LPL Financial LLC Has $33.66 Million Position in CSX Co. (NASDAQ:CSX)

LPL Financial LLC increased its position in shares of CSX Co. (NASDAQ:CSX) by 218.0% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,066,460 shares of the transportation company’s stock after purchasing an additional 731,145 shares during the quarter. LPL Financial LLC’s holdings in CSX were worth $33,657,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Gemmer Asset Management LLC lifted its holdings in CSX by 220.1% during the 2nd quarter. Gemmer Asset Management LLC now owns 858 shares of the transportation company’s stock worth $28,000 after purchasing an additional 590 shares during the last quarter. Bellevue Asset Management LLC lifted its holdings in CSX by 200.0% during the 2nd quarter. Bellevue Asset Management LLC now owns 900 shares of the transportation company’s stock worth $29,000 after purchasing an additional 600 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new position in CSX during the 2nd quarter worth $31,000. Strategic Blueprint LLC bought a new position in CSX during the 2nd quarter worth $32,000. Finally, SRS Capital Advisors Inc. bought a new position in CSX during the 2nd quarter worth $33,000. 71.79% of the stock is owned by institutional investors and hedge funds.

CSX stock opened at $32.58 on Thursday. The firm has a market cap of $73.45 billion, a PE ratio of 22.01, a P/E/G ratio of 1.80 and a beta of 1.14. The company has a quick ratio of 2.20, a current ratio of 2.34 and a debt-to-equity ratio of 1.21. The business has a 50 day moving average of $31.99 and a 200-day moving average of $32.90. CSX Co. has a 12-month low of $25.13 and a 12-month high of $34.96.

CSX (NASDAQ:CSX) last released its earnings results on Tuesday, July 20th. The transportation company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.02. The company had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.94 billion. CSX had a return on equity of 23.96% and a net margin of 29.93%. CSX’s quarterly revenue was up 32.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.22 earnings per share. On average, research analysts expect that CSX Co. will post 1.51 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 15th. Shareholders of record on Tuesday, November 30th will be given a dividend of $0.093 per share. The ex-dividend date is Monday, November 29th. This represents a $0.37 annualized dividend and a dividend yield of 1.14%. CSX’s dividend payout ratio is currently 30.33%.

Several brokerages have recently issued reports on CSX. Morgan Stanley lifted their price target on CSX from $20.67 to $21.00 and gave the company an “underweight” rating in a research note on Wednesday, July 7th. Stifel Nicolaus lifted their target price on CSX from $33.00 to $35.00 and gave the stock a “hold” rating in a report on Thursday, July 22nd. Zacks Investment Research downgraded CSX from a “buy” rating to a “hold” rating and set a $32.00 target price on the stock. in a report on Wednesday, September 29th. Evercore ISI reaffirmed a “buy” rating and set a $34.00 target price on shares of CSX in a report on Friday, September 24th. Finally, Susquehanna lifted their target price on CSX from $37.00 to $38.00 and gave the stock a “positive” rating in a report on Thursday, July 22nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $34.70.

In related news, Director John J. Zillmer sold 80,000 shares of the stock in a transaction on Monday, July 26th. The stock was sold at an average price of $32.64, for a total value of $2,611,200.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Mark Kenneth Wallace sold 161,487 shares of the stock in a transaction on Wednesday, September 8th. The shares were sold at an average price of $31.60, for a total value of $5,102,989.20. Following the completion of the transaction, the executive vice president now directly owns 314,766 shares in the company, valued at approximately $9,946,605.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 291,487 shares of company stock worth $9,367,739. Company insiders own 0.60% of the company’s stock.

CSX Profile

CSX Corp. engages in the provision of rail-based freight transportation services. Its services include rail service, the transport of intermodal containers and trailers, rail-to-truck transfers and bulk commodity operations. The company was founded in 1827 and is headquartered in Jacksonville, FL.

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Institutional Ownership by Quarter for CSX (NASDAQ:CSX)

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