Nisa Investment Advisors LLC cut its stake in shares of CSX Co. (NASDAQ:CSX) by 3.9% in the 4th quarter, HoldingsChannel reports. The fund owned 445,840 shares of the transportation company’s stock after selling 18,137 shares during the period. Nisa Investment Advisors LLC’s holdings in CSX were worth $24,526,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the company. Captrust Financial Advisors bought a new stake in CSX in the 2nd quarter worth about $390,000. Nationwide Fund Advisors increased its holdings in CSX by 4.2% in the 2nd quarter. Nationwide Fund Advisors now owns 368,541 shares of the transportation company’s stock worth $20,108,000 after buying an additional 14,811 shares in the last quarter. Bahl & Gaynor Inc. increased its holdings in CSX by 17.4% in the 2nd quarter. Bahl & Gaynor Inc. now owns 10,068 shares of the transportation company’s stock worth $362,000 after buying an additional 1,493 shares in the last quarter. Mutual of America Capital Management LLC increased its holdings in CSX by 2.4% in the 2nd quarter. Mutual of America Capital Management LLC now owns 112,810 shares of the transportation company’s stock worth $6,155,000 after buying an additional 2,620 shares in the last quarter. Finally, Abbot Financial Management Inc. bought a new stake in CSX in the 2nd quarter worth about $593,000. Hedge funds and other institutional investors own 70.15% of the company’s stock.
In related news, Director Gary Keith Anderson acquired 5,000 shares of the stock in a transaction dated Friday, November 24th. The shares were purchased at an average cost of $2,300.00 per share, with a total value of $11,500,000.00. 4.79% of the stock is owned by insiders.
CSX (NASDAQ:CSX) last announced its earnings results on Tuesday, October 17th. The transportation company reported $0.51 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.51. CSX had a return on equity of 17.28% and a net margin of 15.45%. The business had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.77 billion. During the same period last year, the firm posted $0.48 earnings per share. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. equities analysts forecast that CSX Co. will post 2.21 earnings per share for the current year.
CSX declared that its board has authorized a share buyback plan on Wednesday, October 25th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the transportation company to purchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.
CSX has been the subject of several research analyst reports. Zacks Investment Research downgraded CSX from a “hold” rating to a “sell” rating in a report on Tuesday, September 26th. UBS Group set a $68.00 price objective on CSX and gave the stock a “buy” rating in a report on Friday, November 17th. BidaskClub downgraded CSX from a “hold” rating to a “sell” rating in a report on Thursday, November 2nd. Credit Suisse Group lifted their price objective on CSX from $60.00 to $61.00 and gave the stock an “outperform” rating in a report on Wednesday, October 18th. Finally, Goldman Sachs Group initiated coverage on CSX in a report on Monday, November 13th. They issued a “sell” rating and a $45.00 price objective for the company. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and sixteen have assigned a buy rating to the stock. CSX has an average rating of “Buy” and an average price target of $57.28.
CSX Company Profile
CSX Corporation is a transportation company. The Company provides rail-based freight transportation services, including traditional rail service and transport of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations.
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