Achmea Investment Management B.V. purchased a new stake in shares of CSX Corporation (NASDAQ:CSX) during the first quarter, according to its most recent disclosure with the SEC. The fund purchased 96,713 shares of the transportation company’s stock, valued at approximately $4,502,000.
Other institutional investors have also recently made changes to their positions in the company. 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 valued at $102,000 after buying an additional 175 shares in the last quarter. LBA Wealth Management LLC raised its position in shares of CSX Corporation by 323.1% in the first quarter. LBA Wealth Management LLC now owns 2,619 shares of the transportation company’s stock valued at $122,000 after buying an additional 2,000 shares in the last quarter. Financial Architects Inc raised its position in shares of CSX Corporation by 1.9% in the first quarter. Financial Architects Inc now owns 2,650 shares of the transportation company’s stock valued at $124,000 after buying an additional 50 shares in the last quarter. MCF Advisors LLC raised its position in shares of CSX Corporation by 0.3% in the first quarter. MCF Advisors LLC now owns 2,832 shares of the transportation company’s stock valued at $132,000 after buying an additional 9 shares in the last quarter. Finally, Hefty Wealth Partners purchased a new position in shares of CSX Corporation during the first quarter valued at approximately $146,000. Hedge funds and other institutional investors own 70.32% of the company’s stock.
Shares of CSX Corporation (NASDAQ CSX) traded down 0.20% on Friday, reaching $48.78. The company’s stock had a trading volume of 6,910,756 shares. The stock has a 50-day moving average price of $51.73 and a 200-day moving average price of $50.30. The company has a market capitalization of $44.55 billion, a price-to-earnings ratio of 25.51 and a beta of 1.30. CSX Corporation has a 1-year low of $27.89 and a 1-year high of $55.48.
CSX Corporation (NASDAQ:CSX) last posted its quarterly earnings data on Tuesday, July 18th. The transportation company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.05. CSX Corporation had a return on equity of 16.93% and a net margin of 15.46%. The company had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.85 billion. During the same period last year, the firm earned $0.47 EPS. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. On average, equities research analysts forecast that CSX Corporation will post $2.30 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $0.80 dividend on an annualized basis and a yield of 1.64%. CSX Corporation’s payout ratio is 41.88%.
CSX Corporation announced that its board has approved a stock repurchase plan on Tuesday, July 18th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the transportation company to repurchase up to 1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
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Several research firms have issued reports on CSX. BidaskClub upgraded CSX Corporation from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 6th. Credit Suisse Group reiterated a “buy” rating and issued a $65.00 target price on shares of CSX Corporation in a research note on Friday, July 14th. Zacks Investment Research upgraded CSX Corporation from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a research note on Tuesday, July 11th. Royal Bank Of Canada reiterated a “buy” rating and issued a $65.00 target price on shares of CSX Corporation in a research note on Wednesday, July 12th. Finally, Bank of America Corporation reiterated a “buy” rating and issued a $65.00 target price (up previously from $56.00) on shares of CSX Corporation in a research note on Tuesday, June 6th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. CSX Corporation has a consensus rating of “Buy” and a consensus price target of $53.71.
In related news, Director Ridge Lp Mantle acquired 1,357,000 shares of the firm’s stock in a transaction on Friday, July 21st. The stock was bought at an average cost of $51.59 per share, with a total value of $70,007,630.00. Following the transaction, the director now owns 106 shares of the company’s stock, valued at $5,468.54. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 4.79% of the stock is currently 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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