Virtu Financial LLC Has $912,000 Position in CSX Co. (CSX)

Virtu Financial LLC decreased its position in CSX Co. (NASDAQ:CSX) by 66.8% in the 1st quarter, Holdings Channel reports. The firm owned 12,196 shares of the transportation company’s stock after selling 24,577 shares during the period. Virtu Financial LLC’s holdings in CSX were worth $912,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. BlackRock Inc. raised its stake in CSX by 2.3% in the 4th quarter. BlackRock Inc. now owns 49,404,831 shares of the transportation company’s stock valued at $3,069,519,000 after purchasing an additional 1,127,467 shares during the last quarter. FMR LLC increased its stake in shares of CSX by 14.1% during the 4th quarter. FMR LLC now owns 23,161,058 shares of the transportation company’s stock valued at $1,438,997,000 after acquiring an additional 2,867,186 shares during the last quarter. Oregon Public Employees Retirement Fund increased its stake in shares of CSX by 11,871.8% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 11,486,719 shares of the transportation company’s stock valued at $185,000 after acquiring an additional 11,390,771 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of CSX by 6.6% during the 4th quarter. Geode Capital Management LLC now owns 10,386,802 shares of the transportation company’s stock valued at $644,194,000 after acquiring an additional 646,745 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of CSX by 2.1% during the 4th quarter. Northern Trust Corp now owns 9,500,242 shares of the transportation company’s stock valued at $590,251,000 after acquiring an additional 192,907 shares during the last quarter. 77.36% of the stock is owned by hedge funds and other institutional investors.

In other CSX news, Director Ridge Lp Mantle sold 1,930,318 shares of the company’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 value of $125,489,973.18. Following the transaction, the director now directly owns 106 shares of the company’s stock, valued at approximately $6,891.06. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 4.83% of the company’s stock.

A number of research analysts have recently commented on the stock. Zacks Investment Research raised shares of CSX from a “hold” rating to a “buy” rating and set a $74.00 price objective for the company in a research note on Monday, February 4th. BidaskClub upgraded CSX from a “buy” rating to a “strong-buy” rating in a report on Thursday, February 14th. Loop Capital boosted their target price on CSX to $87.00 and gave the stock a “buy” rating in a report on Thursday, January 17th. Argus decreased their target price on CSX from $84.00 to $71.00 and set a “buy” rating for the company in a report on Monday, December 31st. Finally, ValuEngine cut CSX from a “buy” rating to a “hold” rating in a report on Wednesday, January 2nd. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eleven have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $75.64.

NASDAQ CSX opened at $75.89 on Wednesday. The company has a market capitalization of $61.66 billion, a price-to-earnings ratio of 19.76, a P/E/G ratio of 1.34 and a beta of 1.29. CSX Co. has a fifty-two week low of $56.10 and a fifty-two week high of $77.15. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.34 and a quick ratio of 1.20.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Tuesday, April 16th. The transportation company reported $1.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.11. CSX had a return on equity of 24.18% and a net margin of 27.01%. The firm had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $3 billion. During the same quarter in the prior year, the business earned $0.78 EPS. CSX’s quarterly revenue was up 4.8% compared to the same quarter last year. As a group, sell-side analysts forecast that CSX Co. will post 4.23 earnings per share for the current fiscal year.

CSX declared that its Board of Directors has initiated a share buyback plan on Wednesday, January 16th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the transportation company to repurchase up to 9.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

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CSX Company Profile

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.

Further Reading: What is a Call Option?

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Institutional Ownership by Quarter for CSX (NASDAQ:CSX)

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