CSX Corporation $CSX Stock: Keybank National Association OH Reduces Position

Keybank National Association OH lowered its stake in shares of CSX Corporation (NASDAQ:CSX) by 4.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 461,937 shares of the transportation company’s stock after selling 21,845 shares during the period. Keybank National Association OH’s holdings in CSX were worth $21,485,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in CSX. Cornerstone Wealth Management LLC lifted its holdings in CSX by 2.0% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 12,301 shares of the transportation company’s stock worth $572,000 after purchasing an additional 246 shares in the last quarter. 71 West Capital Partners boosted its stake in CSX by 4.2% in the 3rd quarter. 71 West Capital Partners now owns 13,156 shares of the transportation company’s stock worth $612,000 after purchasing an additional 527 shares during the period. Gryphon Financial Partners LLC boosted its stake in CSX by 1.3% in the 3rd quarter. Gryphon Financial Partners LLC now owns 19,876 shares of the transportation company’s stock worth $924,000 after purchasing an additional 259 shares during the period. AlphaCore Capital LLC grew its holdings in CSX by 185.2% during the 3rd quarter. AlphaCore Capital LLC now owns 36,173 shares of the transportation company’s stock valued at $1,682,000 after buying an additional 23,489 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in CSX by 12.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 102,041 shares of the transportation company’s stock valued at $4,749,000 after buying an additional 11,334 shares in the last quarter. 73.57% of the stock is owned by institutional investors.

Insider Buying and Selling at CSX

In other news, Director John Zillmer sold 19,500 shares of CSX stock in a transaction dated Monday, October 26th. The stock was sold at an average price of $51.24, for a total transaction of $999,180.00. Following the completion of the sale, the director owned 334,214 shares in the company, valued at approximately $17,125,125.36. This trade represents a 5.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.30% of the stock is currently owned by insiders.

CSX Trading Up 1.6%

Shares of CSX stock opened at $51.90 on Thursday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.75 and a current ratio of 0.84. CSX Corporation has a 52-week low of $33.63 and a 52-week high of $53.60. The company has a market capitalization of $95.67 billion, a PE ratio of 26.89, a price-to-earnings-growth ratio of 2.23 and a beta of 1.12. The business’s fifty day moving average is $48.85 and its 200 day moving average is $46.11.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Wednesday, October 21st. The transportation company reported $0.57 earnings per share (EPS) for the quarter, beating 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 company had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.96 billion. During the same quarter last year, the company earned $0.44 earnings per share. The firm’s quarterly revenue was up 12.0% on a year-over-year basis. On average, equities research analysts anticipate that CSX Corporation will post 2.06 EPS for the current fiscal year.

CSX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Monday, November 30th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Monday, November 30th. This represents a $0.56 annualized dividend and a dividend yield of 1.1%. CSX’s dividend payout ratio (DPR) is presently 29.02%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CSX. Sanford C. Bernstein reiterated a “market perform” rating and set a $49.00 price target on shares of CSX in a research report on Thursday, October 22nd. Citizens Jmp initiated coverage on shares of CSX in a research report on Wednesday, July 15th. They issued a “market perform” rating for the company. Wall Street Zen lowered shares of CSX from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Barclays reaffirmed an “overweight” rating and set a $60.00 price objective (up from $55.00) on shares of CSX in a research note on Thursday, July 23rd. Finally, Evercore set a $53.00 target price on shares of CSX in a report on Friday, October 23rd. Eighteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently 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.