Tokio Marine Asset Management Co. Ltd. lessened its holdings in CSX Co. (NASDAQ:CSX) by 28.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,770 shares of the transportation company’s stock after selling 2,262 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in CSX were worth $317,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in CSX. Advisory Services Network LLC grew its holdings in CSX by 2.6% in the second quarter. Advisory Services Network LLC now owns 21,741 shares of the transportation company’s stock worth $1,186,000 after purchasing an additional 557 shares during the period. Lord Abbett & CO. LLC grew its holdings in shares of CSX by 29.5% during the second quarter. Lord Abbett & CO. LLC now owns 2,479,799 shares of the transportation company’s stock valued at $135,298,000 after buying an additional 565,529 shares during the last quarter. Oakbrook Investments LLC grew its holdings in shares of CSX by 8.5% during the third quarter. Oakbrook Investments LLC now owns 70,200 shares of the transportation company’s stock valued at $3,809,000 after buying an additional 5,500 shares during the last quarter. Augustine Asset Management Inc. grew its holdings in shares of CSX by 584.9% during the third quarter. Augustine Asset Management Inc. now owns 31,161 shares of the transportation company’s stock valued at $1,690,000 after buying an additional 26,611 shares during the last quarter. Finally, Nationwide Fund Advisors grew its holdings in shares of CSX by 2.3% during the third quarter. Nationwide Fund Advisors now owns 376,906 shares of the transportation company’s stock valued at $20,451,000 after buying an additional 8,365 shares during the last quarter. Institutional investors and hedge funds own 69.94% of the company’s stock.
Shares of CSX Co. (NASDAQ CSX) opened at $50.89 on Friday. CSX Co. has a fifty-two week low of $45.41 and a fifty-two week high of $60.04. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.01 and a quick ratio of 0.86. The stock has a market cap of $44,778.80, a P/E ratio of 21.94, a P/E/G ratio of 1.22 and a beta of 1.26.
CSX declared that its board has authorized a stock buyback program on Wednesday, October 25th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the transportation company to purchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
In other CSX news, Director Gary Keith Anderson purchased 5,000 shares of the firm’s stock in a transaction on Friday, November 24th. The shares were acquired at an average cost of $2,300.00 per share, for a total transaction of $11,500,000.00. 4.79% of the stock is currently owned by company insiders.
CSX has been the topic of a number of recent analyst reports. BidaskClub cut shares of CSX from a “hold” rating to a “sell” rating in a report on Thursday, November 2nd. UBS Group set a $68.00 price target on shares of CSX and gave the company a “buy” rating in a report on Friday, November 17th. Goldman Sachs Group initiated coverage on shares of CSX in a report on Monday, November 13th. They set a “sell” rating and a $45.00 price target on the stock. TD Securities cut shares of CSX from a “buy” rating to a “hold” rating and cut their price target for the company from $63.00 to $54.00 in a report on Monday, December 18th. Finally, Zacks Investment Research upgraded shares of CSX from a “sell” rating to a “hold” rating in a report on Friday, November 3rd. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seventeen have given a buy rating to the company. CSX has a consensus rating of “Buy” and an average price target of $60.38.
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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