BKS Advisors LLC Acquires Shares of 13,625 CSX Co. (CSX)

BKS Advisors LLC acquired a new stake in CSX Co. (NASDAQ:CSX) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 13,625 shares of the transportation company’s stock, valued at approximately $1,019,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in CSX. BlackRock Inc. increased its holdings in CSX by 2.3% in the fourth quarter. BlackRock Inc. now owns 49,404,831 shares of the transportation company’s stock valued at $3,069,519,000 after buying an additional 1,127,467 shares during the last quarter. FMR LLC increased its holdings in CSX by 14.1% in the fourth quarter. FMR LLC now owns 23,161,058 shares of the transportation company’s stock valued at $1,438,997,000 after buying an additional 2,867,186 shares during the last quarter. Oregon Public Employees Retirement Fund increased its holdings in CSX by 11,871.8% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 11,486,719 shares of the transportation company’s stock valued at $185,000 after buying an additional 11,390,771 shares during the last quarter. Geode Capital Management LLC increased its holdings in CSX by 6.6% in the fourth quarter. Geode Capital Management LLC now owns 10,386,802 shares of the transportation company’s stock valued at $644,194,000 after buying an additional 646,745 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in CSX by 2.1% in the fourth quarter. Northern Trust Corp now owns 9,500,242 shares of the transportation company’s stock valued at $590,251,000 after buying an additional 192,907 shares during the last quarter. Institutional investors and hedge funds own 77.36% of the company’s stock.

Shares of CSX traded up $0.10 during mid-day trading on Tuesday, hitting $75.97. 113,281 shares of the company’s stock were exchanged, compared to its average volume of 3,910,822. CSX Co. has a fifty-two week low of $55.95 and a fifty-two week high of $77.15. The company has a market capitalization of $61.79 billion, a price-to-earnings ratio of 19.79, a price-to-earnings-growth ratio of 1.36 and a beta of 1.29. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.20 and a current ratio of 1.34.

CSX (NASDAQ:CSX) last announced its earnings results on Wednesday, January 16th. The transportation company reported $1.01 earnings per share for the quarter, hitting the consensus estimate of $1.01. CSX had a net margin of 27.01% and a return on equity of 24.18%. The business had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.12 billion. During the same quarter in the prior year, the firm earned $0.64 earnings per share. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. Equities research analysts forecast that CSX Co. will post 4.22 EPS for the current year.

CSX announced that its Board of Directors has approved a share buyback plan on Wednesday, January 16th that permits the company to repurchase $5.00 billion in 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 usually an indication that the company’s leadership believes its shares are undervalued.

Several brokerages have issued reports on CSX. UBS Group lowered CSX from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $75.00 to $80.00 in a report on Friday, April 5th. BidaskClub lowered CSX from a “strong-buy” rating to a “buy” rating in a report on Friday, April 5th. Citigroup raised their price objective on CSX from $79.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. SNS Securities lowered CSX from a “positive” rating to a “neutral” rating in a report on Wednesday, April 3rd. Finally, Susquehanna Bancshares reaffirmed a “neutral” rating on shares of CSX in a report on Wednesday, April 3rd. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eleven have given a buy rating to the stock. CSX has a consensus rating of “Hold” and a consensus target price of $75.64.

In other news, Director Ridge Lp Mantle sold 1,930,318 shares of the stock in a transaction dated Thursday, January 24th. The shares were sold at an average price of $65.01, for a total transaction of $125,489,973.18. Following the completion of the sale, the director now owns 106 shares in the company, valued at $6,891.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 4.83% of the stock is currently owned by corporate insiders.

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About CSX

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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Institutional Ownership by Quarter for CSX (NASDAQ:CSX)

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