Barings LLC Has $2.72 Million Position in CSX Co. (CSX)
Barings LLC lowered its position in shares of CSX Co. (NASDAQ:CSX) by 24.2% in the 1st quarter, HoldingsChannel reports. The fund owned 36,309 shares of the transportation company’s stock after selling 11,600 shares during the quarter. Barings LLC’s holdings in CSX were worth $2,717,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently made changes to their positions in CSX. Virtus ETF Advisers LLC boosted its holdings in CSX by 117.1% in the fourth quarter. Virtus ETF Advisers LLC now owns 445 shares of the transportation company’s stock worth $28,000 after purchasing an additional 240 shares during the last quarter. Larson Financial Group LLC purchased a new stake in CSX in the fourth quarter worth approximately $28,000. Liberty Wealth Management LLC purchased a new stake in CSX in the fourth quarter worth approximately $28,000. Karp Capital Management Corp purchased a new stake in CSX in the fourth quarter worth approximately $30,000. Finally, Destination Wealth Management purchased a new stake in CSX in the first quarter worth approximately $36,000. 75.51% of the stock is owned by institutional investors.
CSX has been the topic of several research reports. Citigroup raised their target price on shares of CSX from $79.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. Stifel Nicolaus cut shares of CSX from a “buy” rating to a “hold” rating and set a $74.00 target price on the stock. in a report on Wednesday, March 6th. UBS Group cut shares of CSX from a “buy” rating to a “neutral” rating and raised their target price for the stock from $75.00 to $80.00 in a report on Friday, April 5th. ValuEngine upgraded shares of CSX from a “hold” rating to a “buy” rating in a report on Monday, February 4th. Finally, BidaskClub cut shares of CSX from a “strong-buy” rating to a “buy” rating in a report on Friday, April 5th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $79.58.
Shares of CSX stock opened at $74.90 on Friday. The firm has a market cap of $60.61 billion, a PE ratio of 19.51, a price-to-earnings-growth ratio of 1.34 and a beta of 1.29. CSX Co. has a 1-year low of $58.47 and a 1-year high of $80.73. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.68 and a current ratio of 1.81.
CSX (NASDAQ:CSX) last issued its quarterly earnings results on Tuesday, April 16th. The transportation company reported $1.02 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.11. The business had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $3 billion. CSX had a net margin of 27.84% and a return on equity of 26.13%. The company’s revenue was up 4.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.78 EPS. As a group, equities analysts expect that CSX Co. will post 4.35 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $0.96 annualized dividend and a dividend yield of 1.28%. CSX’s payout ratio is 25.00%.
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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