Zurich Insurance Group Ltd FI raised its holdings in shares of CSX Co. (NASDAQ:CSX) by 19.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 232,165 shares of the transportation company’s stock after acquiring an additional 37,769 shares during the quarter. Zurich Insurance Group Ltd FI’s holdings in CSX were worth $17,963,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in the business. Community Bank & Trust Waco Texas grew its stake in shares of CSX by 1.1% in the 2nd quarter. Community Bank & Trust Waco Texas now owns 12,314 shares of the transportation company’s stock valued at $953,000 after buying an additional 132 shares in the last quarter. Adirondack Trust Co. grew its stake in shares of CSX by 2.2% in the 1st quarter. Adirondack Trust Co. now owns 6,960 shares of the transportation company’s stock valued at $554,000 after buying an additional 150 shares in the last quarter. Contravisory Investment Management Inc. grew its stake in shares of CSX by 20.9% in the 2nd quarter. Contravisory Investment Management Inc. now owns 868 shares of the transportation company’s stock valued at $67,000 after buying an additional 150 shares in the last quarter. We Are One Seven LLC grew its stake in shares of CSX by 4.4% in the 2nd quarter. We Are One Seven LLC now owns 3,533 shares of the transportation company’s stock valued at $273,000 after buying an additional 150 shares in the last quarter. Finally, Fulton Bank N.A. grew its stake in shares of CSX by 5.1% in the 2nd quarter. Fulton Bank N.A. now owns 3,305 shares of the transportation company’s stock valued at $256,000 after buying an additional 161 shares in the last quarter. 75.72% of the stock is currently owned by institutional investors.
Shares of CSX stock traded down $2.06 during trading hours on Friday, reaching $68.73. 3,578,451 shares of the company’s stock were exchanged, compared to its average volume of 4,760,030. CSX Co. has a fifty-two week low of $58.47 and a fifty-two week high of $80.73. The stock has a market capitalization of $56.46 billion, a P/E ratio of 17.90, a P/E/G ratio of 1.33 and a beta of 1.23. The business has a fifty day moving average price of $67.24 and a 200-day moving average price of $73.72. The company has a quick ratio of 1.44, a current ratio of 1.55 and a debt-to-equity ratio of 1.26.
CSX (NASDAQ:CSX) last issued its quarterly earnings results on Tuesday, July 16th. The transportation company reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.03). CSX had a return on equity of 26.96% and a net margin of 27.87%. The business had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same quarter last year, the firm earned $1.01 earnings per share. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. As a group, research analysts expect that CSX Co. will post 4.14 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were issued a dividend of $0.24 per share. The ex-dividend date was Thursday, August 29th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.40%. CSX’s dividend payout ratio (DPR) is presently 25.00%.
Several equities research analysts recently commented on CSX shares. Stephens cut CSX from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $86.00 to $79.00 in a research note on Wednesday, July 17th. Credit Suisse Group reduced their target price on CSX from $92.00 to $86.00 and set an “outperform” rating for the company in a report on Wednesday, July 17th. Royal Bank of Canada reduced their target price on CSX to $75.00 and set a “sector perform” rating for the company in a report on Wednesday, July 17th. Goldman Sachs Group began coverage on CSX in a report on Wednesday, July 10th. They issued a “neutral” rating and a $86.00 target price for the company. Finally, Cascend Securities lowered CSX from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and seven have given a buy rating to the stock. CSX presently has an average rating of “Hold” and a consensus target price of $77.87.
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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