LS Investment Advisors LLC boosted its stake in CSX Corp. (NASDAQ:CSX) by 6.6% during the second quarter, Holdings Channel reports. The institutional investor owned 38,833 shares of the company’s stock after buying an additional 2,390 shares during the period. LS Investment Advisors LLC’s holdings in CSX Corp. were worth $1,013,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of the company. State Street Corp boosted its stake in shares of CSX Corp. by 3.7% in the first quarter. State Street Corp now owns 39,232,512 shares of the company’s stock valued at $1,010,242,000 after buying an additional 1,398,858 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of CSX Corp. by 20.1% in the first quarter. Wellington Management Group LLP now owns 37,879,182 shares of the company’s stock valued at $975,389,000 after buying an additional 6,331,519 shares in the last quarter. Lazard Asset Management LLC boosted its stake in shares of CSX Corp. by 16.2% in the first quarter. Lazard Asset Management LLC now owns 28,572,157 shares of the company’s stock valued at $735,731,000 after buying an additional 3,977,973 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of CSX Corp. by 1.2% in the first quarter. Geode Capital Management LLC now owns 7,970,000 shares of the company’s stock valued at $204,819,000 after buying an additional 95,645 shares in the last quarter. Finally, Primecap Management Co. CA boosted its stake in shares of CSX Corp. by 5.0% in the first quarter. Primecap Management Co. CA now owns 4,793,950 shares of the company’s stock valued at $123,444,000 after buying an additional 228,350 shares in the last quarter. Institutional investors and hedge funds own 68.55% of the company’s stock.
Shares of CSX Corp. (NASDAQ:CSX) traded down 1.17% during trading on Tuesday, reaching $30.47. The company had a trading volume of 9,900,127 shares. The firm’s 50 day moving average price is $29.23 and its 200 day moving average price is $27.36. The firm has a market capitalization of $28.82 billion, a P/E ratio of 16.63 and a beta of 1.23. CSX Corp. has a 12 month low of $21.33 and a 12 month high of $31.31.
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, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.03. CSX Corp. had a return on equity of 15.24% and a net margin of 16.07%. The company had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.69 billion. During the same quarter in the previous year, the firm posted $0.56 EPS. The firm’s quarterly revenue was down 11.7% on a year-over-year basis. Equities analysts predict that CSX Corp. will post $1.75 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Wednesday, November 30th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.36%. The ex-dividend date of this dividend is Monday, November 28th. CSX Corp.’s payout ratio is 39.13%.
Several equities research analysts have weighed in on CSX shares. Bank of America Corp. reiterated a “buy” rating and issued a $32.00 target price on shares of CSX Corp. in a report on Monday, September 12th. BMO Capital Markets restated an “outperform” rating and set a $32.00 price objective (up from $29.00) on shares of CSX Corp. in a research note on Friday, July 15th. Deutsche Bank AG restated a “hold” rating and set a $29.00 price objective (up from $27.00) on shares of CSX Corp. in a research note on Friday, July 15th. Vertical Research assumed coverage on CSX Corp. in a research note on Tuesday. They set a “hold” rating for the company. Finally, Royal Bank Of Canada upped their price objective on CSX Corp. from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Friday, July 15th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus 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 in the company, valued at approximately $3,766,965.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.36% of the company’s stock.
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.
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