Miller Howard Investments Inc. NY Raises Position in CSX Corporation $CSX

Miller Howard Investments Inc. NY grew its holdings in CSX Corporation (NASDAQ:CSX) by 6.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 238,817 shares of the transportation company’s stock after acquiring an additional 15,310 shares during the period. Miller Howard Investments Inc. NY’s holdings in CSX were worth $9,803,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of CSX. Rathbones Group PLC grew its stake in CSX by 20.6% during the 3rd quarter. Rathbones Group PLC now owns 207,454 shares of the transportation company’s stock worth $7,367,000 after purchasing an additional 35,403 shares in the last quarter. Canada Post Corp Registered Pension Plan increased its holdings in CSX by 34.2% during the 4th quarter. Canada Post Corp Registered Pension Plan now owns 96,484 shares of the transportation company’s stock worth $3,498,000 after purchasing an additional 24,566 shares during the period. Cbre Investment Management Listed Real Assets LLC raised its position in CSX by 81.9% in the 3rd quarter. Cbre Investment Management Listed Real Assets LLC now owns 944,946 shares of the transportation company’s stock valued at $33,555,000 after purchasing an additional 425,395 shares in the last quarter. SOA Wealth Advisors LLC. raised its position in CSX by 26.0% in the 4th quarter. SOA Wealth Advisors LLC. now owns 111,914 shares of the transportation company’s stock valued at $4,057,000 after purchasing an additional 23,072 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in shares of CSX by 159.5% in the 4th quarter. Farther Finance Advisors LLC now owns 73,410 shares of the transportation company’s stock valued at $2,661,000 after buying an additional 45,116 shares during the period. 73.57% of the stock is currently owned by institutional investors and hedge funds.

CSX Trading Down 0.1%

CSX opened at $46.16 on Wednesday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.83 and a current ratio of 0.97. CSX Corporation has a one year low of $31.80 and a one year high of $48.03. The company has a market cap of $85.77 billion, a P/E ratio of 28.32, a PEG ratio of 2.31 and a beta of 1.22. The business’s 50-day simple moving average is $45.43 and its 200-day simple moving average is $41.15.

CSX (NASDAQ:CSX) last posted its earnings results on Wednesday, April 22nd. The transportation company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.04. The firm had revenue of $3.48 billion during the quarter, compared to analysts’ expectations of $3.50 billion. CSX had a return on equity of 24.47% and a net margin of 21.55%.The firm’s revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.34 earnings per share. As a group, equities research analysts expect that CSX Corporation will post 1.9 EPS for the current fiscal year.

CSX Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Friday, May 29th. CSX’s payout ratio is currently 34.36%.

Insider Buying and Selling at CSX

In other news, CFO Kevin S. Boone sold 136,708 shares of the company’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $46.70, for a total value of $6,384,263.60. Following the completion of the transaction, the chief financial officer owned 208,622 shares in the company, valued at approximately $9,742,647.40. This represents a 39.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John J. Zillmer sold 10,000 shares of CSX stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $46.45, for a total transaction of $464,500.00. Following the sale, the director owned 353,714 shares in the company, valued at $16,430,015.30. This represents a 2.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.30% of the company’s stock.

Wall Street Analysts Forecast Growth

CSX has been the subject of a number of analyst reports. Citigroup reissued a “neutral” rating and set a $46.00 price objective (up from $44.00) on shares of CSX in a research report on Thursday, April 23rd. JPMorgan Chase & Co. raised their target price on shares of CSX from $42.00 to $48.00 and gave the company an “overweight” rating in a report on Thursday, April 23rd. Rothschild & Co Redburn lifted their price target on shares of CSX from $45.50 to $47.50 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Weiss Ratings reiterated a “hold (c)” rating on shares of CSX in a report on Monday, June 1st. Finally, Robert W. Baird increased their price objective on shares of CSX from $47.00 to $49.00 and gave the company an “outperform” rating in a research report on Tuesday, May 19th. Sixteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, CSX currently has a consensus rating of “Moderate Buy” and an average price target of $46.50.

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.