Daiwa Securities Group Inc. increased its position in shares of CSX Co. (NASDAQ:CSX) by 17.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 99,825 shares of the transportation company’s stock after buying an additional 14,668 shares during the period. Daiwa Securities Group Inc.’s holdings in CSX were worth $6,915,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Krane Funds Advisors LLC acquired a new stake in shares of CSX during the 2nd quarter worth about $25,000. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its position in shares of CSX by 88.5% during the 3rd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 426 shares of the transportation company’s stock worth $29,000 after purchasing an additional 200 shares in the last quarter. SRS Capital Advisors Inc. acquired a new stake in shares of CSX during the 2nd quarter worth about $32,000. Kavar Capital Partners LLC acquired a new stake in shares of CSX during the 2nd quarter worth about $35,000. Finally, FNY Investment Advisers LLC acquired a new stake in shares of CSX during the 2nd quarter worth about $36,000. 77.80% of the stock is owned by institutional investors and hedge funds.
In other CSX news, Director Ridge Lp Mantle sold 3,453,894 shares of the business’s stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $67.91, for a total transaction of $234,553,941.54. Following the completion of the transaction, the director now owns 8,263 shares of the company’s stock, valued at $561,140.33. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Steven T. Halverson sold 39,812 shares of the business’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $71.65, for a total value of $2,852,529.80. The disclosure for this sale can be found here. Insiders own 4.83% of the company’s stock.
CSX stock traded down $0.05 during midday trading on Friday, hitting $74.03. 2,240,415 shares of the stock were exchanged, compared to its average volume of 4,946,155. The company has a quick ratio of 1.33, a current ratio of 1.41 and a debt-to-equity ratio of 1.35. The stock has a market capitalization of $57.80 billion, a PE ratio of 19.28, a P/E/G ratio of 1.38 and a beta of 1.22. The company has a fifty day simple moving average of $69.67 and a two-hundred day simple moving average of $72.61. CSX Co. has a 52 week low of $58.47 and a 52 week high of $80.73.
CSX (NASDAQ:CSX) last announced its earnings results on Wednesday, October 16th. The transportation company reported $1.08 EPS for the quarter, topping the consensus estimate of $1.02 by $0.06. CSX had a net margin of 27.91% and a return on equity of 27.67%. The firm had revenue of $2.98 billion for the quarter, compared to the consensus estimate of $2.98 billion. During the same period last year, the company posted $1.05 EPS. The business’s quarterly revenue was down 4.8% on a year-over-year basis. As a group, equities research analysts anticipate that CSX Co. will post 4.18 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a $0.24 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.30%. CSX’s payout ratio is presently 25.00%.
Several equities research analysts have weighed in on the stock. Raymond James lowered their price objective on shares of CSX from $81.00 to $80.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Argus set a $82.00 target price on shares of CSX and gave the company a “buy” rating in a research note on Friday, October 18th. Stephens lowered shares of CSX from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $86.00 to $79.00 in a research note on Wednesday, July 17th. Cascend Securities lowered shares of CSX from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Finally, Barclays reaffirmed a “buy” rating and issued a $85.00 target price on shares of CSX in a research note on Thursday, October 3rd. Two equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $77.98.
CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services, as well as transports intermodal containers and trailers. It transports chemicals, automotive, agricultural and food products, minerals, fertilizers, forest products, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.
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