Legal & General Group Plc boosted its position in shares of CSX Co. (NASDAQ:CSX) by 5.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,680,770 shares of the transportation company’s stock after buying an additional 256,573 shares during the period. Legal & General Group Plc owned 0.57% of CSX worth $290,816,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hilltop Holdings Inc. increased its holdings in shares of CSX by 1.7% in the fourth quarter. Hilltop Holdings Inc. now owns 8,866 shares of the transportation company’s stock valued at $551,000 after purchasing an additional 149 shares during the period. Bronfman E.L. Rothschild L.P. increased its holdings in shares of CSX by 4.0% in the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 4,023 shares of the transportation company’s stock valued at $250,000 after purchasing an additional 153 shares during the period. Wetherby Asset Management Inc. boosted its stake in shares of CSX by 0.6% in the fourth quarter. Wetherby Asset Management Inc. now owns 26,429 shares of the transportation company’s stock valued at $1,642,000 after buying an additional 158 shares in the last quarter. Parkside Financial Bank & Trust boosted its stake in shares of CSX by 3.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 4,561 shares of the transportation company’s stock valued at $284,000 after buying an additional 164 shares in the last quarter. Finally, Bremer Trust National Association boosted its stake in shares of CSX by 5.1% in the fourth quarter. Bremer Trust National Association now owns 3,609 shares of the transportation company’s stock valued at $224,000 after buying an additional 176 shares in the last quarter. 75.78% of the stock is currently owned by institutional investors.
CSX opened at $73.35 on Friday. The company has a current ratio of 1.34, a quick ratio of 1.20 and a debt-to-equity ratio of 1.17. The firm has a market cap of $60.25 billion, a price-to-earnings ratio of 19.10, a PEG ratio of 1.29 and a beta of 1.29. CSX Co. has a one year low of $53.53 and a one year high of $76.24.
CSX announced that its Board of Directors has initiated a stock buyback plan on Wednesday, January 16th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the transportation company to repurchase up to 9.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 28th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.31%. This is an increase from CSX’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Wednesday, February 27th. CSX’s payout ratio is presently 25.00%.
In other news, Director Ridge Lp Mantle sold 1,930,318 shares of the company’s stock in a transaction on Thursday, January 24th. The stock was sold at an average price of $65.01, for a total value of $125,489,973.18. Following the sale, the director now directly owns 106 shares in the company, valued at $6,891.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.03% of the stock is currently owned by insiders.
A number of analysts recently weighed in on CSX shares. Zacks Investment Research upgraded CSX from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a research note on Thursday, January 3rd. Royal Bank of Canada restated a “buy” rating and issued a $82.00 price target on shares of CSX in a research note on Monday, December 17th. Deutsche Bank lifted their price target on CSX from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, December 3rd. Argus decreased their price target on CSX from $84.00 to $71.00 and set a “buy” rating on the stock in a research note on Monday, December 31st. Finally, Loop Capital lifted their price target on CSX to $87.00 and gave the company a “buy” rating in a research note on Thursday, January 17th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $75.69.
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.
Further Reading: Strangles
Want to see what other hedge funds are holding CSX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CSX Co. (NASDAQ:CSX).
Receive News & Ratings for CSX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CSX and related companies with MarketBeat.com's FREE daily email newsletter.