Wesbanco Bank Inc. lowered its position in shares of CSX Co. (NASDAQ:CSX) by 1.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,910 shares of the transportation company’s stock after selling 255 shares during the period. Wesbanco Bank Inc.’s holdings in CSX were worth $1,610,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CSX. Highwater Wealth Management LLC bought a new position in CSX during the 4th quarter worth $31,000. Moody National Bank Trust Division bought a new position in CSX during the 4th quarter worth $34,000. Ipswich Investment Management Co. Inc. bought a new position in CSX during the 4th quarter worth $34,000. Baystate Wealth Management LLC increased its stake in CSX by 219.9% during the 4th quarter. Baystate Wealth Management LLC now owns 611 shares of the transportation company’s stock worth $41,000 after acquiring an additional 420 shares during the period. Finally, Contravisory Investment Management Inc. increased its stake in CSX by 227.3% during the 4th quarter. Contravisory Investment Management Inc. now owns 648 shares of the transportation company’s stock worth $40,000 after acquiring an additional 450 shares during the period. Institutional investors own 76.43% of the company’s stock.

A number of equities analysts have commented on CSX shares. Zacks Investment Research upgraded CSX from a “hold” rating to a “buy” rating and set a $70.00 price objective on the stock in a research note on Thursday, January 3rd. Scotiabank set a $75.00 target price on CSX and gave the company a “hold” rating in a report on Tuesday, January 8th. Atlantic Securities assumed coverage on CSX in a report on Tuesday, January 8th. They issued an “overweight” rating and a $62.45 target price on the stock. Stephens reaffirmed a “buy” rating and issued a $86.00 target price on shares of CSX in a report on Monday, October 22nd. Finally, Royal Bank of Canada reduced their target price on CSX to $80.00 and set an “outperform” rating on the stock in a report on Thursday, January 17th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $75.93.

In related news, Director Ridge Lp Mantle sold 1,930,318 shares of the firm’s stock in a transaction on Thursday, January 24th. The stock was sold at an average price of $65.01, for a total transaction of $125,489,973.18. Following the sale, the director now owns 106 shares of the company’s stock, valued at approximately $6,891.06. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 5.03% of the company’s stock.

Shares of NASDAQ CSX traded up $0.92 during mid-day trading on Monday, hitting $69.67. 171,958 shares of the stock traded hands, compared to its average volume of 5,554,123. The company has a quick ratio of 1.20, a current ratio of 1.34 and a debt-to-equity ratio of 1.17. CSX Co. has a twelve month low of $48.43 and a twelve month high of $76.24. The company has a market cap of $56.25 billion, a price-to-earnings ratio of 18.24, a price-to-earnings-growth ratio of 1.22 and a beta of 1.25.

CSX (NASDAQ:CSX) last released its quarterly earnings data on Wednesday, January 16th. The transportation company reported $1.01 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.01. CSX had a return on equity of 24.18% and a net margin of 27.01%. The company had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $3.12 billion. During the same quarter last year, the business posted $0.64 EPS. CSX’s revenue for the quarter was up 9.8% on a year-over-year basis. On average, research analysts anticipate that CSX Co. will post 4.23 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Thursday, February 28th will be issued a dividend of $0.24 per share. This is an increase from CSX’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Wednesday, February 27th. This represents a $0.96 annualized dividend and a dividend yield of 1.38%. CSX’s dividend payout ratio (DPR) is 22.92%.

CSX declared that its Board of Directors has approved a stock buyback program on Wednesday, January 16th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the transportation company to repurchase up to 9.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

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CSX Company Profile

CSX Corporation, together with its subsidiaries, provides rail-based transportation services in the United States and Canada. The company offers rail services, as well as transports intermodal containers and trailers. It transports agricultural and food products, fertilizers, chemicals, automotive, metals and equipment, minerals, and forest products; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.

See Also: What is Net Asset Value (NAV)?

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Institutional Ownership by Quarter for CSX (NASDAQ:CSX)

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