45,769 CSX Corporation $CSX Shares Purchased by Rakuten Investment Management Inc.

Key Points

• Rakuten Investment Management increased its CSX stake by 10.2%, buying 45,769 shares in the third quarter and ending the period with 493,565 shares valued at about $23.2 million. Institutional investors collectively own 73.57% of CSX.
• CSX reported quarterly EPS of $0.57, above the $0.53 consensus, and revenue of $4.02 billion, up 12% year over year. The company declared a quarterly dividend of $0.14 per share, equivalent to a 1.1% annualized yield.
• Analyst sentiment was broadly positive: 18 analysts rated CSX a Buy, seven a Hold, and one a Sell, for a consensus “Moderate Buy” rating and a $52.20 price target.

Rakuten Investment Management Inc. lifted its stake in CSX Corporation (NASDAQ:CSX - Free Report) by 10.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 493,565 shares of the transportation company's stock after purchasing an additional 45,769 shares during the period. Rakuten Investment Management Inc.'s holdings in CSX were worth $23,163,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CSX. Markel Group Inc. increased its position in CSX by 2.2% in the third quarter. Markel Group Inc. now owns 597,500 shares of the transportation company's stock worth $27,790,000 after buying an additional 13,000 shares in the last quarter. Provenance Wealth Advisors LLC grew its stake in shares of CSX by 31.8% during the 3rd quarter. Provenance Wealth Advisors LLC now owns 2,763 shares of the transportation company's stock valued at $129,000 after acquiring an additional 667 shares during the period. Associated Banc Corp bought a new position in shares of CSX during the 3rd quarter valued at approximately $1,746,000. Putney Financial Group LLC purchased a new stake in CSX in the 3rd quarter worth approximately $172,000. Finally, Integrity Alliance LLC. increased its holdings in CSX by 2.5% in the 3rd quarter. Integrity Alliance LLC. now owns 38,067 shares of the transportation company's stock worth $1,770,000 after acquiring an additional 938 shares in the last quarter. 73.57% of the stock is owned by institutional investors.

Insider Transactions at CSX

In other CSX news, Director John Zillmer sold 19,500 shares of the business's stock in a transaction 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 sale, the director owned 334,214 shares in the company, valued at $17,125,125.36. The trade was a 5.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.30% of the company's stock.

CSX Stock Down 1.7%

NASDAQ CSX opened at $50.72 on Wednesday. CSX Corporation has a 12 month low of $33.63 and a 12 month high of $53.60. The company has a current ratio of 0.84, a quick ratio of 0.75 and a debt-to-equity ratio of 1.19. The stock has a market cap of $93.50 billion, a PE ratio of 26.28, a P/E/G ratio of 2.27 and a beta of 1.12. The stock's 50 day moving average is $48.85 and its 200 day moving average is $45.67.

CSX (NASDAQ:CSX - Get Free Report) last released its quarterly earnings data on Wednesday, October 21st. The transportation company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.04. CSX had a net margin of 23.97% and a return on equity of 25.94%. The firm had revenue of $4.02 billion for the quarter, compared to analysts' expectations of $3.96 billion. During the same quarter last year, the business posted $0.44 earnings per share. The company's revenue for the quarter was up 12.0% compared to the same quarter last year. Research analysts predict that CSX Corporation will post 2.04 EPS for the current fiscal year.

CSX Announces Dividend

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 issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Monday, November 30th. CSX's payout ratio is currently 29.02%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CSX. Argus set a $56.00 price target on shares of CSX in a report on Friday, July 31st. Susquehanna increased their price objective on shares of CSX from $55.00 to $60.00 and gave the stock a "positive" rating in a research note on Tuesday, October 27th. JPMorgan Chase & Co. increased their price objective on shares of CSX from $57.00 to $58.00 and gave the stock an "overweight" rating in a research note on Thursday, October 22nd. Evercore set a $53.00 price objective on shares of CSX in a research report on Friday, October 23rd. Finally, Citizens Jmp started coverage on shares of CSX in a research note on Wednesday, July 15th. They set a "market perform" rating on the stock. Eighteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, CSX currently has an average rating of "Moderate Buy" and a consensus price target of $52.20.

CSX Profile

CSX Corporation is a transportation company whose primary business is freight railroading through its CSX Transportation subsidiary. The company operates an extensive rail network across the eastern United States, serving major industrial centers, population hubs, ports and distribution markets.

CSX transports a broad range of products, including chemicals, agricultural and food products, forest products, minerals, metals, automotive goods and other manufactured merchandise. Its services also include intermodal transportation, which combines rail service with trucks and containers, as well as the movement of coal and other bulk commodities.

The company traces its roots to the formation of CSX Corporation in 1980 through the merger of Chessie System and Seaboard Coast Line Industries.

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