Egerton Capital UK LLP Takes Position in CSX Co. (CSX)

Egerton Capital UK LLP acquired a new stake in CSX Co. (NASDAQ:CSX) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 6,909,844 shares of the transportation company’s stock, valued at approximately $440,710,000. CSX comprises about 3.4% of Egerton Capital UK LLP’s investment portfolio, making the stock its 15th biggest position. Egerton Capital UK LLP owned approximately 0.80% of CSX as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Sumitomo Life Insurance Co. boosted its stake in CSX by 4.1% during the second quarter. Sumitomo Life Insurance Co. now owns 19,295 shares of the transportation company’s stock worth $1,231,000 after acquiring an additional 768 shares in the last quarter. CENTRAL TRUST Co boosted its stake in CSX by 4.7% during the second quarter. CENTRAL TRUST Co now owns 17,565 shares of the transportation company’s stock worth $1,120,000 after acquiring an additional 782 shares in the last quarter. Wedbush Securities Inc. boosted its stake in CSX by 5.8% during the second quarter. Wedbush Securities Inc. now owns 15,218 shares of the transportation company’s stock worth $971,000 after acquiring an additional 833 shares in the last quarter. Dowling & Yahnke LLC boosted its stake in CSX by 4.6% during the first quarter. Dowling & Yahnke LLC now owns 19,651 shares of the transportation company’s stock worth $1,095,000 after acquiring an additional 859 shares in the last quarter. Finally, Trust Co. of Vermont boosted its stake in CSX by 3.2% during the second quarter. Trust Co. of Vermont now owns 27,542 shares of the transportation company’s stock worth $1,756,000 after acquiring an additional 860 shares in the last quarter. 76.86% of the stock is currently owned by institutional investors.

CSX opened at $72.39 on Monday, according to Marketbeat.com. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.48 and a current ratio of 1.66. CSX Co. has a 1-year low of $48.11 and a 1-year high of $72.90. The firm has a market cap of $62.17 billion, a price-to-earnings ratio of 24.62, a price-to-earnings-growth ratio of 1.52 and a beta of 1.22.

CSX (NASDAQ:CSX) last released its quarterly earnings data on Tuesday, July 17th. The transportation company reported $1.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.15. CSX had a net margin of 53.27% and a return on equity of 19.31%. The firm had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3 billion. During the same quarter in the prior year, the company posted $0.64 earnings per share. The business’s revenue was up 5.8% on a year-over-year basis. equities research analysts anticipate that CSX Co. will post 3.57 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 14th. Shareholders of record on Friday, August 31st will be issued a dividend of $0.22 per share. The ex-dividend date is Thursday, August 30th. This represents a $0.88 annualized dividend and a yield of 1.22%. CSX’s payout ratio is 38.26%.

Several brokerages recently issued reports on CSX. Scotiabank set a $72.00 target price on shares of CSX and gave the stock a “hold” rating in a research note on Wednesday, July 18th. TD Securities increased their target price on shares of CSX from $68.00 to $71.00 and gave the stock a “$69.00” rating in a research note on Wednesday, July 18th. Raymond James increased their target price on shares of CSX from $70.00 to $75.00 and gave the stock a “$69.00” rating in a research note on Wednesday, July 18th. Morgan Stanley increased their target price on shares of CSX from $49.00 to $52.00 and gave the stock a “sell” rating in a research note on Wednesday, July 18th. Finally, BidaskClub lowered shares of CSX from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 15th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $69.45.

CSX Company Profile

CSX Corporation, together with its subsidiaries, provides rail-based transportation services in the United States and Canada. The company offers rail services, as well as transports intermodal containers and trailers. It transports agricultural and food products, fertilizers, chemicals, automotive, metals and equipment, minerals, and forest products; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.

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Institutional Ownership by Quarter for CSX (NASDAQ:CSX)

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