Gamble Jones Investment Counsel lessened its holdings in CSX Co. (NASDAQ:CSX) by 19.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,638 shares of the transportation company’s stock after selling 1,390 shares during the period. Gamble Jones Investment Counsel’s holdings in CSX were worth $314,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of CSX. Prentiss Smith & Co. Inc. purchased a new stake in CSX in the 4th quarter valued at about $119,000. Icon Wealth Partners LLC purchased a new stake in CSX in the 4th quarter valued at about $126,000. Front Row Advisors LLC purchased a new stake in CSX in the 4th quarter valued at about $135,000. Signaturefd LLC purchased a new stake in CSX in the 1st quarter valued at about $157,000. Finally, Bray Capital Advisors purchased a new stake in CSX in the 1st quarter valued at about $167,000. Institutional investors own 75.78% of the company’s stock.
CSX opened at $64.68 on Friday, according to Marketbeat.com. The company has a market capitalization of $56.40 billion, a P/E ratio of 25.07, a price-to-earnings-growth ratio of 1.48 and a beta of 1.20. CSX Co. has a 12 month low of $47.99 and a 12 month high of $64.82. The company has a quick ratio of 1.68, a current ratio of 1.87 and a debt-to-equity ratio of 0.96.
CSX declared that its Board of Directors has approved a stock buyback plan on Monday, February 12th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the transportation company to repurchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Investors of record on Thursday, May 31st will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.36%. The ex-dividend date is Wednesday, May 30th. CSX’s dividend payout ratio (DPR) is presently 38.26%.
In other CSX news, CEO James M. Foote acquired 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 2nd. The stock was bought at an average cost of $59.91 per share, with a total value of $299,550.00. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 5.03% of the stock is currently owned by company insiders.
Several equities research analysts have recently issued reports on CSX shares. Morgan Stanley raised their price target on shares of CSX from $47.00 to $48.00 and gave the stock an “underweight” rating in a research note on Friday, April 6th. BidaskClub upgraded shares of CSX from a “sell” rating to a “hold” rating in a research note on Saturday, February 17th. Deutsche Bank set a $70.00 price target on shares of CSX and gave the stock a “buy” rating in a research note on Sunday, March 4th. UBS set a $75.00 price target on shares of CSX and gave the stock a “buy” rating in a research note on Wednesday, April 18th. Finally, ValuEngine upgraded shares of CSX from a “hold” rating to a “buy” rating in a research note on Wednesday, April 18th. One research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. CSX presently has a consensus rating of “Buy” and an average price target of $65.05.
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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