Sound Shore Management Inc. CT Lowers Holdings in CSX Corporation $CSX

Sound Shore Management Inc. CT decreased its holdings in CSX Corporation (NASDAQ:CSX) by 0.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,401,874 shares of the transportation company’s stock after selling 14,793 shares during the quarter. CSX accounts for about 2.8% of Sound Shore Management Inc. CT’s holdings, making the stock its 16th biggest holding. Sound Shore Management Inc. CT owned about 0.13% of CSX worth $87,068,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Root Financial Partners LLC boosted its stake in shares of CSX by 7.3% in the fourth quarter. Root Financial Partners LLC now owns 4,757 shares of the transportation company’s stock valued at $172,000 after purchasing an additional 323 shares during the period. New Mexico Educational Retirement Board boosted its stake in shares of CSX by 1.3% in the fourth quarter. New Mexico Educational Retirement Board now owns 85,918 shares of the transportation company’s stock valued at $3,115,000 after purchasing an additional 1,100 shares during the period. Knights of Columbus Asset Advisors LLC boosted its stake in shares of CSX by 2.4% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 189,288 shares of the transportation company’s stock valued at $6,862,000 after purchasing an additional 4,476 shares during the period. Cary Street Partners Investment Advisory LLC boosted its stake in shares of CSX by 26.1% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 4,206 shares of the transportation company’s stock valued at $152,000 after purchasing an additional 871 shares during the period. Finally, Allstate Corp boosted its stake in shares of CSX by 105.7% in the fourth quarter. Allstate Corp now owns 136,869 shares of the transportation company’s stock valued at $4,962,000 after purchasing an additional 70,326 shares during the period. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Stock Up 0.7%

Shares of NASDAQ:CSX opened at $46.44 on Thursday. The firm’s 50 day moving average price is $43.83 and its 200 day moving average price is $39.97. The stock has a market cap of $86.29 billion, a price-to-earnings ratio of 28.49, a price-to-earnings-growth ratio of 2.40 and a beta of 1.22. CSX Corporation has a fifty-two week low of $31.64 and a fifty-two week high of $47.17. The company has a quick ratio of 0.83, a current ratio of 0.97 and a debt-to-equity ratio of 1.34.

CSX (NASDAQ:CSX) last released its quarterly earnings data on Wednesday, April 22nd. The transportation company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.04. CSX had a net margin of 21.55% and a return on equity of 24.47%. The company had revenue of $3.48 billion for the quarter, compared to analysts’ expectations of $3.50 billion. During the same quarter last year, the company earned $0.34 earnings per share. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. As a group, equities research analysts predict that CSX Corporation will post 1.9 earnings per share for the current fiscal year.

CSX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 29th will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $0.56 dividend on an annualized basis and a yield of 1.2%. CSX’s dividend payout ratio (DPR) is presently 34.36%.

Insiders Place Their Bets

In related news, CEO Stephen F. Angel acquired 25,000 shares of the business’s stock in a transaction on Friday, March 6th. The shares were bought at an average price of $40.27 per share, with a total value of $1,006,750.00. Following the completion of the acquisition, the chief executive officer owned 146,540 shares in the company, valued at $5,901,165.80. This trade represents a 20.57% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

CSX has been the subject of several recent research reports. Wolfe Research reissued an “outperform” rating and issued a $50.00 price objective on shares of CSX in a research note on Thursday, April 23rd. Vertical Research cut shares of CSX from a “buy” rating to a “hold” rating and set a $44.00 target price on the stock. in a report on Thursday, April 23rd. Royal Bank Of Canada raised their target price on shares of CSX from $43.00 to $47.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. Argus raised their target price on shares of CSX from $42.00 to $52.00 and gave the company a “buy” rating in a report on Friday, May 22nd. Finally, Benchmark raised their target price on shares of CSX from $46.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Sixteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, CSX currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.98.

About CSX

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.