Hsbc Holdings PLC Sells 620,153 Shares of CSX Corporation $CSX

Hsbc Holdings PLC trimmed its holdings in CSX Corporation (NASDAQ:CSX) by 13.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,937,983 shares of the transportation company’s stock after selling 620,153 shares during the period. Hsbc Holdings PLC’s holdings in CSX were worth $187,202,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. Lombard Odier Asset Management Europe Ltd acquired a new stake in shares of CSX during the second quarter worth about $19,284,000. Archer Investment Corp bought a new position in shares of CSX during the 2nd quarter valued at about $26,000. Kingsview Wealth Management LLC acquired a new position in shares of CSX in the 2nd quarter valued at approximately $4,195,000. Beacon Pointe Advisors LLC acquired a new position in shares of CSX in the 2nd quarter valued at approximately $7,019,000. Finally, Kimelman & Baird LLC bought a new stake in CSX during the 2nd quarter worth approximately $143,000. 73.57% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on CSX shares. Benchmark reaffirmed a “buy” rating and issued a $54.00 price target (up from $48.00) on shares of CSX in a research note on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $59.00 price objective on shares of CSX in a research report on Friday, July 24th. BMO Capital Markets restated a “market perform” rating and set a $52.00 price objective (up from $49.00) on shares of CSX in a report on Thursday, July 23rd. Evercore set a $51.00 price objective on shares of CSX in a research report on Thursday, July 23rd. Finally, Robert W. Baird upped their target price on shares of CSX from $49.00 to $53.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 7th. Eighteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.31.

Insider Buying and Selling at CSX

In related news, SVP Michael S. Burns sold 13,000 shares of CSX stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $52.68, for a total value of $684,840.00. Following the sale, the senior vice president owned 59,643 shares of the company’s stock, valued at approximately $3,141,993.24. The trade was a 17.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Angela C. Williams sold 30,000 shares of the company’s stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $53.29, for a total value of $1,598,700.00. Following the sale, the chief accounting officer owned 10,437 shares in the company, valued at $556,187.73. The trade was a 74.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.30% of the stock is currently owned by insiders.

CSX Stock Performance

NASDAQ:CSX opened at $49.41 on Monday. The company has a market cap of $91.53 billion, a P/E ratio of 28.56, a price-to-earnings-growth ratio of 2.32 and a beta of 1.21. CSX Corporation has a twelve month low of $31.80 and a twelve month high of $53.60. The business has a 50 day moving average price of $50.16 and a two-hundred day moving average price of $45.89. The company has a quick ratio of 0.72, a current ratio of 0.82 and a debt-to-equity ratio of 1.22.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. The company had revenue of $3.94 billion for the quarter, compared to the consensus estimate of $3.89 billion. CSX had a net margin of 22.21% and a return on equity of 24.98%. The firm’s revenue was up 10.1% compared to the same quarter last year. During the same period last year, the company earned $0.44 earnings per share. As a group, analysts expect that CSX Corporation will post 2 EPS for the current fiscal year.

CSX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be given a $0.14 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $0.56 dividend on an annualized basis and a yield of 1.1%. CSX’s dividend payout ratio (DPR) is 32.37%.

CSX Company 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.