Shell Asset Management Co. lessened its stake in CSX Co. (NASDAQ:CSX) by 11.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 147,638 shares of the transportation company’s stock after selling 19,204 shares during the quarter. Shell Asset Management Co.’s holdings in CSX were worth $8,460,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of CSX. Ballast Advisors LLC acquired a new position in CSX during the first quarter worth about $27,000. Filbrandt Wealth Management LLC acquired a new position in CSX during the fourth quarter worth about $36,000. Private Ocean LLC raised its stake in CSX by 147.8% during the first quarter. Private Ocean LLC now owns 503 shares of the transportation company’s stock worth $28,000 after acquiring an additional 300 shares in the last quarter. PSI Advisors LLC acquired a new position in CSX during the fourth quarter worth about $43,000. Finally, Key Financial Inc acquired a new position in CSX during the first quarter worth about $38,000. 73.08% of the stock is owned by institutional investors and hedge funds.
Several research analysts have commented on the company. Argus boosted their target price on CSX from $72.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. Goldman Sachs Group raised CSX from a “neutral” rating to a “buy” rating in a research note on Sunday, April 19th. Evercore ISI assumed coverage on CSX in a research note on Thursday, March 26th. They set an “outperform” rating and a $68.00 target price for the company. Stifel Nicolaus reissued a “buy” rating and set a $71.00 target price on shares of CSX in a research note on Monday, April 6th. Finally, Zacks Investment Research raised CSX from a “sell” rating to a “hold” rating and set a $58.00 price objective for the company in a research note on Wednesday, March 25th. Fourteen investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $72.43.
In other CSX news, Director Paul C. Hilal sold 700,000 shares of the stock in a transaction that occurred on Wednesday, April 29th. The stock was sold at an average price of $68.31, for a total transaction of $47,817,000.00. Following the transaction, the director now directly owns 10,489 shares in the company, valued at approximately $716,503.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.58% of the stock is currently owned by corporate insiders.
CSX stock traded up $0.73 during trading on Friday, hitting $68.53. The company had a trading volume of 2,721,667 shares, compared to its average volume of 4,665,264. The business has a 50-day moving average of $63.07 and a 200-day moving average of $69.10. CSX Co. has a one year low of $46.81 and a one year high of $80.62. The stock has a market cap of $51.90 billion, a PE ratio of 16.51, a PEG ratio of 2.41 and a beta of 1.23. The company has a current ratio of 1.73, a quick ratio of 1.61 and a debt-to-equity ratio of 1.39.
CSX (NASDAQ:CSX) last announced its earnings results on Wednesday, April 22nd. The transportation company reported $1.00 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.06. CSX had a return on equity of 27.27% and a net margin of 27.74%. The business had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.88 billion. During the same period in the prior year, the business posted $1.02 earnings per share. The firm’s revenue was down 5.2% on a year-over-year basis. Research analysts forecast that CSX Co. will post 3.62 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 29th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date is Thursday, May 28th. CSX’s payout ratio is 24.94%.
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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