Glenview Trust co Acquires 9,397 Shares of CSX Corporation $CSX

Key Points

• Glenview Trust Co increased its stake in CSX Corporation by 1.1%, owning 845,263 shares valued at $24.88 million after acquiring an additional 9,397 shares in the first quarter.
• CSX reported earnings of $0.44 per share for the last quarter, beating estimates and seeing revenue of $3.57 billion, despite a 3.5% decrease compared to the previous year.
• The company announced a quarterly dividend of $0.13 per share, representing a 1.6% yield, with a payout ratio of 32.10% for shareholders of record on August 29th.

Glenview Trust co grew its holdings in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 1.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 845,263 shares of the transportation company's stock after purchasing an additional 9,397 shares during the period. Glenview Trust co's holdings in CSX were worth $24,876,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Associated Banc Corp boosted its holdings in CSX by 0.9% in the 1st quarter. Associated Banc Corp now owns 40,384 shares of the transportation company's stock valued at $1,189,000 after purchasing an additional 356 shares during the last quarter. Portside Wealth Group LLC grew its position in shares of CSX by 1.3% in the 1st quarter. Portside Wealth Group LLC now owns 27,335 shares of the transportation company's stock valued at $804,000 after buying an additional 361 shares during the last quarter. Ullmann Wealth Partners Group LLC boosted its stake in CSX by 1.3% during the 1st quarter. Ullmann Wealth Partners Group LLC now owns 29,276 shares of the transportation company's stock worth $862,000 after purchasing an additional 363 shares during the period. LRI Investments LLC lifted its stake in shares of CSX by 4.8% in the first quarter. LRI Investments LLC now owns 8,254 shares of the transportation company's stock valued at $243,000 after purchasing an additional 375 shares during the period. Finally, Patrick M Sweeney & Associates Inc. increased its holdings in CSX by 1.2% during the 1st quarter. Patrick M Sweeney & Associates Inc. now owns 32,205 shares of the transportation company's stock valued at $948,000 after acquiring an additional 378 shares in the last quarter. Institutional investors own 73.57% of the company's stock.

Wall Street Analyst Weigh In

CSX has been the subject of several research reports. Robert W. Baird boosted their price objective on shares of CSX from $38.00 to $44.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. Benchmark upped their price target on shares of CSX from $37.00 to $40.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Citigroup upped their price target on shares of CSX from $36.00 to $38.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. TD Cowen raised shares of CSX from a "hold" rating to a "buy" rating and upped their price objective for the company from $32.00 to $45.00 in a research note on Monday, July 21st. Finally, JPMorgan Chase & Co. increased their price objective on CSX from $34.00 to $41.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $37.00.

CSX Stock Down 1.2%

NASDAQ CSX traded down $0.38 during trading on Friday, hitting $32.47. The stock had a trading volume of 9,253,621 shares, compared to its average volume of 21,929,234. The company has a market capitalization of $60.53 billion, a PE ratio of 20.04, a P/E/G ratio of 2.45 and a beta of 1.25. CSX Corporation has a 12 month low of $26.22 and a 12 month high of $37.25. The company's 50-day moving average price is $34.26 and its two-hundred day moving average price is $31.64. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.63 and a current ratio of 0.77.

CSX (NASDAQ:CSX - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The transportation company reported $0.44 EPS for the quarter, beating analysts' consensus estimates of $0.42 by $0.02. CSX had a return on equity of 25.48% and a net margin of 21.92%.The firm had revenue of $3.57 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same period in the prior year, the firm posted $0.49 EPS. The company's revenue for the quarter was down 3.5% on a year-over-year basis. As a group, sell-side analysts forecast that CSX Corporation will post 1.83 EPS for the current year.

CSX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Friday, August 29th. CSX's dividend payout ratio (DPR) is currently 32.10%.

CSX Profile

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services; and transportation of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations. It also transports chemicals, agricultural and food products, minerals, automotive, forest products, fertilizers, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants, as well as exports coal to deep-water port facilities.