27,076 CSX Corporation $CSX Shares Purchased by Ausbil Investment Management Ltd

Key Points

• Ausbil Investment Management increased its CSX stake by 10.4% in the third quarter, acquiring 27,076 shares and bringing its holdings to 288,186 shares valued at approximately $13.4 million. CSX now represents 6.8% of Ausbil’s portfolio, while institutional investors collectively own 73.57% of the company.
• Analyst sentiment remains favorable, with 18 Buy, seven Hold, and one Sell rating, producing a consensus “Moderate Buy” and an average price target of about $51.06 versus the reported share price of $46.81.
• CSX exceeded quarterly expectations with adjusted earnings of $0.54 per share and revenue of $3.94 billion, up 10.1% year over year, and maintains a quarterly dividend of $0.14. However, two company insiders sold shares, and the stock was recently down 1.5%.

Ausbil Investment Management Ltd grew its position in CSX Corporation (NASDAQ:CSX - Free Report) by 10.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 288,186 shares of the transportation company's stock after purchasing an additional 27,076 shares during the period. CSX comprises about 6.8% of Ausbil Investment Management Ltd's portfolio, making the stock its largest position. Ausbil Investment Management Ltd's holdings in CSX were worth $13,404,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CSX. Evolve Private Wealth LLC bought a new position in CSX during the second quarter worth about $693,000. M. Kulyk & Associates LLC bought a new stake in shares of CSX in the second quarter worth about $8,145,000. Wealthfront Advisers LLC bought a new stake in shares of CSX in the second quarter worth about $7,609,000. B. Metzler seel. Sohn & Co. AG acquired a new stake in shares of CSX during the second quarter worth about $6,598,000. Finally, First National Bank of Omaha acquired a new stake in shares of CSX during the second quarter worth about $6,248,000. Institutional investors and hedge funds own 73.57% of the company's stock.

Insider Buying and Selling at CSX

In related news, SVP Michael S. Burns sold 13,000 shares of CSX stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $52.68, for a total value of $684,840.00. Following the sale, the senior vice president owned 59,643 shares of the company's stock, valued at approximately $3,141,993.24. The trade was a 17.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Angela C. Williams sold 30,000 shares of the company's stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $53.29, for a total value of $1,598,700.00. Following the sale, the chief accounting officer owned 10,437 shares in the company, valued at $556,187.73. The trade was a 74.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

CSX has been the subject of several research analyst reports. Morgan Stanley set a $32.00 price objective on CSX and gave the company an "underweight" rating in a research report on Monday, July 6th. Barclays restated an "overweight" rating and set a $60.00 target price (up from $55.00) on shares of CSX in a report on Thursday, July 23rd. Susquehanna reduced their price target on shares of CSX from $59.00 to $55.00 and set a "positive" rating for the company in a report on Friday, October 2nd. Bank of America lowered their price objective on shares of CSX from $56.00 to $55.00 and set a "buy" rating for the company in a research report on Friday, September 18th. Finally, Wall Street Zen lowered shares of CSX from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Eighteen research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $51.06.

CSX Stock Down 1.5%

Shares of CSX stock opened at $46.81 on Thursday. The firm has a market cap of $86.71 billion, a PE ratio of 27.06, a P/E/G ratio of 2.23 and a beta of 1.21. The business's 50 day simple moving average is $49.13 and its 200 day simple moving average is $46.94. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.72 and a current ratio of 0.82. CSX Corporation has a 52-week low of $33.63 and a 52-week high of $53.60.

CSX (NASDAQ:CSX - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share for the quarter, topping analysts' consensus estimates of $0.52 by $0.02. CSX had a return on equity of 24.98% and a net margin of 22.21%.The firm had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter in the prior year, the firm posted $0.44 EPS. The business's revenue was up 10.1% on a year-over-year basis. On average, analysts predict that CSX Corporation will post 2 earnings per share for the current fiscal year.

CSX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.2%. The ex-dividend date was Monday, August 31st. CSX's payout ratio is presently 32.37%.

CSX News Roundup

Here are the key news stories impacting CSX this week:

• Positive Sentiment: Wall Street analysts collectively rate CSX a “Moderate Buy,” indicating that the broader analyst view remains supportive. CSX Corporation Stock Rated Moderate Buy by Wall Street Analysts
• Neutral Sentiment: CSX’s consensus price target was reported at approximately $51.09, above the referenced share price, suggesting analysts see potential upside; however, the stock still declined as investors weighed the mixed signals. CSX Stock and Consensus Target
• Neutral Sentiment: CSX announced the return of its annual Santa Train to Appalachia on November 21. The community initiative reinforces the company’s local presence but is not expected to have a meaningful effect on earnings or valuation. CSX Santa Train Returning to Eastern Kentucky
• Negative Sentiment: Citigroup lowered its CSX price target from $54 to $53 and assigned a “Neutral” rating. Although the revised target still implies upside, the cut signals reduced confidence in near-term appreciation and likely contributed to selling pressure. Citigroup Lowers CSX Price Target
• Negative Sentiment: A bearish Seeking Alpha analysis characterized CSX as a stock it is not yet willing to buy, reinforcing investor concerns about valuation and the railroad’s ability to generate stronger near-term returns. CSX Corporation Analysis

CSX Company Profile

CSX Corporation NASDAQ: CSX is a transportation company that provides rail-based freight services through its principal subsidiary, CSX Transportation. The company moves a broad range of products, including agricultural and food products, chemicals, minerals, forest products, metals, automotive shipments, and consumer goods.

CSX also provides intermodal transportation, connecting rail shipments with trucks, ports, and distribution facilities. Its network serves the eastern United States and reaches parts of Canada, linking major industrial regions, population centers, manufacturing locations, and Atlantic and Gulf Coast ports.

CSX traces its history to the 1980 merger of Chessie System and Seaboard Coast Line Industries.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.