Jaffetilchin Investment Partners LLC Sells 5,495 Shares of CSX Co. (CSX)
Jaffetilchin Investment Partners LLC trimmed its stake in shares of CSX Co. (NASDAQ:CSX) by 48.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,782 shares of the transportation company’s stock after selling 5,495 shares during the quarter. Jaffetilchin Investment Partners LLC’s holdings in CSX were worth $318,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Cbre Clarion Securities LLC lifted its holdings in shares of CSX by 1.7% in the 2nd quarter. Cbre Clarion Securities LLC now owns 23,500 shares of the transportation company’s stock valued at $1,282,000 after buying an additional 400 shares during the period. Advisory Services Network LLC lifted its holdings in shares of CSX by 2.6% in the 2nd quarter. Advisory Services Network LLC now owns 21,741 shares of the transportation company’s stock valued at $1,186,000 after buying an additional 557 shares during the period. New England Research & Management Inc. lifted its holdings in shares of CSX by 3.5% in the 4th quarter. New England Research & Management Inc. now owns 25,323 shares of the transportation company’s stock valued at $1,393,000 after buying an additional 850 shares during the period. DnB Asset Management AS lifted its holdings in shares of CSX by 1.4% in the 4th quarter. DnB Asset Management AS now owns 97,264 shares of the transportation company’s stock valued at $5,350,000 after buying an additional 1,300 shares during the period. Finally, Tocqueville Asset Management L.P. lifted its holdings in shares of CSX by 1.9% in the 3rd quarter. Tocqueville Asset Management L.P. now owns 77,038 shares of the transportation company’s stock valued at $4,180,000 after buying an additional 1,420 shares during the period. 70.15% of the stock is owned by institutional investors.
Several research firms have recently commented on CSX. Scotiabank cut CSX from an “outperform” rating to a “sector perform” rating and set a $43.00 price target for the company. in a report on Friday. BidaskClub raised CSX from a “hold” rating to a “buy” rating in a report on Wednesday. Royal Bank of Canada raised their price target on CSX from $59.00 to $67.00 and gave the company an “outperform” rating in a report on Tuesday. They noted that the move was a valuation call. Robert W. Baird reissued a “buy” rating and issued a $59.00 price target on shares of CSX in a report on Tuesday. Finally, ValuEngine cut CSX from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $57.28.
CSX (NASDAQ:CSX) last released its quarterly earnings results on Tuesday, October 17th. The transportation company reported $0.51 earnings per share for the quarter, hitting the consensus estimate of $0.51. The company had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.77 billion. CSX had a return on equity of 17.28% and a net margin of 15.45%. CSX’s revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.48 earnings per share. sell-side analysts forecast that CSX Co. will post 2.21 EPS for the current fiscal year.
CSX announced that its Board of Directors has approved a share buyback plan on Wednesday, October 25th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the transportation company to buy shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
In related news, Director Gary Keith Anderson purchased 5,000 shares of the company’s stock in a transaction on Friday, November 24th. The stock was bought at an average price of $2,300.00 per share, with a total value of $11,500,000.00. Company insiders own 4.79% of the company’s stock.
CSX Corporation is a transportation company. The Company provides rail-based freight transportation services, including traditional rail service and transport of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations.
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