Smith & Howard Wealth Management LLC bought a new position in shares of CSX Co. (NASDAQ:CSX) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,000 shares of the transportation company’s stock, valued at approximately $224,000.
Several other institutional investors have also modified their holdings of the stock. BlackRock Inc. lifted its stake in shares of CSX by 2.3% in the fourth quarter. BlackRock Inc. now owns 49,404,831 shares of the transportation company’s stock worth $3,069,519,000 after buying an additional 1,127,467 shares in the last quarter. FMR LLC raised its stake in CSX by 14.1% during the fourth quarter. FMR LLC now owns 23,161,058 shares of the transportation company’s stock worth $1,438,997,000 after purchasing an additional 2,867,186 shares during the period. Oregon Public Employees Retirement Fund raised its stake in CSX by 11,871.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 11,486,719 shares of the transportation company’s stock worth $185,000 after purchasing an additional 11,390,771 shares during the period. Geode Capital Management LLC raised its stake in CSX by 6.6% during the fourth quarter. Geode Capital Management LLC now owns 10,386,802 shares of the transportation company’s stock worth $644,194,000 after purchasing an additional 646,745 shares during the period. Finally, Northern Trust Corp raised its stake in CSX by 2.1% during the fourth quarter. Northern Trust Corp now owns 9,500,242 shares of the transportation company’s stock worth $590,251,000 after purchasing an additional 192,907 shares during the period. 77.61% of the stock is owned by hedge funds and other institutional investors.
In other news, VP Angela C. Williams sold 9,560 shares of the company’s stock in a transaction on Thursday, April 18th. The shares were sold at an average price of $79.14, for a total transaction of $756,578.40. Following the transaction, the vice president now directly owns 14,607 shares of the company’s stock, valued at approximately $1,155,997.98. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 4.83% of the stock is currently owned by corporate insiders.
Shares of CSX stock opened at $78.69 on Friday. CSX Co. has a 12-month low of $58.47 and a 12-month high of $80.73. The company has a quick ratio of 1.68, a current ratio of 1.81 and a debt-to-equity ratio of 1.27. The firm has a market capitalization of $63.25 billion, a PE ratio of 20.49, a P/E/G ratio of 1.34 and a beta of 1.29.
CSX (NASDAQ:CSX) last released its quarterly earnings results on Tuesday, April 16th. The transportation company reported $1.02 EPS for the quarter, beating the consensus estimate of $0.91 by $0.11. CSX had a net margin of 27.84% and a return on equity of 26.13%. The firm had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $3 billion. During the same quarter in the prior year, the firm earned $0.78 EPS. CSX’s revenue for the quarter was up 4.8% on a year-over-year basis. As a group, research analysts expect that CSX Co. will post 4.34 earnings per share for the current year.
CSX announced that its board has initiated a stock buyback program on Wednesday, January 16th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the transportation company to purchase up to 9.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be given a $0.24 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $0.96 annualized dividend and a yield of 1.22%. CSX’s dividend payout ratio (DPR) is 25.00%.
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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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