Argent Trust Co decreased its holdings in shares of CSX Co. (NASDAQ:CSX) by 26.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,498 shares of the transportation company’s stock after selling 8,646 shares during the period. Argent Trust Co’s holdings in CSX were worth $1,404,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also made changes to their positions in the company. Wealth Quarterback LLC purchased a new position in shares of CSX during the 4th quarter valued at approximately $12,640,810,000. Capital World Investors raised its stake in CSX by 6.5% in the 4th quarter. Capital World Investors now owns 56,795,417 shares of the transportation company’s stock valued at $4,109,716,000 after purchasing an additional 3,447,915 shares during the last quarter. Capital Research Global Investors raised its stake in CSX by 3.3% in the 4th quarter. Capital Research Global Investors now owns 54,198,951 shares of the transportation company’s stock valued at $3,921,836,000 after purchasing an additional 1,724,829 shares during the last quarter. State Street Corp raised its stake in CSX by 5.6% in the 4th quarter. State Street Corp now owns 33,946,217 shares of the transportation company’s stock valued at $2,456,348,000 after purchasing an additional 1,795,879 shares during the last quarter. Finally, EdgePoint Investment Group Inc. raised its stake in CSX by 3.6% in the 1st quarter. EdgePoint Investment Group Inc. now owns 12,605,691 shares of the transportation company’s stock valued at $722,306,000 after purchasing an additional 443,169 shares during the last quarter. Hedge funds and other institutional investors own 73.08% of the company’s stock.
Several research analysts recently commented on CSX shares. Wells Fargo & Co increased their price objective on CSX from $66.00 to $74.00 and gave the company an “equal weight” rating in a research note on Friday. Goldman Sachs Group raised CSX from a “neutral” rating to a “buy” rating in a research note on Sunday, April 19th. Royal Bank of Canada reaffirmed a “neutral” rating on shares of CSX in a research note on Wednesday, March 18th. Wolfe Research raised CSX from a “market perform” rating to an “outperform” rating and set a $70.00 target price for the company in a research note on Friday, March 27th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $71.00 target price on shares of CSX in a research note on Monday, April 6th. Fourteen equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $72.43.
In other news, Director Paul C. Hilal sold 700,000 shares of CSX stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $68.31, for a total value of $47,817,000.00. Following the completion of the transaction, the director now owns 10,489 shares in the company, valued at approximately $716,503.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.58% of the company’s stock.
Shares of CSX traded up $0.73 during midday trading on Friday, hitting $68.53. The company had a trading volume of 2,721,667 shares, compared to its average volume of 4,665,264. The company’s 50-day simple moving average is $63.07 and its 200-day simple moving average is $69.10. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.61 and a current ratio of 1.73. The firm has a market capitalization of $51.90 billion, a P/E ratio of 16.51, a P/E/G ratio of 2.41 and a beta of 1.23. CSX Co. has a 1 year low of $46.81 and a 1 year high of $80.62.
CSX (NASDAQ:CSX) last announced its quarterly earnings data on Wednesday, April 22nd. The transportation company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.06. The business had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.88 billion. CSX had a return on equity of 27.27% and a net margin of 27.74%. The business’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.02 EPS. Equities analysts predict that CSX Co. will post 3.62 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 29th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 1.52%. The ex-dividend date of this dividend is Thursday, May 28th. CSX’s payout ratio is presently 24.94%.
CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services, as well as transports intermodal containers and trailers. It transports chemicals, automotive, agricultural and food products, minerals, fertilizers, forest products, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.
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