CSX Corporation $CSX Stake Boosted by City Holding Co.

City Holding Co. lifted its stake in CSX Corporation (NASDAQ:CSX) by 91.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 47,821 shares of the transportation company’s stock after acquiring an additional 22,883 shares during the quarter. City Holding Co.’s holdings in CSX were worth $1,698,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in CSX by 19.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 15,312,107 shares of the transportation company’s stock worth $450,635,000 after purchasing an additional 2,454,895 shares during the last quarter. Focus Partners Wealth lifted its holdings in shares of CSX by 6.7% during the 1st quarter. Focus Partners Wealth now owns 1,447,099 shares of the transportation company’s stock valued at $42,588,000 after buying an additional 90,313 shares during the last quarter. Woodline Partners LP grew its stake in shares of CSX by 127.7% in the 1st quarter. Woodline Partners LP now owns 1,151,161 shares of the transportation company’s stock valued at $33,879,000 after buying an additional 645,693 shares in the last quarter. Strs Ohio acquired a new position in CSX in the first quarter worth approximately $29,614,000. Finally, Glenview Trust co raised its position in CSX by 1.1% during the first quarter. Glenview Trust co now owns 845,263 shares of the transportation company’s stock valued at $24,876,000 after acquiring an additional 9,397 shares in the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

Insider Activity

In other news, EVP Kevin S. Boone sold 31,053 shares of the firm’s stock in a transaction on Wednesday, October 22nd. The shares were sold at an average price of $36.09, for a total value of $1,120,702.77. Following the sale, the executive vice president owned 197,521 shares in the company, valued at approximately $7,128,532.89. This trade represents a 13.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Michael S. Burns sold 24,249 shares of the company’s stock in a transaction on Monday, October 20th. The shares were sold at an average price of $36.76, for a total transaction of $891,393.24. Following the transaction, the senior vice president owned 51,640 shares of the company’s stock, valued at approximately $1,898,286.40. The trade was a 31.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.35% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on CSX. Royal Bank Of Canada reissued an “outperform” rating and issued a $40.00 target price on shares of CSX in a research report on Thursday, December 18th. Jefferies Financial Group set a $42.00 price objective on shares of CSX and gave the company a “buy” rating in a research note on Friday, October 17th. Bank of America decreased their price objective on shares of CSX from $42.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, September 24th. Deutsche Bank Aktiengesellschaft increased their target price on shares of CSX from $40.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. Finally, Sanford C. Bernstein boosted their price target on CSX from $36.00 to $37.00 and gave the stock a “market perform” rating in a research report on Tuesday, September 30th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $38.88.

CSX Stock Up 0.1%

CSX stock opened at $36.27 on Monday. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.85 and a quick ratio of 0.71. CSX Corporation has a fifty-two week low of $26.22 and a fifty-two week high of $37.54. The firm has a fifty day moving average price of $35.77 and a two-hundred day moving average price of $34.83. The firm has a market cap of $67.54 billion, a price-to-earnings ratio of 23.71, a P/E/G ratio of 2.82 and a beta of 1.30.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Thursday, October 16th. The transportation company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.02. CSX had a return on equity of 24.95% and a net margin of 20.55%.The business had revenue of $3.59 billion for the quarter, compared to analyst estimates of $3.60 billion. During the same period in the previous year, the company posted $0.45 earnings per share. The firm’s revenue for the quarter was down .9% on a year-over-year basis. As a group, analysts forecast that CSX Corporation will post 1.83 earnings per share for the current year.

CSX Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Friday, November 28th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Friday, November 28th. CSX’s dividend payout ratio is currently 33.99%.

CSX Profile

CSX Corporation is a leading North American transportation company that provides rail-based freight services and supply-chain solutions. Its operating subsidiary, CSX Transportation, moves a wide range of goods for customers across multiple industries, using a combination of long-haul rail service, intermodal operations and terminal and yard services. The company focuses on delivering efficient, reliable freight transportation between major production centers, consumption markets and port gateways.

CSX’s freight portfolio includes intermodal containers and trailers, bulk commodities, industrial products and specialized unit trains.