Huntington National Bank cut its position in shares of CSX Co. (NASDAQ:CSX) by 7.0% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 50,583 shares of the transportation company’s stock after selling 3,808 shares during the period. Huntington National Bank’s holdings in CSX were worth $3,528,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the stock. State of Michigan Retirement System raised its holdings in shares of CSX by 9.7% in the second quarter. State of Michigan Retirement System now owns 195,523 shares of the transportation company’s stock worth $13,636,000 after acquiring an additional 17,292 shares during the last quarter. Duality Advisers LP acquired a new position in shares of CSX in the second quarter worth $1,750,000. Everett Harris & Co. CA raised its holdings in shares of CSX by 7.5% in the second quarter. Everett Harris & Co. CA now owns 4,463 shares of the transportation company’s stock worth $311,000 after acquiring an additional 313 shares during the last quarter. Davis Capital Management acquired a new position in shares of CSX in the second quarter worth $214,000. Finally, Mattern Wealth Management LLC acquired a new position in shares of CSX in the second quarter worth $204,000. 72.78% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ CSX opened at $71.34 on Friday. CSX Co. has a 1-year low of $46.81 and a 1-year high of $80.62. The business has a 50-day moving average of $69.53 and a 200-day moving average of $68.45. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.62 and a quick ratio of 1.51. The company has a market capitalization of $54.61 billion, a price-to-earnings ratio of 19.18, a PEG ratio of 2.67 and a beta of 1.23.
CSX (NASDAQ:CSX) last issued its earnings results on Wednesday, July 22nd. The transportation company reported $0.65 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.01. CSX had a return on equity of 24.24% and a net margin of 26.39%. The company had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter in the prior year, the business earned $1.08 earnings per share. Research analysts expect that CSX Co. will post 3.51 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 1.46%. The ex-dividend date of this dividend is Friday, August 28th. CSX’s payout ratio is 24.94%.
In related news, Director John J. Zillmer sold 20,500 shares of the business’s stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $72.13, for a total value of $1,478,665.00. Following the transaction, the director now owns 152,539 shares in the company, valued at $11,002,638.07. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Mark Kenneth Wallace sold 20,000 shares of the business’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $72.79, for a total value of $1,455,800.00. Following the completion of the transaction, the executive vice president now owns 58,252 shares in the company, valued at approximately $4,240,163.08. The disclosure for this sale can be found here. 0.58% of the stock is owned by corporate insiders.
CSX has been the subject of a number of recent analyst reports. TD Securities lowered their price objective on CSX from $79.00 to $78.00 and set a “hold” rating for the company in a research report on Thursday, July 23rd. UBS Group raised CSX from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $63.00 to $80.00 in a research report on Wednesday, May 20th. Goldman Sachs Group raised CSX from a “neutral” rating to a “buy” rating in a research report on Sunday, April 19th. Cfra lifted their price objective on CSX from $68.00 to $71.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $71.00 price objective on shares of CSX in a research report on Monday, April 6th. Eleven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $73.45.
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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