Maj Invest Holding A S Sells 1,218,955 Shares of CSX Corporation $CSX

Maj Invest Holding A S trimmed its position in CSX Corporation (NASDAQ:CSX) by 48.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,307,770 shares of the transportation company’s stock after selling 1,218,955 shares during the period. CSX comprises approximately 2.7% of Maj Invest Holding A S’s holdings, making the stock its 17th largest holding. Maj Invest Holding A S’s holdings in CSX were worth $60,824,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. BLB&B Advisors LLC increased its holdings in CSX by 0.7% in the third quarter. BLB&B Advisors LLC now owns 30,452 shares of the transportation company’s stock worth $1,416,000 after buying an additional 215 shares during the last quarter. William Mack & Associates Inc. acquired a new stake in CSX in the third quarter valued at approximately $131,000. Victory Financial Group LLC acquired a new stake in CSX in the third quarter valued at approximately $297,000. Generali Asset Management SPA SGR lifted its stake in CSX by 7.6% in the third quarter. Generali Asset Management SPA SGR now owns 211,994 shares of the transportation company’s stock valued at $9,860,000 after acquiring an additional 14,978 shares during the last quarter. Finally, Asset Management One Co. Ltd. grew its position in CSX by 13.3% in the third quarter. Asset Management One Co. Ltd. now owns 938,563 shares of the transportation company’s stock worth $43,653,000 after acquiring an additional 110,047 shares in the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.

Key CSX News

Here are the key news stories impacting CSX this week:

• Positive Sentiment: CSX’s latest quarterly results exceeded expectations, with earnings per share of $0.57 versus the $0.53 consensus estimate and revenue of $4.02 billion versus expectations of $3.96 billion. Revenue increased 12% year over year, supporting the recent positive investment case. Does CSX Stock’s Q3 Earnings Beat Justify a Buy Decision Today?
• Positive Sentiment: Susquehanna raised its CSX price target from $55 to $60 and maintained a positive rating, implying additional upside from recently quoted levels. Susquehanna raises target for CSX Corp stock to USD 60.00
• Positive Sentiment: Analyst commentary is also evaluating whether CSX has outperformed transportation peers this year, which may reinforce investor interest in the shares. Is CSX Stock Outpacing Its Transportation Peers This Year?

Insiders Place Their Bets

In other CSX news, Director John Zillmer sold 19,500 shares of the business’s stock in a transaction on Monday, October 26th. The shares were sold at an average price of $51.24, for a total transaction of $999,180.00. Following the completion of the transaction, the director owned 334,214 shares of the company’s stock, valued at $17,125,125.36. The trade was a 5.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

CSX has been the topic of several analyst reports. Royal Bank Of Canada restated an “outperform” rating and set a $54.00 price target (up from $53.00) on shares of CSX in a research note on Thursday, October 22nd. Citigroup restated a “neutral” rating and set a $54.00 price target (up from $53.00) on shares of CSX in a report on Friday, October 23rd. Bank of America lifted their price objective on shares of CSX from $55.00 to $57.00 and gave the company a “buy” rating in a research note on Thursday, October 22nd. Truist Financial set a $46.00 price objective on shares of CSX in a report on Friday, July 10th. Finally, BMO Capital Markets reissued a “market perform” rating and set a $52.00 target price (up from $49.00) on shares of CSX in a research report on Thursday, July 23rd. Eighteen research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $52.20.

CSX Trading Down 0.6%

NASDAQ:CSX opened at $51.98 on Thursday. CSX Corporation has a 12 month low of $33.63 and a 12 month high of $53.60. The firm has a market cap of $95.82 billion, a price-to-earnings ratio of 26.93, a P/E/G ratio of 2.27 and a beta of 1.21. The company has a quick ratio of 0.75, a current ratio of 0.84 and a debt-to-equity ratio of 1.19. The company’s 50 day moving average is $48.81 and its 200-day moving average is $45.34.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Wednesday, October 21st. The transportation company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.04. CSX had a net margin of 23.97% and a return on equity of 25.94%. The business had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.96 billion. During the same period in the prior year, the firm earned $0.44 EPS. CSX’s quarterly revenue was up 12.0% compared to the same quarter last year. Equities analysts anticipate that CSX Corporation will post 2.04 EPS for the current year.

CSX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 30th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.1%. The ex-dividend date is Monday, November 30th. CSX’s dividend payout ratio (DPR) is 29.02%.

About CSX

CSX Corporation is a transportation company whose primary business is freight railroading through its CSX Transportation subsidiary. The company operates an extensive rail network across the eastern United States, serving major industrial centers, population hubs, ports and distribution markets.

CSX transports a broad range of products, including chemicals, agricultural and food products, forest products, minerals, metals, automotive goods and other manufactured merchandise. Its services also include intermodal transportation, which combines rail service with trucks and containers, as well as the movement of coal and other bulk commodities.

The company traces its roots to the formation of CSX Corporation in 1980 through the merger of Chessie System and Seaboard Coast Line Industries.