CSX Corporation $CSX Stock: Glenview Trust Co Lowers Position

Glenview Trust Co lessened its stake in CSX Corporation (NASDAQ:CSX) by 13.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 186,182 shares of the transportation company’s stock after selling 28,721 shares during the quarter. Glenview Trust Co’s holdings in CSX were worth $8,659,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of CSX. Evolve Private Wealth LLC purchased a new position in CSX in the 2nd quarter valued at $693,000. M. Kulyk & Associates LLC acquired a new position in CSX in the second quarter valued at about $8,145,000. Wealthfront Advisers LLC purchased a new position in shares of CSX during the 2nd quarter worth approximately $7,609,000. B. Metzler seel. Sohn & Co. AG purchased a new stake in shares of CSX in the 2nd quarter valued at $6,598,000. Finally, First National Bank of Omaha purchased a new position in shares of CSX in the second quarter valued at approximately $6,248,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

Insider Buying and Selling

In other CSX news, Director John Zillmer sold 19,500 shares of CSX stock in a transaction that occurred on Monday, October 26th. The stock was sold at an average price of $51.24, for a total transaction of $999,180.00. Following the sale, the director directly owned 334,214 shares of the company’s stock, valued at approximately $17,125,125.36. The trade was a 5.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. UBS Group set a $54.00 target price on CSX in a research report on Thursday, October 22nd. Robert W. Baird increased their target price on shares of CSX from $49.00 to $53.00 and gave the company an “outperform” rating in a research note on Tuesday, July 7th. Barclays reissued an “overweight” rating and issued a $60.00 target price (up from $55.00) on shares of CSX in a research note on Thursday, July 23rd. Benchmark reissued a “buy” rating and issued a $54.00 target price (up from $48.00) on shares of CSX in a report on Wednesday, July 15th. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $52.00 price objective (up from $49.00) on shares of CSX in a research note on Thursday, July 23rd. Eighteen equities 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.20.

CSX Trading Down 0.5%

NASDAQ CSX opened at $51.99 on Friday. CSX Corporation has a 12 month low of $33.63 and a 12 month high of $53.60. The company has a current ratio of 0.84, a quick ratio of 0.75 and a debt-to-equity ratio of 1.19. The business has a fifty day simple moving average of $48.86 and a 200 day simple moving average of $45.51. The firm has a market capitalization of $95.84 billion, a P/E ratio of 26.94, a PEG ratio of 2.30 and a beta of 1.21.

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 analysts’ consensus estimates 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 quarter last year, the company posted $0.44 earnings per share. The firm’s quarterly revenue was up 12.0% compared to the same quarter last year. On average, analysts predict that CSX Corporation will post 2.04 EPS for the current fiscal year.

CSX Dividend Announcement

The firm 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 dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Monday, November 30th. CSX’s dividend payout ratio is currently 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.