One Way Holdings LLC Makes New $9.88 Million Investment in CSX Corporation $CSX

Key Points

• One Way Holdings LLC initiated a $9.88 million CSX position, buying 212,417 shares in the third quarter. Institutional investors and hedge funds collectively own 73.57% of CSX.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and a $52.20 price target; several firms recently raised their targets, including Susquehanna to $60.
• CSX exceeded quarterly earnings expectations, reporting $0.57 EPS and $4.02 billion in revenue, while revenue rose 12% year over year. The company also declared a quarterly dividend of $0.14 per share, yielding about 1.1% annually.

One Way Holdings LLC bought a new stake in shares of CSX Corporation (NASDAQ:CSX - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 212,417 shares of the transportation company's stock, valued at approximately $9,880,000.

A number of other institutional investors also recently made changes to their positions in the business. Virtue Capital Management LLC increased its holdings in CSX by 1.6% in the third quarter. Virtue Capital Management LLC now owns 12,545 shares of the transportation company's stock valued at $583,000 after buying an additional 201 shares during the last quarter. Greenleaf Trust grew its position in shares of CSX by 17.2% in the 3rd quarter. Greenleaf Trust now owns 80,922 shares of the transportation company's stock worth $3,764,000 after acquiring an additional 11,899 shares in the last quarter. Bell Investment Advisors Inc lifted its stake in CSX by 391.2% during the third quarter. Bell Investment Advisors Inc now owns 948 shares of the transportation company's stock worth $44,000 after purchasing an additional 755 shares during the last quarter. Verus Financial Partners Inc. boosted its holdings in CSX by 122.6% in the third quarter. Verus Financial Partners Inc. now owns 10,988 shares of the transportation company's stock worth $511,000 after purchasing an additional 6,052 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in CSX during the third quarter valued at $61,275,000. 73.57% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CSX shares. Benchmark reaffirmed a "buy" rating and set a $54.00 price objective (up from $48.00) on shares of CSX in a research report on Wednesday, July 15th. TD Cowen reaffirmed a "buy" rating and set a $55.00 target price (up from $54.00) on shares of CSX in a report on Thursday, October 22nd. Weiss Ratings upgraded CSX from a "buy (b)" rating to a "buy (b+)" rating in a research report on Thursday. Argus set a $56.00 price target on CSX in a report on Friday, July 31st. Finally, Susquehanna boosted their price objective on CSX from $55.00 to $60.00 and gave the company a "positive" rating in a research report on Tuesday, October 27th. 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 stock. According to MarketBeat.com, CSX has a consensus rating of "Moderate Buy" and a consensus price target of $52.20.

Insider Activity

In other news, Director John Zillmer sold 19,500 shares of the firm's stock in a transaction 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 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 sale was disclosed in a filing with the SEC, which is available at this link. 0.30% of the stock is owned by insiders.

CSX Price Performance

NASDAQ:CSX opened at $51.99 on Monday. The business's 50-day moving average price is $48.86 and its 200 day moving average price is $45.51. The firm has a market cap of $95.84 billion, a P/E ratio of 26.94, a PEG ratio of 2.29 and a beta of 1.21. The company has a quick ratio of 0.75, a current ratio of 0.84 and a debt-to-equity ratio of 1.19. 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 earnings results on Wednesday, October 21st. The transportation company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.53 by $0.04. The business had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.96 billion. CSX had a net margin of 23.97% and a return on equity of 25.94%. The business's quarterly revenue was up 12.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.44 earnings per share. As a group, sell-side analysts predict that CSX Corporation will post 2.04 earnings per share for the current fiscal year.

CSX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Monday, November 30th will be issued a dividend of $0.14 per share. The ex-dividend date is Monday, November 30th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.1%. CSX's payout ratio is currently 29.02%.

CSX Company 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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