CSX Corporation $CSX Shares Bought by Miller Howard Investments Inc. NY

Miller Howard Investments Inc. NY raised its position in CSX Corporation (NASDAQ:CSX) by 6.8% in the first quarter, Holdings Channel.com reports. The institutional investor owned 238,817 shares of the transportation company’s stock after purchasing an additional 15,310 shares during the period. Miller Howard Investments Inc. NY’s holdings in CSX were worth $9,803,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Syon Capital LLC grew its position in shares of CSX by 1.0% during the fourth quarter. Syon Capital LLC now owns 28,316 shares of the transportation company’s stock worth $1,026,000 after acquiring an additional 287 shares during the last quarter. Root Financial Partners LLC raised its position in CSX by 7.3% in the 4th quarter. Root Financial Partners LLC now owns 4,757 shares of the transportation company’s stock valued at $172,000 after purchasing an additional 323 shares during the last quarter. Walled Lake Planning & Wealth Management LLC raised its position in CSX by 2.7% in the 4th quarter. Walled Lake Planning & Wealth Management LLC now owns 13,235 shares of the transportation company’s stock valued at $480,000 after purchasing an additional 346 shares during the last quarter. Sumitomo Life Insurance Co. boosted its stake in CSX by 0.9% during the 4th quarter. Sumitomo Life Insurance Co. now owns 39,996 shares of the transportation company’s stock worth $1,450,000 after purchasing an additional 347 shares during the period. Finally, Gleason Group Inc. boosted its stake in CSX by 19.1% during the 4th quarter. Gleason Group Inc. now owns 2,646 shares of the transportation company’s stock worth $96,000 after purchasing an additional 425 shares during the period. 73.57% of the stock is owned by institutional investors and hedge funds.

CSX Stock Down 0.1%

Shares of NASDAQ:CSX opened at $46.16 on Wednesday. The company has a market cap of $85.77 billion, a price-to-earnings ratio of 28.32, a PEG ratio of 2.31 and a beta of 1.22. The firm’s 50-day simple moving average is $45.43 and its 200-day simple moving average is $41.15. The company has a quick ratio of 0.83, a current ratio of 0.97 and a debt-to-equity ratio of 1.34. CSX Corporation has a fifty-two week low of $31.80 and a fifty-two week high of $48.03.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Wednesday, April 22nd. The transportation company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.04. The business had revenue of $3.48 billion for the quarter, compared to analyst estimates of $3.50 billion. CSX had a net margin of 21.55% and a return on equity of 24.47%. The business’s revenue was up 1.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.34 earnings per share. As a group, equities research analysts predict that CSX Corporation will post 1.9 earnings per share for the current year.

CSX Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were given a $0.14 dividend. The ex-dividend date was Friday, May 29th. This represents a $0.56 annualized dividend and a yield of 1.2%. CSX’s dividend payout ratio is presently 34.36%.

Insider Buying and Selling at CSX

In other news, CFO Kevin S. Boone sold 136,708 shares of the company’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $46.70, for a total transaction of $6,384,263.60. Following the transaction, the chief financial officer directly owned 208,622 shares of the company’s stock, valued at $9,742,647.40. This represents a 39.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John J. Zillmer sold 10,000 shares of the stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $46.45, for a total transaction of $464,500.00. Following the completion of the transaction, the director owned 353,714 shares of the company’s stock, valued at $16,430,015.30. This represents a 2.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.30% of the company’s stock.

Wall Street Analysts Forecast Growth

CSX has been the topic of a number of recent research reports. New Street Research set a $49.00 price objective on shares of CSX in a research note on Thursday, April 23rd. Jefferies Financial Group increased their target price on shares of CSX from $50.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. Royal Bank Of Canada reissued an “outperform” rating on shares of CSX in a report on Monday, June 15th. JPMorgan Chase & Co. boosted their price target on CSX from $42.00 to $48.00 and gave the company an “overweight” rating in a research report on Thursday, April 23rd. Finally, Evercore boosted their target price on CSX from $44.00 to $46.00 in a report on Monday, May 11th. Sixteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, CSX currently has an average rating of “Moderate Buy” and an average target price of $46.50.

CSX Profile

CSX Corporation is a leading North American transportation company that provides rail-based freight services and supply-chain solutions. Its operating subsidiary, CSX Transportation, moves a wide range of goods for customers across multiple industries, using a combination of long-haul rail service, intermodal operations and terminal and yard services. The company focuses on delivering efficient, reliable freight transportation between major production centers, consumption markets and port gateways.

CSX’s freight portfolio includes intermodal containers and trailers, bulk commodities, industrial products and specialized unit trains.