CSX Co. (CSX) Stake Increased by IFM Investors Pty Ltd

IFM Investors Pty Ltd boosted its stake in shares of CSX Co. (NASDAQ:CSX) by 8.9% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 47,674 shares of the transportation company’s stock after acquiring an additional 3,895 shares during the period. IFM Investors Pty Ltd’s holdings in CSX were worth $2,962,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Farmers Trust Co. grew its stake in CSX by 3.6% during the fourth quarter. Farmers Trust Co. now owns 5,773 shares of the transportation company’s stock valued at $359,000 after acquiring an additional 200 shares in the last quarter. Mycio Wealth Partners LLC grew its stake in CSX by 2.2% during the fourth quarter. Mycio Wealth Partners LLC now owns 9,135 shares of the transportation company’s stock valued at $568,000 after acquiring an additional 200 shares in the last quarter. Boenning & Scattergood Inc. grew its stake in CSX by 1.1% during the fourth quarter. Boenning & Scattergood Inc. now owns 18,963 shares of the transportation company’s stock valued at $1,178,000 after acquiring an additional 200 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA grew its stake in CSX by 8.3% during the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 3,900 shares of the transportation company’s stock valued at $242,000 after acquiring an additional 300 shares in the last quarter. Finally, Highwater Wealth Management LLC purchased a new position in CSX during the fourth quarter valued at $31,000. 75.11% of the stock is owned by institutional investors.

CSX has been the subject of a number of recent research reports. Cowen lifted their price objective on shares of CSX from $74.00 to $77.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 17th. Credit Suisse Group dropped their price objective on shares of CSX from $86.00 to $79.00 and set an “outperform” rating for the company in a research note on Monday, January 7th. TD Securities lifted their price objective on shares of CSX from $76.00 to $80.00 and gave the stock a “hold” rating in a research note on Wednesday, October 17th. BidaskClub raised shares of CSX from a “hold” rating to a “buy” rating in a research note on Friday, November 2nd. Finally, Royal Bank of Canada reissued a “buy” rating and issued a $82.00 price objective on shares of CSX in a research note on Monday, December 17th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have assigned a buy rating to the stock. CSX currently has a consensus rating of “Buy” and an average price target of $75.88.

Shares of CSX stock traded down $0.75 during trading hours on Wednesday, reaching $65.08. 567,878 shares of the stock were exchanged, compared to its average volume of 4,676,767. CSX Co. has a 12-month low of $48.43 and a 12-month high of $76.24. The company has a current ratio of 1.34, a quick ratio of 1.29 and a debt-to-equity ratio of 1.17. The stock has a market cap of $56.88 billion, a PE ratio of 16.95, a P/E/G ratio of 1.19 and a beta of 1.33.

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

CSX declared that its board has approved a share repurchase program on Wednesday, January 16th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the transportation company to purchase up to 9.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

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About CSX

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.

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Institutional Ownership by Quarter for CSX (NASDAQ:CSX)

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