CSX Corporation $CSX Stake Lifted by Vise Technologies Inc.

Vise Technologies Inc. increased its holdings in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 58.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 93,254 shares of the transportation company's stock after purchasing an additional 34,315 shares during the quarter. Vise Technologies Inc.'s holdings in CSX were worth $4,337,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in CSX. Evolve Private Wealth LLC acquired a new stake in shares of CSX in the second quarter valued at about $693,000. M. Kulyk & Associates LLC bought a new stake in CSX during the second quarter worth about $8,145,000. Wealthfront Advisers LLC bought a new stake in CSX during the second quarter worth about $7,609,000. B. Metzler seel. Sohn & Co. AG bought a new stake in CSX during the second quarter worth about $6,598,000. Finally, First National Bank of Omaha acquired a new position in CSX during the second quarter valued at approximately $6,248,000. Institutional investors own 73.57% of the company's stock.

Insider Transactions at CSX

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

CSX Stock Down 1.7%

Shares of CSX stock opened at $50.72 on Wednesday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.75 and a current ratio of 0.84. The firm's 50-day moving average is $48.85 and its 200-day moving average is $45.67. The stock has a market cap of $93.50 billion, a price-to-earnings ratio of 26.28, a PEG ratio of 2.27 and a beta of 1.12. 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 issued its earnings results 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 business had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.96 billion. During the same period last year, the business posted $0.44 EPS. CSX's revenue was up 12.0% on a year-over-year basis. Sell-side analysts predict that CSX Corporation will post 2.04 EPS for the current year.

CSX Announces Dividend

The firm also recently disclosed 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 is Monday, November 30th. This represents a $0.56 annualized dividend and a yield of 1.1%. CSX's dividend payout ratio is currently 29.02%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Wall Street Zen downgraded CSX from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. JPMorgan Chase & Co. upped their price objective on CSX from $57.00 to $58.00 and gave the stock an "overweight" rating in a research note on Thursday, October 22nd. Truist Financial set a $46.00 price objective on CSX in a research note on Friday, July 10th. Weiss Ratings raised CSX from a "buy (b)" rating to a "buy (b+)" rating in a report on Thursday, October 29th. Finally, Robert W. Baird raised their target price on shares of CSX from $49.00 to $53.00 and gave the company an "outperform" rating in a research note on Tuesday, July 7th. Eighteen equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company 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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