CSX Corporation $CSX Stock Holdings Boosted by Lido Advisors LLC

Lido Advisors LLC grew its stake in shares of CSX Corporation (NASDAQ:CSX) by 13.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 113,993 shares of the transportation company’s stock after acquiring an additional 13,127 shares during the quarter. Lido Advisors LLC’s holdings in CSX were worth $5,302,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Archer Investment Corp bought a new stake in shares of CSX in the 2nd quarter valued at about $26,000. N.E.W. Advisory Services LLC bought a new position in CSX during the 2nd quarter worth approximately $27,000. Pin Oak Investment Advisors Inc. bought a new position in CSX during the 2nd quarter worth approximately $29,000. Covestor Ltd boosted its stake in CSX by 51.7% during the 3rd quarter. Covestor Ltd now owns 619 shares of the transportation company’s stock worth $29,000 after acquiring an additional 211 shares during the last quarter. Finally, Manning & Napier Advisors LLC acquired a new position in CSX during the second quarter valued at approximately $30,000. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on CSX. BMO Capital Markets reaffirmed a “market perform” rating and issued a $52.00 target price (up from $49.00) on shares of CSX in a research note on Thursday, July 23rd. Barclays reissued an “overweight” rating and set a $60.00 price target (up from $55.00) on shares of CSX in a research report on Thursday, July 23rd. Deutsche Bank reissued a “buy” rating and issued a $59.00 price target on shares of CSX in a report on Friday, July 24th. Wall Street Zen cut shares of CSX from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Evercore set a $53.00 price objective on shares of CSX in a research report on Friday, October 23rd. Eighteen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, CSX has a consensus rating of “Moderate Buy” and a consensus target price of $52.20.

Insider Buying and Selling at CSX

In other news, Director John Zillmer sold 19,500 shares of the company’s stock in a transaction that occurred on Monday, October 26th. The shares were sold at an average price of $51.24, for a total value of $999,180.00. Following the completion of the transaction, the director owned 334,214 shares in the company, valued at $17,125,125.36. This represents a 5.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.30% of the stock is owned by company insiders.

CSX Trading Up 1.0%

NASDAQ:CSX opened at $52.40 on Friday. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.84 and a quick ratio of 0.75. The business’s 50-day simple moving average is $48.92 and its 200-day simple moving average is $46.18. CSX Corporation has a fifty-two week low of $33.63 and a fifty-two week high of $53.60. The stock has a market capitalization of $96.59 billion, a PE ratio of 27.15, a price-to-earnings-growth ratio of 2.27 and a beta of 1.12.

CSX (NASDAQ:CSX) last posted its earnings results on Wednesday, October 21st. The transportation company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.04. CSX had a return on equity of 25.94% and a net margin of 23.97%. The business had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.96 billion. During the same period in the prior year, the business earned $0.44 EPS. CSX’s revenue for the quarter was up 12.0% compared to the same quarter last year. Sell-side analysts expect that CSX Corporation will post 2.06 earnings per share for the current fiscal year.

CSX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Monday, November 30th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Monday, November 30th. This represents a $0.56 dividend on an annualized basis and a yield of 1.1%. CSX’s payout ratio is presently 29.02%.

About CSX

CSX Corporation is a freight transportation company that operates one of the largest rail networks in the eastern United States. Its rail system serves customers across much of the eastern U.S., as well as parts of Canada, and connects with other railroads and ports. CSX transports a broad range of goods, including chemicals, agricultural and food products, automobiles, minerals, forest products, coal and intermodal freight. Its services include rail transportation, intermodal shipping that combines rail and truck transport, and related logistics and supply-chain services.