Gotham Asset Management LLC reduced its position in CSX Corporation (NASDAQ:CSX) by 3.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 135,524 shares of the transportation company’s stock after selling 5,105 shares during the period. Gotham Asset Management LLC’s holdings in CSX Corporation were worth $6,309,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in CSX. Assetmark Inc. raised its position in shares of CSX Corporation by 8.7% in the first quarter. Assetmark Inc. now owns 2,186 shares of the transportation company’s stock worth $102,000 after buying an additional 175 shares during the last quarter. LBA Wealth Management LLC increased its stake in CSX Corporation by 323.1% in the first quarter. LBA Wealth Management LLC now owns 2,619 shares of the transportation company’s stock worth $122,000 after buying an additional 2,000 shares during the period. Financial Architects Inc increased its stake in CSX Corporation by 1.9% in the first quarter. Financial Architects Inc now owns 2,650 shares of the transportation company’s stock worth $124,000 after buying an additional 50 shares during the period. MCF Advisors LLC increased its stake in CSX Corporation by 0.3% in the first quarter. MCF Advisors LLC now owns 2,832 shares of the transportation company’s stock worth $132,000 after buying an additional 9 shares during the period. Finally, Hefty Wealth Partners bought a new stake in CSX Corporation during the first quarter worth approximately $146,000. Institutional investors own 70.02% of the company’s stock.
Shares of CSX Corporation (NASDAQ:CSX) opened at 50.27 on Friday. The firm has a 50-day moving average of $52.23 and a 200 day moving average of $50.22. The stock has a market cap of $45.91 billion, a PE ratio of 26.29 and a beta of 1.30. CSX Corporation has a 52 week low of $27.82 and a 52 week high of $55.48.
CSX Corporation (NASDAQ:CSX) last announced its earnings results on Tuesday, July 18th. The transportation company reported $0.64 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.05. CSX Corporation had a net margin of 15.46% and a return on equity of 16.93%. The business had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.85 billion. During the same quarter last year, the business earned $0.47 earnings per share. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. On average, equities analysts forecast that CSX Corporation will post $2.30 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be given a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $0.80 annualized dividend and a dividend yield of 1.59%. CSX Corporation’s dividend payout ratio (DPR) is 41.88%.
CSX Corporation declared that its board has authorized a stock buyback program on Thursday, April 20th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the transportation company to repurchase up to 2.2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
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A number of research firms have commented on CSX. Loop Capital reaffirmed a “hold” rating and issued a $54.00 target price (up previously from $52.00) on shares of CSX Corporation in a research report on Saturday, July 22nd. BidaskClub raised shares of CSX Corporation from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 6th. Bank of America Corporation reaffirmed a “buy” rating and issued a $65.00 target price (up previously from $56.00) on shares of CSX Corporation in a research report on Tuesday, June 6th. Zacks Investment Research downgraded shares of CSX Corporation from a “buy” rating to a “hold” rating in a research report on Friday, July 21st. Finally, TD Securities reaffirmed a “buy” rating and issued a $64.00 target price (up previously from $57.00) on shares of CSX Corporation in a research report on Friday, April 21st. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nineteen have given a buy rating to the company. CSX Corporation presently has an average rating of “Buy” and a consensus price target of $53.74.
In related news, Director Ridge Lp Mantle bought 1,357,000 shares of the company’s stock in a transaction dated Friday, July 21st. The shares were acquired at an average price of $51.59 per share, for a total transaction of $70,007,630.00. Following the completion of the transaction, the director now directly owns 106 shares in the company, valued at $5,468.54. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.79% of the stock is owned by company insiders.
About CSX Corporation
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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