Equitable Trust Co. raised its position in shares of CSX Co. (NASDAQ:CSX) by 0.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 46,997 shares of the transportation company’s stock after buying an additional 186 shares during the period. Equitable Trust Co.’s holdings in CSX were worth $3,255,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. First Hawaiian Bank grew its stake in shares of CSX by 12.2% during the second quarter. First Hawaiian Bank now owns 22,451 shares of the transportation company’s stock valued at $1,737,000 after purchasing an additional 2,438 shares during the last quarter. Cardan Capital Partners LLC grew its stake in shares of CSX by 3.7% during the second quarter. Cardan Capital Partners LLC now owns 92,597 shares of the transportation company’s stock valued at $7,164,000 after purchasing an additional 3,310 shares during the last quarter. CWM Advisors LLC grew its stake in shares of CSX by 6.6% during the second quarter. CWM Advisors LLC now owns 13,562 shares of the transportation company’s stock valued at $1,049,000 after purchasing an additional 840 shares during the last quarter. Cornerstone Advisors Inc. grew its stake in shares of CSX by 6.5% during the second quarter. Cornerstone Advisors Inc. now owns 3,013 shares of the transportation company’s stock valued at $233,000 after purchasing an additional 185 shares during the last quarter. Finally, Hudson Valley Investment Advisors Inc. ADV grew its stake in shares of CSX by 2.5% during the second quarter. Hudson Valley Investment Advisors Inc. ADV now owns 50,997 shares of the transportation company’s stock valued at $3,946,000 after purchasing an additional 1,234 shares during the last quarter. 76.22% of the stock is owned by institutional investors.
Several analysts have recently commented on CSX shares. BidaskClub cut shares of CSX from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. UBS Group decreased their price target on shares of CSX from $81.00 to $75.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 17th. Credit Suisse Group increased their price target on shares of CSX from $79.00 to $82.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Cowen increased their price target on shares of CSX from $77.00 to $78.00 and gave the company a “market perform” rating in a research note on Thursday, October 17th. Finally, Deutsche Bank cut shares of CSX from a “buy” rating to a “hold” rating and reduced their price objective for the company from $82.00 to $74.00 in a research note on Monday, November 11th. Three investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and seven have given a buy rating to the stock. CSX has a consensus rating of “Hold” and a consensus target price of $77.38.
In related news, Director Steven T. Halverson sold 39,812 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $71.65, for a total value of $2,852,529.80. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Ridge Lp Mantle sold 3,453,894 shares of the firm’s stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $67.91, for a total transaction of $234,553,941.54. Following the completion of the sale, the director now directly owns 8,263 shares in the company, valued at $561,140.33. The disclosure for this sale can be found here. 4.83% of the stock is currently owned by corporate insiders.
Shares of NASDAQ:CSX traded up $0.74 during midday trading on Wednesday, hitting $70.45. The stock had a trading volume of 4,857,664 shares, compared to its average volume of 4,821,228. The company has a market capitalization of $55.97 billion, a P/E ratio of 18.35, a price-to-earnings-growth ratio of 1.34 and a beta of 1.22. CSX Co. has a fifty-two week low of $58.47 and a fifty-two week high of $80.73. The company’s 50-day moving average price is $71.41 and its 200-day moving average price is $71.65. The company has a quick ratio of 1.33, a current ratio of 1.41 and a debt-to-equity ratio of 1.35.
CSX (NASDAQ:CSX) last released its quarterly earnings data on Wednesday, October 16th. The transportation company reported $1.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.06. The firm had revenue of $2.98 billion for the quarter, compared to the consensus estimate of $2.98 billion. CSX had a net margin of 27.91% and a return on equity of 27.67%. The business’s revenue was down 4.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.05 earnings per share. Research analysts expect that CSX Co. will post 4.19 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a dividend of $0.24 per share. The ex-dividend date is Wednesday, November 27th. This represents a $0.96 annualized dividend and a yield of 1.36%. CSX’s payout ratio is currently 25.00%.
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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