First National Trust Co. decreased its stake in shares of CSX Corp. (NASDAQ:CSX) by 13.2% during the second quarter, Holdings Channel reports. The firm owned 35,582 shares of the company’s stock after selling 5,415 shares during the period. First National Trust Co.’s holdings in CSX Corp. were worth $928,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Legal & General Group Plc boosted its position 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 last quarter. Capital Analysts LLC boosted its position 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 last quarter. Meeder Asset Management Inc. bought a new position in shares of CSX Corp. during the first quarter worth about $454,000. Simmons Bank bought a new position in shares of CSX Corp. during the first quarter worth about $329,000. Finally, Shell Asset Management Co. boosted its position 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 last quarter. Institutional investors own 68.55% of the company’s stock.
Shares of CSX Corp. (NASDAQ:CSX) traded down 0.85% during trading on Tuesday, hitting $30.17. The stock had a trading volume of 5,863,068 shares. The stock’s 50-day moving average is $28.94 and its 200-day moving average is $27.22. The stock has a market capitalization of $28.54 billion, a P/E ratio of 16.47 and a beta of 1.23. CSX Corp. has a 12-month low of $21.33 and a 12-month high of $30.66.
CSX Corp. (NASDAQ:CSX) last released its earnings results on Wednesday, July 13th. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.03. The business had revenue of $2.70 billion for 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%. CSX Corp.’s quarterly revenue was down 11.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.56 earnings per share. Analysts predict that CSX Corp. will post $1.75 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date of this dividend was Monday, August 29th. CSX Corp.’s dividend payout ratio is currently 39.13%.
A number of equities analysts recently issued reports on CSX shares. JPMorgan Chase & Co. restated a “buy” rating on shares of CSX Corp. in a report on Friday, July 15th. Argus reiterated a “buy” rating and set a $35.00 price target on shares of CSX Corp. in a report on Friday, July 15th. Citigroup Inc. reiterated a “buy” rating and set a $29.00 price target on shares of CSX Corp. in a report on Thursday, July 14th. BMO Capital Markets reiterated a “buy” rating on shares of CSX Corp. in a report on Friday, June 10th. Finally, Bank of America Corp. reiterated a “buy” rating and set a $32.00 price target on shares of CSX Corp. in a report on Monday, September 12th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $29.54.
In other CSX Corp. news, President Clarence W. Gooden sold 17,332 shares of the business’s stock in a transaction that occurred on Monday, September 26th. The stock was sold at an average price of $29.44, for a total transaction of $510,254.08. Following the transaction, the president now owns 127,954 shares of the company’s stock, valued at $3,766,965.76. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.36% of the stock is owned by corporate insiders.
CSX Corp. Company Profile
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.
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