CSX Co. (CSX) Shares Bought by Wilbanks Smith & Thomas Asset Management LLC
Wilbanks Smith & Thomas Asset Management LLC increased its position in shares of CSX Co. (NASDAQ:CSX) by 74.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,211 shares of the transportation company’s stock after purchasing an additional 3,494 shares during the quarter. Wilbanks Smith & Thomas Asset Management LLC’s holdings in CSX were worth $452,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in CSX. First Command Financial Services Inc. lifted its stake in CSX by 130.0% during the fourth quarter. First Command Financial Services Inc. now owns 2,123 shares of the transportation company’s stock worth $117,000 after purchasing an additional 1,200 shares during the last quarter. Front Row Advisors LLC bought a new stake in CSX in the fourth quarter valued at $135,000. Valeo Financial Advisors LLC bought a new stake in CSX in the third quarter valued at $196,000. St. Louis Trust Co bought a new stake in CSX in the fourth quarter valued at $209,000. Finally, Tower View Investment Management & Research LLC bought a new stake in CSX in the fourth quarter valued at $264,000. Hedge funds and other institutional investors own 69.63% of the company’s stock.
A number of equities research analysts have issued reports on CSX shares. Scotiabank cut CSX from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $63.00 to $43.00 in a research note on Friday, January 12th. BidaskClub upgraded CSX from a “hold” rating to a “buy” rating in a research note on Wednesday, January 10th. Zacks Investment Research upgraded CSX from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a research note on Friday, January 19th. Royal Bank of Canada raised their target price on CSX from $59.00 to $67.00 and gave the company an “outperform” rating in a research note on Tuesday, January 9th. They noted that the move was a valuation call. Finally, Citigroup reiterated a “buy” rating and issued a $64.00 target price on shares of CSX in a research note on Wednesday, January 17th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and seventeen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $60.19.
CSX Co. (CSX) opened at $53.26 on Tuesday. The stock has a market capitalization of $46,810.00, a PE ratio of 8.80, a P/E/G ratio of 1.23 and a beta of 1.26. CSX Co. has a fifty-two week low of $45.41 and a fifty-two week 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.
CSX (NASDAQ:CSX) last released its earnings results on Tuesday, January 16th. The transportation company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.08. The firm had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.89 billion. CSX had a return on equity of 17.16% and a net margin of 47.96%. CSX’s revenue was down 5.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.49 earnings per share. analysts anticipate that CSX Co. will post 3.11 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, March 1st will be issued a dividend of $0.22 per share. This is a positive change from CSX’s previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a yield of 1.65%. CSX’s payout ratio is presently 13.22%.
CSX declared that its board has initiated a share repurchase program on Wednesday, October 25th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the transportation company to repurchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
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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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