Dupont Capital Management Corp reduced its stake in shares of CSX Co. (NASDAQ:CSX) by 2.7% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 205,542 shares of the transportation company’s stock after selling 5,756 shares during the period. Dupont Capital Management Corp’s holdings in CSX were worth $14,238,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently modified their holdings of CSX. Nuveen Asset Management LLC grew its holdings in shares of CSX by 1,402.9% in the second quarter. Nuveen Asset Management LLC now owns 9,509,960 shares of the transportation company’s stock valued at $735,786,000 after acquiring an additional 8,877,188 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of CSX by 277.1% in the second quarter. Renaissance Technologies LLC now owns 3,036,900 shares of the transportation company’s stock valued at $234,965,000 after acquiring an additional 2,231,500 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of CSX in the third quarter valued at approximately $79,508,000. BlackRock Inc. grew its holdings in shares of CSX by 2.4% in the second quarter. BlackRock Inc. now owns 48,210,842 shares of the transportation company’s stock valued at $3,730,073,000 after acquiring an additional 1,127,117 shares in the last quarter. Finally, EdgePoint Investment Group Inc. grew its holdings in shares of CSX by 6.8% in the second quarter. EdgePoint Investment Group Inc. now owns 10,698,067 shares of the transportation company’s stock valued at $827,709,000 after acquiring an additional 685,637 shares in the last quarter. 75.62% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have recently issued reports on CSX shares. Bank of America reduced their target price on CSX from $82.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, October 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. Cascend Securities lowered CSX from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Credit Suisse Group increased their price objective on CSX from $79.00 to $82.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Finally, UBS Group reduced their price objective on CSX from $81.00 to $75.00 and set a “neutral” rating for the company in a report on Tuesday, September 17th. Two equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have assigned a buy rating to the company’s stock. CSX currently has an average rating of “Hold” and a consensus target price of $78.21.
Shares of CSX stock traded down $0.80 on Monday, reaching $71.52. The company’s stock had a trading volume of 5,512,679 shares, compared to its average volume of 5,008,123. The company has a quick ratio of 1.33, a current ratio of 1.41 and a debt-to-equity ratio of 1.35. CSX Co. has a 12-month low of $58.47 and a 12-month high of $80.73. The company has a market capitalization of $56.06 billion, a P/E ratio of 18.63, a PEG ratio of 1.34 and a beta of 1.24. The stock’s 50 day simple moving average is $69.12 and its 200-day simple moving average is $72.88.
CSX (NASDAQ:CSX) last issued its quarterly earnings data on Wednesday, October 16th. The transportation company reported $1.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.06. CSX had a return on equity of 27.67% and a net margin of 27.91%. The company had revenue of $2.98 billion for the quarter, compared to the consensus estimate of $2.98 billion. During the same quarter last year, the business posted $1.05 earnings per share. The firm’s revenue was down 4.8% compared to the same quarter last year. Research analysts expect that CSX Co. will post 4.18 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.34%. CSX’s dividend payout ratio (DPR) is presently 25.00%.
In related news, Director Steven T. Halverson sold 39,812 shares of the stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $71.65, for a total value of $2,852,529.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ridge Lp Mantle sold 3,453,894 shares of the stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $67.91, for a total value of $234,553,941.54. Following the completion of the transaction, the director now directly owns 8,263 shares in the company, valued at approximately $561,140.33. The disclosure for this sale can be found here. Company insiders own 4.83% of the company’s stock.
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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