Rathbones Group PLC Sells 99,757 Shares of CSX Corporation $CSX

Rathbones Group PLC cut its stake in CSX Corporation (NASDAQ:CSX) by 48.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 107,697 shares of the transportation company’s stock after selling 99,757 shares during the period. Rathbones Group PLC’s holdings in CSX were worth $3,904,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. FNY Investment Advisers LLC boosted its holdings in CSX by 437.3% in the third quarter. FNY Investment Advisers LLC now owns 720 shares of the transportation company’s stock valued at $25,000 after acquiring an additional 586 shares during the last quarter. WFA of San Diego LLC bought a new stake in CSX in the second quarter valued at approximately $28,000. Pinnacle Bancorp Inc. boosted its holdings in CSX by 121.5% in the third quarter. Pinnacle Bancorp Inc. now owns 1,329 shares of the transportation company’s stock valued at $47,000 after acquiring an additional 729 shares during the last quarter. Aventura Private Wealth LLC bought a new stake in CSX in the fourth quarter valued at approximately $63,000. Finally, Sunbelt Securities Inc. bought a new stake in CSX in the third quarter valued at approximately $67,000. 73.57% of the stock is currently owned by institutional investors.

CSX Price Performance

Shares of CSX opened at $41.48 on Tuesday. CSX Corporation has a 52-week low of $26.22 and a 52-week high of $43.35. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.69 and a current ratio of 0.81. The business’s 50 day moving average price is $40.43 and its two-hundred day moving average price is $37.36. The firm has a market cap of $77.18 billion, a PE ratio of 26.94, a price-to-earnings-growth ratio of 2.29 and a beta of 1.25.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Thursday, January 22nd. The transportation company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.02). CSX had a net margin of 20.50% and a return on equity of 23.88%. The business had revenue of $3.51 billion during the quarter, compared to analyst estimates of $3.59 billion. During the same period last year, the firm posted $0.42 earnings per share. CSX’s quarterly revenue was down .9% compared to the same quarter last year. On average, equities analysts anticipate that CSX Corporation will post 1.83 EPS for the current year.

CSX Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 27th were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.4%. This is a boost from CSX’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Friday, February 27th. CSX’s payout ratio is presently 36.36%.

Insider Buying and Selling at CSX

In other news, EVP Stephen Fortune sold 31,456 shares of the company’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $38.65, for a total transaction of $1,215,774.40. Following the transaction, the executive vice president directly owned 82,034 shares of the company’s stock, valued at $3,170,614.10. This represents a 27.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Diana B. Sorfleet sold 90,000 shares of the company’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $41.56, for a total value of $3,740,400.00. Following the transaction, the chief accounting officer directly owned 165,613 shares in the company, valued at $6,882,876.28. The trade was a 35.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 188,123 shares of company stock valued at $7,454,854. 0.55% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

CSX has been the topic of several analyst reports. JPMorgan Chase & Co. reduced their target price on CSX from $43.00 to $41.00 and set an “overweight” rating on the stock in a report on Friday, January 23rd. Susquehanna reiterated a “neutral” rating and issued a $39.00 target price on shares of CSX in a report on Friday, January 23rd. Wolfe Research upped their target price on CSX from $42.00 to $44.00 and gave the company an “outperform” rating in a report on Tuesday, March 10th. Evercore cut CSX from an “outperform” rating to an “in-line” rating and set a $41.00 target price on the stock. in a report on Thursday, March 19th. Finally, Rothschild & Co Redburn boosted their price target on CSX from $42.50 to $45.50 and gave the company a “buy” rating in a research note on Wednesday, April 1st. Eighteen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, CSX has an average rating of “Moderate Buy” and an average target price of $41.19.

About CSX

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.