital Management increased its stake in CSX by 33.2% in the 4th quarter. Shelton Capital Management now owns 111,623 shares of the transportation company’s stock valued at $6,935,000 after buying an additional 27,800 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in CSX by 5.3% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 359,815 shares of the transportation company’s stock valued at $22,355,000 after buying an additional 18,062 shares during the period. Finally, Thoroughbred Financial Services LLC acquired a new position in CSX in the 4th quarter valued at approximately $221,000. 77.36% of the stock is owned by institutional investors.
Several research analysts have weighed in on CSX shares. Stifel Nicolaus lowered shares of CSX from a “buy” rating to a “hold” rating and set a $74.00 price objective on the stock. in a research note on Wednesday, March 6th. Zacks Investment Research raised shares of CSX from a “hold” rating to a “buy” rating and set a $70.00 target price for the company in a research report on Thursday, January 3rd. Scotiabank set a $75.00 target price on shares of CSX and gave the stock a “hold” rating in a research report on Tuesday, January 8th. Atlantic Securities started coverage on shares of CSX in a research report on Tuesday, January 8th. They issued an “overweight” rating and a $62.45 target price for the company. Finally, ValuEngine downgraded shares of CSX from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $78.55.
CSX (NASDAQ:CSX) last announced its earnings results on Tuesday, April 16th. The transportation company reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.11. CSX had a net margin of 27.84% and a return on equity of 26.13%. The business had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $3 billion. During the same quarter last year, the company posted $0.78 EPS. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. On average, equities analysts anticipate that CSX Co. will post 4.34 earnings per share for the current year.
CSX declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, January 16th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the transportation company to buy up to 9.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.
In other CSX news, VP Angela C. Williams sold 9,560 shares of the stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $79.14, for a total transaction of $756,578.40. Following the sale, the vice president now owns 14,607 shares of the company’s stock, valued at approximately $1,155,997.98. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 4.83% of the stock is owned by corporate 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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