CSX Corporation (CSX) Shares Bought by Palladium Partners LLC
Palladium Partners LLC increased its position in shares of CSX Corporation (NASDAQ:CSX) by 11.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,917 shares of the transportation company’s stock after buying an additional 2,050 shares during the period. Palladium Partners LLC’s holdings in CSX Corporation were worth $927,000 as of its most recent filing with the SEC.
Several other large investors also recently modified their holdings of the stock. Financial Architects Inc increased its position in CSX Corporation by 1.9% in the first quarter. Financial Architects Inc now owns 2,650 shares of the transportation company’s stock worth $124,000 after buying an additional 50 shares in the last quarter. MCF Advisors LLC increased its position in CSX Corporation by 0.3% in the first quarter. MCF Advisors LLC now owns 2,832 shares of the transportation company’s stock worth $132,000 after buying an additional 9 shares in the last quarter. Hefty Wealth Partners acquired a new position in CSX Corporation during the first quarter worth $146,000. Pinnacle Bank acquired a new position in CSX Corporation during the first quarter worth $156,000. Finally, Peoples Financial Services CORP. increased its position in CSX Corporation by 72.3% in the first quarter. Peoples Financial Services CORP. now owns 3,575 shares of the transportation company’s stock worth $166,000 after buying an additional 1,500 shares in the last quarter. 69.36% of the stock is owned by institutional investors.
Shares of CSX Corporation (NASDAQ:CSX) opened at 52.74 on Friday. The firm has a market capitalization of $48.66 billion, a price-to-earnings ratio of 28.79 and a beta of 1.33. CSX Corporation has a 12 month low of $24.43 and a 12 month high of $55.06. The stock’s 50 day moving average is $52.51 and its 200 day moving average is $46.23.
CSX Corporation (NASDAQ:CSX) last released its quarterly earnings results on Wednesday, April 19th. The transportation company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.08. CSX Corporation had a net margin of 15.19% and a return on equity of 15.67%. The business had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.76 billion. During the same period last year, the firm earned $0.37 earnings per share. CSX Corporation’s revenue for the quarter was up 9.6% compared to the same quarter last year. Equities research analysts forecast that CSX Corporation will post $2.29 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Wednesday, May 31st were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.52%. This is a positive change from CSX Corporation’s previous quarterly dividend of $0.18. The ex-dividend date was Friday, May 26th. CSX Corporation’s dividend payout ratio (DPR) is currently 43.72%.
A number of research analysts have recently weighed in on CSX shares. Zacks Investment Research downgraded shares of CSX Corporation from a “buy” rating to a “hold” rating in a report on Monday, February 20th. Deutsche Bank AG upgraded shares of CSX Corporation from a “hold” rating to a “buy” rating and raised their price target for the company from $42.00 to $56.00 in a report on Tuesday, February 28th. Credit Suisse Group restated an “outperform” rating and set a $54.00 price target (up previously from $41.00) on shares of CSX Corporation in a report on Monday, March 6th. Citigroup Inc. raised their price target on shares of CSX Corporation from $51.00 to $58.00 and gave the company a “buy” rating in a report on Tuesday, March 7th. Finally, Cowen and Company restated a “market perform” rating and set a $36.00 price target on shares of CSX Corporation in a report on Tuesday, March 7th. Eleven equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. CSX Corporation has a consensus rating of “Buy” and a consensus price target of $52.06.
In other CSX Corporation news, CEO E Hunter Harrison purchased 300,000 shares of the stock in a transaction that occurred on Monday, April 24th. The shares were acquired at an average cost of $50.20 per share, with a total value of $15,060,000.00. Following the completion of the transaction, the chief executive officer now owns 300,000 shares in the company, valued at $15,060,000. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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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