OLD Mutual Customised Solutions Proprietary Ltd. raised its position in CSX Corporation (NASDAQ:CSX) by 4.6% during the first quarter, Holdings Channel reports. The fund owned 34,727 shares of the transportation company’s stock after buying an additional 1,527 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd.’s holdings in CSX Corporation were worth $1,617,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of the company. UBS Asset Management Americas Inc. raised its position in CSX Corporation by 6.1% in the fourth quarter. UBS Asset Management Americas Inc. now owns 2,799,536 shares of the transportation company’s stock worth $100,589,000 after buying an additional 162,070 shares during the last quarter. Teachers Advisors LLC raised its position in CSX Corporation by 5.2% in the fourth quarter. Teachers Advisors LLC now owns 2,376,046 shares of the transportation company’s stock worth $85,371,000 after buying an additional 117,828 shares during the last quarter. Kentucky Retirement Systems acquired a new position in CSX Corporation during the fourth quarter worth $2,442,000. Philadelphia Trust Co. raised its position in CSX Corporation by 2.2% in the fourth quarter. Philadelphia Trust Co. now owns 14,089 shares of the transportation company’s stock worth $506,000 after buying an additional 300 shares during the last quarter. Finally, Chevy Chase Trust Holdings Inc. raised its position in CSX Corporation by 1.9% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 847,232 shares of the transportation company’s stock worth $39,439,000 after buying an additional 16,167 shares during the last quarter. Hedge funds and other institutional investors own 69.32% of the company’s stock.
Shares of CSX Corporation (CSX) opened at 49.99 on Friday. The company’s 50-day moving average is $53.23 and its 200 day moving average is $49.64. CSX Corporation has a 52 week low of $27.46 and a 52 week high of $55.48. The stock has a market capitalization of $45.66 billion, a P/E ratio of 26.15 and a beta of 1.32.
CSX Corporation (NASDAQ:CSX) last posted its quarterly earnings data on Tuesday, July 18th. The transportation company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.05. The business had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.85 billion. CSX Corporation had a net margin of 15.46% and a return on equity of 16.93%. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.47 earnings per share. On average, equities analysts forecast that CSX Corporation will post $2.30 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.60%. The ex-dividend date is Tuesday, August 29th. CSX Corporation’s payout ratio is currently 41.88%.
CSX Corporation announced that its board has authorized a stock repurchase program on Thursday, April 20th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the transportation company to reacquire up to 2.2% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
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CSX has been the topic of a number of recent research reports. Stifel Nicolaus boosted their price target on shares of CSX Corporation from $47.00 to $50.00 and gave the stock a “hold” rating in a research report on Thursday, April 20th. FBR & Co restated an “outperform” rating and set a $54.00 price target (up from $48.00) on shares of CSX Corporation in a research report on Thursday, April 20th. BMO Capital Markets restated a “buy” rating and set a $58.00 price target on shares of CSX Corporation in a research report on Friday, April 21st. UBS AG upgraded shares of CSX Corporation from a “market perform” rating to an “outperform” rating in a research report on Friday, April 21st. Finally, Aegis upgraded shares of CSX Corporation from a “hold” rating to a “buy” rating and boosted their price target for the stock from $50.00 to $64.00 in a research report on Friday, April 21st. Twelve analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. CSX Corporation has a consensus rating of “Buy” and a consensus price target of $53.74.
In related news, Director Ridge Lp Mantle acquired 1,357,000 shares of CSX Corporation stock in a transaction that occurred on Friday, July 21st. The stock was acquired at an average price of $51.59 per share, with a total value of $70,007,630.00. Following the completion of the acquisition, the director now directly owns 106 shares of the company’s stock, valued at approximately $5,468.54. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 4.79% of the company’s stock.
About CSX Corporation
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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