CSX Corporation $CSX Shares Sold by M&G PLC

M&G PLC lessened its stake in shares of CSX Corporation (NASDAQ:CSX) by 6.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,749,289 shares of the transportation company’s stock after selling 184,376 shares during the period. M&G PLC’s holdings in CSX were worth $129,217,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of CSX. Virtue Capital Management LLC raised its holdings in shares of CSX by 1.6% in the 3rd quarter. Virtue Capital Management LLC now owns 12,545 shares of the transportation company’s stock valued at $583,000 after purchasing an additional 201 shares in the last quarter. Washington Trust Advisors Inc. grew its position in CSX by 7.2% during the 2nd quarter. Washington Trust Advisors Inc. now owns 3,142 shares of the transportation company’s stock worth $149,000 after purchasing an additional 211 shares during the last quarter. CHICAGO TRUST Co NA raised its stake in CSX by 0.7% in the 3rd quarter. CHICAGO TRUST Co NA now owns 31,606 shares of the transportation company’s stock worth $1,470,000 after acquiring an additional 211 shares during the last quarter. Covestor Ltd lifted its holdings in shares of CSX by 51.7% during the third quarter. Covestor Ltd now owns 619 shares of the transportation company’s stock worth $29,000 after purchasing an additional 211 shares during the period. Finally, BLB&B Advisors LLC boosted its position in CSX by 0.7% in the third quarter. BLB&B Advisors LLC now owns 30,452 shares of the transportation company’s stock valued at $1,416,000 after buying an additional 215 shares during the last quarter. Institutional investors own 73.57% of the company’s stock.

CSX Stock Up 2.8%

Shares of CSX opened at $50.48 on Tuesday. The firm has a market cap of $93.05 billion, a P/E ratio of 26.16, a PEG ratio of 2.28 and a beta of 1.12. CSX Corporation has a 12 month low of $33.63 and a 12 month high of $53.60. The stock’s 50 day moving average is $48.77 and its two-hundred day moving average is $45.96. The company has a current ratio of 0.84, a quick ratio of 0.75 and a debt-to-equity ratio of 1.19.

CSX (NASDAQ:CSX) last announced its earnings results on Wednesday, October 21st. The transportation company reported $0.57 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $3.96 billion. During the same period in the prior year, the company posted $0.44 EPS. The business’s quarterly revenue was up 12.0% on a year-over-year basis. Analysts predict that CSX Corporation will post 2.05 earnings per share for the current fiscal year.

CSX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Monday, November 30th will be given 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 dividend payout ratio is currently 29.02%.

Insiders Place Their Bets

In other CSX news, Director John Zillmer sold 19,500 shares of the stock in a transaction on Monday, October 26th. The shares were sold at an average price of $51.24, for a total transaction of $999,180.00. Following the transaction, the director directly owned 334,214 shares of the company’s stock, 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 SEC, which is accessible through this hyperlink. Corporate insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CSX shares. TD Cowen reissued a “buy” rating and issued a $55.00 price objective (up from $54.00) on shares of CSX in a report on Thursday, October 22nd. Bank of America boosted their price target on CSX from $55.00 to $57.00 and gave the company a “buy” rating in a report on Thursday, October 22nd. UBS Group set a $54.00 price objective on CSX in a research report on Thursday, October 22nd. Raymond James Financial set a $55.00 target price on shares of CSX in a research note on Friday, October 23rd. Finally, JPMorgan Chase & Co. increased their price target on shares of CSX from $57.00 to $58.00 and gave the stock an “overweight” rating in a report on Thursday, October 22nd. Eighteen research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.20.

CSX Company Profile

CSX Corporation is a freight transportation company that operates one of the largest rail networks in the eastern United States. Its rail system serves customers across much of the eastern U.S., as well as parts of Canada, and connects with other railroads and ports.

CSX transports a broad range of goods, including chemicals, agricultural and food products, automobiles, minerals, forest products, coal and intermodal freight. Its services include rail transportation, intermodal shipping that combines rail and truck transport, and related logistics and supply-chain services.

The company was formed in 1980 through the merger of Chessie System and Seaboard Coast Line Industries, combining railroads with histories dating to the 19th century.