One Way Holdings LLC bought a new stake in shares of CSX Corporation (NASDAQ:CSX – Free Report) during the 3rd quarter, HoldingsChannel reports. The institutional investor bought 212,417 shares of the transportation company’s stock, valued at approximately $9,880,000.
A number of other institutional investors have also made changes to their positions in CSX. Evolve Private Wealth LLC acquired a new position in CSX in the 2nd quarter valued at approximately $693,000. M. Kulyk & Associates LLC bought a new stake in shares of CSX during the second quarter worth $8,145,000. Wealthfront Advisers LLC bought a new position in CSX in the second quarter valued at approximately $7,609,000. B. Metzler seel. Sohn & Co. AG acquired a new stake in shares of CSX in the 2nd quarter valued at approximately $6,598,000. Finally, First National Bank of Omaha acquired a new position in CSX in the second quarter valued at about $6,248,000. 73.57% of the stock is currently owned by institutional investors.
CSX Price Performance
CSX stock opened at $51.99 on Monday. CSX Corporation has a 52-week low of $33.63 and a 52-week high of $53.60. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.75 and a current ratio of 0.84. The stock has a market capitalization of $95.84 billion, a price-to-earnings ratio of 26.94, a PEG ratio of 2.29 and a beta of 1.21. The stock’s 50 day moving average price is $48.86 and its two-hundred day moving average price is $45.51.
CSX (NASDAQ:CSX – Get Free Report) last issued its earnings results on Wednesday, October 21st. The transportation company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.04. CSX had a return on equity of 25.94% and a net margin of 23.97%. The business had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.96 billion. During the same period in the previous year, the company posted $0.44 EPS. The firm’s revenue was up 12.0% compared to the same quarter last year. On average, equities analysts predict that CSX Corporation will post 2.04 earnings per share for the current year.
CSX Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Monday, November 30th will be paid a dividend of $0.14 per share. The ex-dividend date is Monday, November 30th. This represents a $0.56 dividend on an annualized basis and a yield of 1.1%. CSX’s payout ratio is 29.02%.
Insider Transactions at CSX
In other news, Director John Zillmer sold 19,500 shares of the firm’s stock in a transaction that occurred on Monday, October 26th. The stock was sold at an average price of $51.24, for a total value of $999,180.00. Following the transaction, the director owned 334,214 shares in the company, valued at $17,125,125.36. This trade represents a 5.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.30% of the company’s stock.
Analyst Upgrades and Downgrades
CSX has been the subject of a number of recent research reports. BMO Capital Markets reaffirmed a “market perform” rating and set a $52.00 price target (up from $49.00) on shares of CSX in a research report on Thursday, July 23rd. Evercore set a $53.00 target price on CSX in a report on Friday, October 23rd. JPMorgan Chase & Co. upped their price objective on CSX from $57.00 to $58.00 and gave the company an “overweight” rating in a report on Thursday, October 22nd. Wall Street Zen cut shares of CSX from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Sanford C. Bernstein restated a “market perform” rating and set a $49.00 price objective on shares of CSX in a research report on Thursday, October 22nd. Eighteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $52.20.
Check Out Our Latest Report on CSX
CSX Profile
CSX Corporation is a transportation company whose primary business is freight railroading through its CSX Transportation subsidiary. The company operates an extensive rail network across the eastern United States, serving major industrial centers, population hubs, ports and distribution markets.
CSX transports a broad range of products, including chemicals, agricultural and food products, forest products, minerals, metals, automotive goods and other manufactured merchandise. Its services also include intermodal transportation, which combines rail service with trucks and containers, as well as the movement of coal and other bulk commodities.
The company traces its roots to the formation of CSX Corporation in 1980 through the merger of Chessie System and Seaboard Coast Line Industries.
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