Malaga Cove Capital LLC bought a new position in CSX Co. (NASDAQ:CSX) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 8,708 shares of the transportation company’s stock, valued at approximately $652,000.
Several other institutional investors and hedge funds have also recently made changes to their positions in CSX. Bank of New York Mellon Corp boosted its holdings in shares of CSX by 2.1% during the third quarter. Bank of New York Mellon Corp now owns 9,482,962 shares of the transportation company’s stock worth $702,214,000 after purchasing an additional 193,133 shares during the period. Martingale Asset Management L P acquired a new stake in shares of CSX during the third quarter worth approximately $520,000. GAM Holding AG acquired a new stake in shares of CSX during the third quarter worth approximately $375,000. Renaissance Technologies LLC boosted its holdings in shares of CSX by 632.6% during the third quarter. Renaissance Technologies LLC now owns 827,100 shares of the transportation company’s stock worth $61,247,000 after purchasing an additional 714,200 shares during the period. Finally, First Republic Investment Management Inc. boosted its holdings in shares of CSX by 12.1% during the third quarter. First Republic Investment Management Inc. now owns 103,776 shares of the transportation company’s stock worth $7,685,000 after purchasing an additional 11,177 shares during the period. Institutional investors own 77.35% of the company’s stock.
In other news, Director Ridge Lp Mantle sold 1,930,318 shares of CSX stock in a transaction that occurred on Thursday, January 24th. The shares were sold at an average price of $65.01, for a total value of $125,489,973.18. Following the transaction, the director now owns 106 shares of the company’s stock, valued at $6,891.06. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 4.83% of the company’s stock.
Shares of NASDAQ:CSX traded up $0.23 during trading on Thursday, reaching $75.30. The stock had a trading volume of 1,142,620 shares, compared to its average volume of 4,629,951. CSX Co. has a 52 week low of $54.65 and a 52 week high of $77.15. The firm has a market cap of $61.01 billion, a price-to-earnings ratio of 19.61, a P/E/G ratio of 1.33 and a beta of 1.29. The company has a quick ratio of 1.20, a current ratio of 1.34 and a debt-to-equity ratio of 1.17.
CSX (NASDAQ:CSX) last released its quarterly earnings results on Wednesday, January 16th. The transportation company reported $1.01 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.01. CSX had a net margin of 27.01% and a return on equity of 24.18%. The company had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.12 billion. During the same quarter last year, the firm posted $0.64 earnings per share. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. Research analysts predict that CSX Co. will post 4.22 EPS for the current fiscal year.
CSX declared that its board has approved a share buyback plan on Wednesday, January 16th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the transportation company to reacquire up to 9.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.
The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 28th were given a $0.24 dividend. This is a positive change from CSX’s previous quarterly dividend of $0.22. The ex-dividend date was Wednesday, February 27th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.27%. CSX’s dividend payout ratio (DPR) is currently 25.00%.
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.
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