Sheets Smith Wealth Management acquired a new stake in CSX Co. (NASDAQ:CSX) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 9,776 shares of the transportation company’s stock, valued at approximately $538,000.
Several other hedge funds have also added to or reduced their stakes in CSX. Oakbrook Investments LLC raised its holdings in CSX by 8.5% in the 3rd quarter. Oakbrook Investments LLC now owns 70,200 shares of the transportation company’s stock worth $3,809,000 after acquiring an additional 5,500 shares during the period. Pinebridge Investments L.P. raised its holdings in CSX by 515.7% in the 2nd quarter. Pinebridge Investments L.P. now owns 8,934 shares of the transportation company’s stock worth $488,000 after acquiring an additional 7,483 shares during the period. Canada Pension Plan Investment Board raised its holdings in CSX by 12.0% in the 3rd quarter. Canada Pension Plan Investment Board now owns 564,878 shares of the transportation company’s stock worth $30,650,000 after acquiring an additional 60,300 shares during the period. South State Corp raised its holdings in CSX by 36.3% in the 3rd quarter. South State Corp now owns 23,419 shares of the transportation company’s stock worth $1,271,000 after acquiring an additional 6,239 shares during the period. Finally, Steward Partners Investment Advisory LLC bought a new position in CSX in the 3rd quarter worth $633,000. 70.15% of the stock is owned by institutional investors and hedge funds.
Several research analysts recently commented on CSX shares. UBS Group set a $68.00 target price on shares of CSX and gave the stock a “buy” rating in a report on Monday, October 16th. Aegis reiterated a “buy” rating and issued a $64.00 target price on shares of CSX in a report on Tuesday, October 10th. Barclays restated a “buy” rating and set a $68.00 price objective on shares of CSX in a report on Wednesday, December 13th. Scotiabank set a $55.00 price objective on shares of CSX and gave the stock a “buy” rating in a report on Friday, December 15th. Finally, Robert W. Baird restated a “buy” rating and set a $59.00 price objective on shares of CSX in a report on Tuesday. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $57.28.
In other CSX news, Director Gary Keith Anderson bought 5,000 shares of the firm’s stock in a transaction dated 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 insiders.
Shares of CSX Co. (NASDAQ CSX) opened at $59.25 on Friday. The company has a current ratio of 1.05, a quick ratio of 0.86 and a debt-to-equity ratio of 1.08. CSX Co. has a 12-month low of $36.21 and a 12-month high of $59.76. The firm has a market cap of $52,452.61, a PE ratio of 27.30, a PEG ratio of 1.59 and a beta of 1.35.
CSX (NASDAQ:CSX) last issued its earnings results on Tuesday, October 17th. The transportation company reported $0.51 earnings per share for the quarter, meeting the consensus estimate of $0.51. CSX had a net margin of 15.45% and a return on equity of 17.28%. The business had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.77 billion. During the same period in the previous year, the business earned $0.48 EPS. The firm’s revenue was up 1.2% on a year-over-year basis. analysts anticipate that CSX Co. will post 2.21 earnings per share for the current year.
CSX declared that its board has approved a share buyback plan on Wednesday, October 25th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the transportation company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
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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