CSX Corporation $CSX Shares Purchased by Rathbones Group PLC

Rathbones Group PLC raised its stake in CSX Corporation (NASDAQ:CSX) by 20.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 207,454 shares of the transportation company’s stock after acquiring an additional 35,403 shares during the quarter. Rathbones Group PLC’s holdings in CSX were worth $7,367,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Kingswood Wealth Advisors LLC boosted its stake in shares of CSX by 4.1% during the third quarter. Kingswood Wealth Advisors LLC now owns 8,324 shares of the transportation company’s stock valued at $296,000 after acquiring an additional 331 shares during the last quarter. Moloney Securities Asset Management LLC raised its stake in CSX by 2.7% in the 3rd quarter. Moloney Securities Asset Management LLC now owns 13,048 shares of the transportation company’s stock valued at $463,000 after purchasing an additional 339 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its holdings in CSX by 0.7% in the 3rd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 74,920 shares of the transportation company’s stock valued at $2,660,000 after purchasing an additional 510 shares in the last quarter. Crestwood Advisors Group LLC boosted its stake in shares of CSX by 7.3% during the 3rd quarter. Crestwood Advisors Group LLC now owns 7,800 shares of the transportation company’s stock worth $277,000 after purchasing an additional 532 shares during the last quarter. Finally, FourThought Financial Partners LLC grew its holdings in shares of CSX by 0.6% during the second quarter. FourThought Financial Partners LLC now owns 101,818 shares of the transportation company’s stock worth $3,322,000 after buying an additional 631 shares in the last quarter. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Morgan Stanley set a $30.00 price objective on shares of CSX and gave the company an “equal weight” rating in a research note on Monday, December 8th. Wolfe Research cut their price target on CSX from $43.00 to $42.00 and set an “outperform” rating for the company in a report on Thursday, January 8th. Sanford C. Bernstein restated a “market perform” rating and set a $36.00 price objective (down from $37.00) on shares of CSX in a report on Friday, January 23rd. Susquehanna reaffirmed a “neutral” rating and issued a $39.00 price objective on shares of CSX in a research report on Friday, January 23rd. Finally, Evercore reduced their target price on CSX from $41.00 to $40.00 and set an “outperform” rating on the stock in a research report on Friday, January 23rd. Nineteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, CSX currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.10.

CSX Stock Performance

NASDAQ:CSX opened at $39.95 on Monday. The company has a market cap of $74.29 billion, a P/E ratio of 25.94, a P/E/G ratio of 2.04 and a beta of 1.26. The firm’s 50 day moving average is $38.79 and its two-hundred day moving average is $36.30. CSX Corporation has a fifty-two week low of $26.22 and a fifty-two week high of $43.35. The company has a quick ratio of 0.69, a current ratio of 0.81 and a debt-to-equity ratio of 1.38.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Thursday, January 22nd. The transportation company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.02). The company had revenue of $3.51 billion for the quarter, compared to analysts’ expectations of $3.59 billion. CSX had a net margin of 20.50% and a return on equity of 23.88%. The firm’s quarterly revenue was down .9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.42 earnings per share. Analysts expect that CSX Corporation will post 1.83 EPS for the current year.

CSX Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.4%. This is a boost from CSX’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Friday, February 27th. CSX’s dividend payout ratio (DPR) is presently 36.36%.

Insiders Place Their Bets

In other news, EVP Stephen Fortune sold 31,456 shares of CSX stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $38.65, for a total value of $1,215,774.40. Following the transaction, the executive vice president directly owned 82,034 shares of the company’s stock, valued at $3,170,614.10. The trade was a 27.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Diana B. Sorfleet sold 90,000 shares of the business’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $41.56, for a total value of $3,740,400.00. Following the sale, the chief accounting officer owned 165,613 shares of the company’s stock, valued at $6,882,876.28. The trade was a 35.21% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 188,123 shares of company stock worth $7,454,854 over the last three months. 0.35% of the stock is owned by insiders.

CSX Profile

CSX Corporation is a leading North American transportation company that provides rail-based freight services and supply-chain solutions. Its operating subsidiary, CSX Transportation, moves a wide range of goods for customers across multiple industries, using a combination of long-haul rail service, intermodal operations and terminal and yard services. The company focuses on delivering efficient, reliable freight transportation between major production centers, consumption markets and port gateways.

CSX’s freight portfolio includes intermodal containers and trailers, bulk commodities, industrial products and specialized unit trains.