LPL Financial LLC Grows Holdings in CSX Co. (NASDAQ:CSX)

LPL Financial LLC raised its position in CSX Co. (NASDAQ:CSX) by 218.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,066,460 shares of the transportation company’s stock after purchasing an additional 731,145 shares during the period. LPL Financial LLC’s holdings in CSX were worth $33,657,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in CSX. AlphaCrest Capital Management LLC lifted its holdings in shares of CSX by 359.8% during the 2nd quarter. AlphaCrest Capital Management LLC now owns 267,237 shares of the transportation company’s stock worth $8,573,000 after acquiring an additional 209,123 shares during the period. Public Sector Pension Investment Board lifted its holdings in shares of CSX by 1,629.6% during the 2nd quarter. Public Sector Pension Investment Board now owns 1,247,187 shares of the transportation company’s stock worth $40,010,000 after acquiring an additional 1,175,078 shares during the period. Duff & Phelps Investment Management Co. acquired a new stake in CSX during the 2nd quarter worth approximately $32,319,000. Connors Investor Services Inc. acquired a new stake in CSX during the 2nd quarter worth approximately $1,590,000. Finally, CWM Advisors LLC grew its position in CSX by 220.5% in the second quarter. CWM Advisors LLC now owns 165,624 shares of the transportation company’s stock valued at $5,313,000 after acquiring an additional 113,946 shares in the last quarter. Institutional investors own 71.79% of the company’s stock.

CSX stock opened at $32.58 on Thursday. CSX Co. has a 1 year low of $25.13 and a 1 year high of $34.96. The stock’s fifty day moving average is $31.99 and its two-hundred day moving average is $32.90. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.20 and a current ratio of 2.34. The stock has a market capitalization of $73.45 billion, a price-to-earnings ratio of 22.01, a PEG ratio of 1.80 and a beta of 1.14.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Tuesday, July 20th. The transportation company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.02. CSX had a net margin of 29.93% and a return on equity of 23.96%. The business had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.94 billion. During the same period in the previous year, the business earned $0.22 earnings per share. The company’s revenue was up 32.6% on a year-over-year basis. As a group, analysts predict that CSX Co. will post 1.51 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 15th. Investors of record on Tuesday, November 30th will be paid a dividend of $0.093 per share. This represents a $0.37 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date is Monday, November 29th. CSX’s dividend payout ratio is currently 30.33%.

Several analysts have issued reports on CSX shares. Citigroup raised shares of CSX from a “neutral” rating to a “buy” rating in a research report on Tuesday, June 29th. Zacks Investment Research downgraded shares of CSX from a “buy” rating to a “hold” rating and set a $32.00 price objective for the company. in a research report on Wednesday, September 29th. Evercore ISI reaffirmed a “buy” rating and issued a $34.00 price objective on shares of CSX in a research report on Friday, September 24th. Stifel Nicolaus increased their price objective on shares of CSX from $33.00 to $35.00 and gave the company a “hold” rating in a research report on Thursday, July 22nd. Finally, Wells Fargo & Company raised their price target on shares of CSX from $33.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 22nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, CSX presently has an average rating of “Buy” and an average target price of $34.70.

In other CSX news, EVP Mark Kenneth Wallace sold 161,487 shares of CSX stock in a transaction that occurred on Wednesday, September 8th. The stock was sold at an average price of $31.60, for a total value of $5,102,989.20. Following the transaction, the executive vice president now directly owns 314,766 shares of the company’s stock, valued at approximately $9,946,605.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John J. Zillmer sold 15,000 shares of CSX stock in a transaction that occurred on Tuesday, August 24th. The stock was sold at an average price of $33.54, for a total value of $503,100.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 291,487 shares of company stock worth $9,367,739. 0.60% of the stock is owned by corporate insiders.

CSX Company Profile

CSX Corp. engages in the provision of rail-based freight transportation services. Its services include rail service, the transport of intermodal containers and trailers, rail-to-truck transfers and bulk commodity operations. The company was founded in 1827 and is headquartered in Jacksonville, FL.

Further Reading: 52-week highs

Institutional Ownership by Quarter for CSX (NASDAQ:CSX)

Receive News & Ratings for CSX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CSX and related companies with MarketBeat.com's FREE daily email newsletter.