First United Bank Trust cut its holdings in shares of CSX Corporation (NASDAQ:CSX) by 16.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 34,611 shares of the transportation company’s stock after selling 6,670 shares during the period. CSX Corporation makes up about 1.3% of First United Bank Trust’s portfolio, making the stock its 28th largest holding. First United Bank Trust’s holdings in CSX Corporation were worth $1,878,000 at the end of the most recent quarter.
Several other large investors have also bought and sold shares of CSX. Brahman Capital Corp. acquired a new stake in shares of CSX Corporation during the 1st quarter valued at about $257,229,000. Blue Ridge Capital L.L.C. acquired a new stake in shares of CSX Corporation during the 1st quarter valued at about $225,162,000. Janus Capital Management LLC grew its position in shares of CSX Corporation by 32.9% during the 1st quarter. Janus Capital Management LLC now owns 16,620,538 shares of the transportation company’s stock valued at $773,686,000 after acquiring an additional 4,114,395 shares during the period. Thrivent Financial For Lutherans grew its position in shares of CSX Corporation by 252.3% during the 1st quarter. Thrivent Financial For Lutherans now owns 4,769,577 shares of the transportation company’s stock valued at $222,004,000 after acquiring an additional 3,415,705 shares during the period. Finally, OZ Management LP grew its position in shares of CSX Corporation by 266.3% during the 1st quarter. OZ Management LP now owns 4,094,353 shares of the transportation company’s stock valued at $190,592,000 after acquiring an additional 2,976,497 shares during the period. Hedge funds and other institutional investors own 69.78% of the company’s stock.
A number of equities research analysts have recently commented on the company. Zacks Investment Research cut CSX Corporation from a “buy” rating to a “hold” rating in a research report on Friday, July 21st. J P Morgan Chase & Co dropped their target price on CSX Corporation from $60.00 to $58.00 and set an “overweight” rating on the stock in a research report on Thursday, July 20th. BidaskClub cut CSX Corporation from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 19th. TD Securities dropped their target price on CSX Corporation from $64.00 to $63.00 and set a “buy” rating on the stock in a research report on Thursday, July 20th. Finally, UBS AG restated a “buy” rating and set a $63.00 target price on shares of CSX Corporation in a research report on Saturday, July 22nd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $55.77.
CSX Corporation (NASDAQ:CSX) traded up 0.24% during mid-day trading on Monday, reaching $54.65. 1,205,011 shares of the company traded hands. The stock has a 50-day moving average of $52.54 and a 200 day moving average of $51.65. CSX Corporation has a 52-week low of $30.01 and a 52-week high of $55.48. The stock has a market capitalization of $49.51 billion, a PE ratio of 28.17 and a beta of 1.35.
CSX Corporation (NASDAQ:CSX) last released its quarterly earnings data on Tuesday, October 17th. The transportation company reported $0.51 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.51. CSX Corporation had a net margin of 15.45% and a return on equity of 17.28%. The company had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.77 billion. During the same quarter in the prior year, the business earned $0.48 earnings per share. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. Equities research analysts expect that CSX Corporation will post $2.22 earnings per share for the current year.
CSX Corporation announced that its board has initiated a stock repurchase program on Tuesday, July 18th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the transportation company to reacquire up to 1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.47%. CSX Corporation’s payout ratio is currently 41.24%.
CSX Corporation Company Profile
CSX Corporation is a transportation company. The Company provides rail-based freight transportation services, including traditional rail service and transport of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations.
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