BNB Wealth Management LLC purchased a new position in shares of CSX Corporation (NASDAQ:CSX - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 31,046 shares of the transportation company's stock, valued at approximately $1,125,000.
Several other large investors have also recently bought and sold shares of CSX. Cbre Investment Management Listed Real Assets LLC increased its stake in CSX by 81.9% in the third quarter. Cbre Investment Management Listed Real Assets LLC now owns 944,946 shares of the transportation company's stock valued at $33,555,000 after purchasing an additional 425,395 shares in the last quarter. Pinebridge Investments LLC bought a new stake in CSX in the fourth quarter valued at approximately $5,979,000. Cohen & Steers Inc. increased its stake in CSX by 1.2% in the fourth quarter. Cohen & Steers Inc. now owns 8,282,107 shares of the transportation company's stock valued at $300,226,000 after purchasing an additional 98,977 shares in the last quarter. Allstate Corp increased its stake in CSX by 105.7% in the fourth quarter. Allstate Corp now owns 136,869 shares of the transportation company's stock valued at $4,962,000 after purchasing an additional 70,326 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its stake in CSX by 159.5% in the fourth quarter. Farther Finance Advisors LLC now owns 73,410 shares of the transportation company's stock valued at $2,661,000 after purchasing an additional 45,116 shares in the last quarter. Institutional investors own 73.57% of the company's stock.
Insider Activity
In other CSX news, CFO Kevin S. Boone sold 136,708 shares of CSX stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $46.70, for a total value of $6,384,263.60. Following the completion of the sale, the chief financial officer owned 208,622 shares in the company, valued at $9,742,647.40. The trade was a 39.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John J. Zillmer sold 10,000 shares of CSX stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $46.45, for a total transaction of $464,500.00. Following the completion of the sale, the director owned 353,714 shares of the company's stock, valued at $16,430,015.30. This trade represents a 2.75% decrease in their position. The SEC filing for this sale provides additional information. 0.30% of the stock is owned by insiders.
CSX Stock Performance
NASDAQ CSX opened at $45.57 on Thursday. The firm has a 50-day moving average of $45.13 and a 200-day moving average of $40.85. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.83 and a current ratio of 0.97. The stock has a market cap of $84.68 billion, a PE ratio of 27.96, a P/E/G ratio of 2.43 and a beta of 1.22. CSX Corporation has a 52-week low of $31.80 and a 52-week high of $48.03.
CSX (NASDAQ:CSX - Get Free Report) last posted its earnings results on Wednesday, April 22nd. The transportation company reported $0.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.39 by $0.04. CSX had a net margin of 21.55% and a return on equity of 24.47%. The company had revenue of $3.48 billion during the quarter, compared to analysts' expectations of $3.50 billion. During the same quarter last year, the company posted $0.34 EPS. CSX's quarterly revenue was up 1.7% compared to the same quarter last year. On average, sell-side analysts anticipate that CSX Corporation will post 1.9 EPS for the current year.
CSX Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were paid a $0.14 dividend. The ex-dividend date was Friday, May 29th. This represents a $0.56 annualized dividend and a yield of 1.2%. CSX's payout ratio is 34.36%.
Analyst Ratings Changes
CSX has been the subject of several recent analyst reports. Evercore upped their target price on shares of CSX from $44.00 to $46.00 in a research note on Monday, May 11th. Raymond James Financial boosted their price objective on shares of CSX from $45.00 to $49.00 and gave the company an "outperform" rating in a research report on Thursday, April 23rd. Jefferies Financial Group boosted their price objective on shares of CSX from $50.00 to $52.00 and gave the company a "buy" rating in a research report on Thursday, April 23rd. JPMorgan Chase & Co. increased their target price on shares of CSX from $42.00 to $48.00 and gave the stock an "overweight" rating in a report on Thursday, April 23rd. Finally, The Goldman Sachs Group restated a "neutral" rating and set a $41.00 target price (up from $37.00) on shares of CSX in a report on Thursday, April 23rd. Sixteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $46.50.
Read Our Latest Stock Analysis on CSX
About CSX
(
Free Report)
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.
See Also
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