Raymond James Trust N.A. lessened its holdings in CSX Co. (NASDAQ:CSX) by 10.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,618 shares of the transportation company’s stock after selling 2,018 shares during the quarter. Raymond James Trust N.A.’s holdings in CSX were worth $1,244,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also made changes to their positions in the business. Hilltop Holdings Inc. lifted its holdings in CSX by 1.7% during the 4th quarter. Hilltop Holdings Inc. now owns 8,866 shares of the transportation company’s stock worth $551,000 after purchasing an additional 149 shares in the last quarter. Bronfman E.L. Rothschild L.P. raised its holdings in shares of CSX by 4.0% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 4,023 shares of the transportation company’s stock valued at $250,000 after acquiring an additional 153 shares in the last quarter. Wetherby Asset Management Inc. raised its holdings in shares of CSX by 0.6% in the 4th quarter. Wetherby Asset Management Inc. now owns 26,429 shares of the transportation company’s stock valued at $1,642,000 after acquiring an additional 158 shares in the last quarter. Parkside Financial Bank & Trust raised its holdings in shares of CSX by 3.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 4,561 shares of the transportation company’s stock valued at $284,000 after acquiring an additional 164 shares in the last quarter. Finally, Bremer Trust National Association raised its holdings in shares of CSX by 5.1% in the 4th quarter. Bremer Trust National Association now owns 3,609 shares of the transportation company’s stock valued at $224,000 after acquiring an additional 176 shares in the last quarter. Hedge funds and other institutional investors own 77.36% of the company’s stock.
Shares of CSX stock opened at $75.89 on Wednesday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.20 and a current ratio of 1.34. The stock has a market cap of $61.66 billion, a PE ratio of 19.76, a PEG ratio of 1.34 and a beta of 1.29. CSX Co. has a 12 month low of $56.10 and a 12 month high of $77.15.
CSX declared that its board has initiated a stock repurchase 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 purchase up to 9.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
In related news, Director Ridge Lp Mantle sold 1,930,318 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now directly owns 106 shares in the company, valued at approximately $6,891.06. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 4.83% of the stock is owned by company insiders.
Several analysts have weighed in on the company. Zacks Investment Research raised CSX from a “hold” rating to a “buy” rating and set a $74.00 price target on the stock in a report on Thursday, January 24th. SNS Securities cut CSX from a “positive” rating to a “neutral” rating in a report on Wednesday, April 3rd. Citigroup raised their price target on CSX from $79.00 to $86.00 and gave the company a “buy” rating in a report on Thursday, April 4th. Finally, UBS Group lowered CSX from a “buy” rating to a “neutral” rating and increased their price objective for the company from $75.00 to $80.00 in a research report on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eleven have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $75.64.
CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services, as well as transports intermodal containers and trailers. It transports chemicals, automotive, agricultural and food products, minerals, fertilizers, forest products, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.
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