Pratt Collard Advisory Partners LLC purchased a new position in CSX Co. (NASDAQ:CSX) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,090 shares of the transportation company’s stock, valued at approximately $231,000.
Several other institutional investors have also made changes to their positions in CSX. Virtus ETF Advisers LLC grew its stake in shares of CSX by 117.1% in the fourth quarter. Virtus ETF Advisers LLC now owns 445 shares of the transportation company’s stock worth $28,000 after acquiring an additional 240 shares during the period. Larson Financial Group LLC bought a new stake in shares of CSX in the fourth quarter worth approximately $28,000. Liberty Wealth Management LLC bought a new stake in shares of CSX in the fourth quarter worth approximately $28,000. Karp Capital Management Corp bought a new stake in shares of CSX in the fourth quarter worth approximately $30,000. Finally, Highwater Wealth Management LLC bought a new stake in shares of CSX in the fourth quarter worth approximately $31,000. 77.61% of the stock is owned by institutional investors.
Shares of CSX traded down $0.07 during mid-day trading on Wednesday, hitting $78.20. 2,568,062 shares of the company traded hands, compared to its average volume of 4,788,884. CSX Co. has a 1-year low of $58.47 and a 1-year 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 company has a market cap of $63.33 billion, a P/E ratio of 20.36, a price-to-earnings-growth ratio of 1.38 and a beta of 1.29.
CSX (NASDAQ:CSX) last issued its quarterly earnings results on Tuesday, April 16th. The transportation company reported $1.02 earnings per share for the quarter, topping the Thomson Reuters’ 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 company had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $3 billion. During the same quarter in the prior year, the company earned $0.78 EPS. CSX’s quarterly revenue was up 4.8% on a year-over-year basis. On average, research analysts anticipate that CSX Co. will post 4.34 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders 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 1.23%. CSX’s dividend payout ratio is presently 25.00%.
CSX declared that its Board of Directors has authorized a share repurchase plan on Wednesday, January 16th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the transportation company to reacquire up to 9.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.
A number of equities analysts recently issued reports on CSX shares. Atlantic Securities assumed coverage on shares of CSX in a report on Tuesday, January 8th. They issued an “overweight” rating and a $62.45 price objective on the stock. Scotiabank set a $75.00 price target on shares of CSX and gave the company a “hold” rating in a report on Tuesday, January 8th. Zacks Investment Research cut shares of CSX from a “buy” rating to a “hold” rating in a research report on Tuesday, January 15th. Cowen reiterated a “market perform” rating and set a $74.00 price objective (down previously from $77.00) on shares of CSX in a research report on Thursday, January 17th. Finally, Royal Bank of Canada reduced their price objective on shares of CSX to $80.00 and set an “outperform” rating on the stock in a research report on Thursday, January 17th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and twelve have assigned a buy rating to the stock. CSX has an average rating of “Hold” and a consensus price target of $78.55.
In other news, VP Angela C. Williams sold 9,560 shares of the stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $79.14, for a total transaction of $756,578.40. Following the transaction, the vice president now owns 14,607 shares in the company, valued at approximately $1,155,997.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 4.83% of the company’s stock.
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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