Westpac Banking Corp raised its position in shares of CSX Corp. (NASDAQ:CSX) by 8.5% during the second quarter, Holdings Channel reports. The firm owned 56,655 shares of the company’s stock after buying an additional 4,443 shares during the period. Westpac Banking Corp’s holdings in CSX Corp. were worth $1,478,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in the stock. Legal & General Group Plc boosted its stake in shares of CSX Corp. by 1.6% in the first quarter. Legal & General Group Plc now owns 4,290,750 shares of the company’s stock worth $110,488,000 after buying an additional 66,790 shares during the period. Capital Analysts LLC boosted its stake in shares of CSX Corp. by 241.5% in the second quarter. Capital Analysts LLC now owns 7,567 shares of the company’s stock worth $711,000 after buying an additional 5,351 shares during the period. Meeder Asset Management Inc. acquired a new stake in shares of CSX Corp. during the first quarter worth about $454,000. Simmons Bank acquired a new stake in shares of CSX Corp. during the first quarter worth about $329,000. Finally, Shell Asset Management Co. boosted its stake in shares of CSX Corp. by 24.9% in the second quarter. Shell Asset Management Co. now owns 121,231 shares of the company’s stock worth $3,162,000 after buying an additional 24,202 shares during the period. 68.55% of the stock is owned by institutional investors.
Shares of CSX Corp. (NASDAQ:CSX) traded up 0.70% during mid-day trading on Friday, hitting $30.20. 853,684 shares of the stock were exchanged. The stock has a market cap of $28.57 billion, a PE ratio of 16.48 and a beta of 1.32. The stock’s 50 day moving average is $28.74 and its 200-day moving average is $27.13. CSX Corp. has a 12 month low of $21.33 and a 12 month high of $30.53.
CSX Corp. (NASDAQ:CSX) last released its quarterly earnings data on Wednesday, July 13th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.03. The firm earned $2.70 billion during the quarter, compared to the consensus estimate of $2.69 billion. CSX Corp. had a return on equity of 15.24% and a net margin of 16.07%. The firm’s quarterly revenue was down 11.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.56 earnings per share. On average, analysts anticipate that CSX Corp. will post $1.75 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were issued a $0.18 dividend. The ex-dividend date of this dividend was Monday, August 29th. This represents a $0.72 annualized dividend and a dividend yield of 2.40%. CSX Corp.’s payout ratio is currently 39.13%.
A number of equities research analysts recently commented on CSX shares. Citigroup Inc. upped their price target on shares of CSX Corp. from $29.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, September 13th. BMO Capital Markets reiterated an “outperform” rating and set a $29.00 price target on shares of CSX Corp. in a report on Thursday, July 7th. Bank of America Corp. restated a “buy” rating and issued a $32.00 price objective on shares of CSX Corp. in a report on Monday, September 12th. Wolfe Research upgraded shares of CSX Corp. from a “market perform” rating to an “outperform” rating and set a $35.00 price objective for the company in a report on Tuesday, September 13th. Finally, Loop Capital restated a “hold” rating and issued a $31.00 price objective on shares of CSX Corp. in a report on Thursday, September 1st. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have assigned a buy rating to the stock. CSX Corp. presently has an average rating of “Hold” and a consensus target price of $29.54.
In related news, President Clarence W. Gooden sold 17,332 shares of CSX Corp. stock in a transaction dated Monday, September 26th. The stock was sold at an average price of $29.44, for a total value of $510,254.08. Following the completion of the sale, the president now directly owns 127,954 shares in the company, valued at $3,766,965.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.36% of the stock is owned by corporate insiders.
About CSX Corp.
CSX Corporation, together with its subsidiaries, is a transportation company. The Company provides rail-based transportation services, including rail service and the transport of intermodal containers and trailers. The Company serves three lines of business, such as merchandise business, coal business and intermodal business.
Want to see what other hedge funds are holding CSX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CSX Corp. (NASDAQ:CSX).
Receive News & Ratings for CSX Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CSX Corp. and related companies with MarketBeat.com's FREE daily email newsletter.