Teachers Retirement System of The State of Kentucky reduced its position in shares of CSX Corporation (NASDAQ:CSX) by 9.7% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 105,900 shares of the transportation company’s stock after selling 11,400 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in CSX Corporation were worth $4,930,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of CSX Corporation by 0.5% in the first quarter. Vanguard Group Inc. now owns 67,607,341 shares of the transportation company’s stock worth $3,147,122,000 after buying an additional 303,834 shares during the last quarter. Janus Capital Management LLC boosted its position in shares of CSX Corporation by 32.9% in the first quarter. Janus Capital Management LLC now owns 16,620,538 shares of the transportation company’s stock worth $773,686,000 after buying an additional 4,114,395 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of CSX Corporation by 22.3% in the first quarter. Bank of New York Mellon Corp now owns 10,380,043 shares of the transportation company’s stock worth $483,191,000 after buying an additional 1,896,101 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of CSX Corporation by 7.6% in the first quarter. Geode Capital Management LLC now owns 9,175,880 shares of the transportation company’s stock worth $426,540,000 after buying an additional 648,154 shares during the last quarter. Finally, Brahman Capital Corp. purchased a new position in shares of CSX Corporation during the first quarter worth $257,229,000. Hedge funds and other institutional investors own 70.32% of the company’s stock.
Shares of CSX Corporation (NASDAQ:CSX) traded down 0.20% during mid-day trading on Friday, reaching $48.78. The company had a trading volume of 6,910,756 shares. The company’s 50-day moving average price is $51.73 and its 200-day moving average price is $50.30. CSX Corporation has a 52-week low of $27.89 and a 52-week high of $55.48. The company has a market capitalization of $44.55 billion, a PE ratio of 25.51 and a beta of 1.30.
CSX Corporation (NASDAQ:CSX) last released its earnings results on Tuesday, July 18th. The transportation company reported $0.64 earnings per share 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 during the quarter, compared to analysts’ expectations of $2.85 billion. During the same quarter last year, the company earned $0.47 earnings per share. The firm’s revenue was up 8.5% on a year-over-year basis. On average, analysts forecast that CSX Corporation will post $2.30 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.64%. The ex-dividend date is Tuesday, August 29th. CSX Corporation’s payout ratio is presently 41.88%.
CSX Corporation declared that its Board of Directors has approved a share repurchase program on Tuesday, July 18th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the transportation company to buy up to 1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
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A number of research analysts recently weighed in on CSX shares. TD Securities reduced their target price on CSX Corporation from $64.00 to $63.00 and set a “buy” rating on the stock in a report on Thursday, July 20th. BidaskClub cut CSX Corporation from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Royal Bank Of Canada reiterated a “buy” rating and issued a $65.00 target price on shares of CSX Corporation in a report on Friday, June 9th. Cowen and Company reiterated a “market perform” rating and issued a $54.00 target price (up previously from $48.00) on shares of CSX Corporation in a report on Sunday, April 23rd. Finally, Aegis upgraded CSX Corporation from a “hold” rating to a “buy” rating and lifted their target price for the company from $50.00 to $64.00 in a report on Friday, April 21st. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nineteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $53.71.
In related news, Director Ridge Lp Mantle bought 1,357,000 shares of CSX Corporation stock in a transaction that occurred on Friday, July 21st. The stock was acquired at an average price of $51.59 per share, for a total transaction of $70,007,630.00. Following the completion of the purchase, the director now owns 106 shares in the company, valued at $5,468.54. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.79% of the stock is currently owned by company insiders.
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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