Wetherby Asset Management Inc. increased its holdings in shares of CSX Co. (NASDAQ:CSX) by 4.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 23,456 shares of the transportation company’s stock after purchasing an additional 1,073 shares during the quarter. Wetherby Asset Management Inc.’s holdings in CSX were worth $1,290,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Wealthfront Inc. grew its stake in shares of CSX by 6.4% during the 4th quarter. Wealthfront Inc. now owns 27,391 shares of the transportation company’s stock worth $1,507,000 after acquiring an additional 1,654 shares in the last quarter. Clifford Swan Investment Counsel LLC grew its stake in shares of CSX by 63.9% during the 4th quarter. Clifford Swan Investment Counsel LLC now owns 12,829 shares of the transportation company’s stock worth $706,000 after acquiring an additional 5,000 shares in the last quarter. SNS Financial Group LLC bought a new position in shares of CSX during the 4th quarter worth approximately $206,000. Taylor Hoffman Wealth Management bought a new position in shares of CSX during the 4th quarter worth approximately $870,000. Finally, Virtu Financial LLC grew its stake in shares of CSX by 496.4% during the 4th quarter. Virtu Financial LLC now owns 26,820 shares of the transportation company’s stock worth $1,476,000 after acquiring an additional 22,323 shares in the last quarter. 69.50% of the stock is owned by institutional investors and hedge funds.
Shares of CSX Co. (NASDAQ CSX) opened at $56.10 on Monday. CSX Co. has a twelve month low of $45.41 and a twelve month high of $60.04. The company has a current ratio of 1.01, a quick ratio of 0.81 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $49,773.94, a price-to-earnings ratio of 9.24, a PEG ratio of 1.36 and a beta of 1.26.
CSX declared that its Board of Directors has approved a share buyback program on Wednesday, October 25th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the transportation company to buy shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st will be issued a dividend of $0.22 per share. The ex-dividend date is Wednesday, February 28th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.57%. This is an increase from CSX’s previous quarterly dividend of $0.20. CSX’s dividend payout ratio (DPR) is currently 13.18%.
In related news, Director Gary Keith Anderson purchased 5,000 shares of the firm’s stock in a transaction that occurred on Friday, November 24th. The shares were bought at an average price 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.
Several equities analysts have recently weighed in on CSX shares. Zacks Investment Research raised shares of CSX from a “sell” rating to a “hold” rating in a research note on Friday, October 27th. BidaskClub cut shares of CSX from a “hold” rating to a “sell” rating in a research note on Thursday, November 2nd. Goldman Sachs Group started coverage on shares of CSX in a research note on Monday, November 13th. They set a “sell” rating and a $45.00 price target for the company. UBS Group set a $68.00 price target on shares of CSX and gave the stock a “buy” rating in a research note on Friday, November 17th. Finally, Barclays reaffirmed a “buy” rating and set a $68.00 price target on shares of CSX in a research note on Wednesday, December 13th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seventeen have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $60.23.
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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