Toronto Dominion Bank trimmed its position in shares of CSX Co. (NASDAQ:CSX) by 98.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,716 shares of the transportation company’s stock after selling 489,767 shares during the quarter. Toronto Dominion Bank’s holdings in CSX were worth $31,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently modified their holdings of the company. TCF National Bank grew its stake in CSX by 9.0% during the second quarter. TCF National Bank now owns 25,304 shares of the transportation company’s stock worth $1,957,000 after buying an additional 2,084 shares during the last quarter. 1832 Asset Management L.P. grew its stake in CSX by 11,000.0% during the first quarter. 1832 Asset Management L.P. now owns 111,000 shares of the transportation company’s stock worth $6,484,000 after buying an additional 110,000 shares during the last quarter. NewSquare Capital LLC bought a new stake in shares of CSX during the first quarter valued at approximately $57,000. The Manufacturers Life Insurance Company grew its stake in shares of CSX by 20.8% during the first quarter. The Manufacturers Life Insurance Company now owns 805,354 shares of the transportation company’s stock valued at $46,147,000 after purchasing an additional 138,440 shares during the last quarter. Finally, First Command Bank grew its stake in shares of CSX by 100.0% during the second quarter. First Command Bank now owns 5,482 shares of the transportation company’s stock valued at $382,000 after purchasing an additional 2,741 shares during the last quarter. 72.78% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have recently commented on CSX shares. Morgan Stanley increased their price target on shares of CSX from $50.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday, July 23rd. Deutsche Bank increased their price target on shares of CSX from $71.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, June 17th. UBS Group raised shares of CSX from a “neutral” rating to a “buy” rating and increased their price target for the company from $63.00 to $80.00 in a research note on Wednesday, May 20th. Cowen reissued a “neutral” rating on shares of CSX in a research note on Thursday, April 23rd. Finally, Credit Suisse Group increased their price target on shares of CSX from $78.00 to $83.00 and gave the company an “outperform” rating in a research note on Thursday, July 23rd. They noted that the move was a valuation call. Eleven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. CSX currently has a consensus rating of “Buy” and an average price target of $73.45.
Shares of NASDAQ:CSX traded down $0.12 during midday trading on Thursday, reaching $73.93. 109,733 shares of the company were exchanged, compared to its average volume of 3,396,457. CSX Co. has a fifty-two week low of $46.81 and a fifty-two week high of $80.62. The company has a quick ratio of 1.51, a current ratio of 1.62 and a debt-to-equity ratio of 1.33. The stock has a fifty day simple moving average of $71.27 and a two-hundred day simple moving average of $68.20. The firm has a market cap of $56.93 billion, a PE ratio of 19.85, a P/E/G ratio of 2.77 and a beta of 1.21.
CSX (NASDAQ:CSX) last released its earnings results on Wednesday, July 22nd. The transportation company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.01. The business had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.31 billion. CSX had a net margin of 26.39% and a return on equity of 24.24%. During the same quarter last year, the firm earned $1.08 earnings per share. As a group, analysts forecast that CSX Co. will post 3.53 earnings per share for the current year.
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 $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend is Friday, August 28th. CSX’s dividend payout ratio (DPR) is currently 24.94%.
In related news, EVP Mark Kenneth Wallace sold 20,000 shares of CSX stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $72.79, for a total transaction of $1,455,800.00. Following the completion of the sale, the executive vice president now owns 58,252 shares of the company’s stock, valued at approximately $4,240,163.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Nathan D. Goldman sold 25,000 shares of CSX stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $75.54, for a total transaction of $1,888,500.00. Following the sale, the executive vice president now directly owns 100,174 shares of the company’s stock, valued at approximately $7,567,143.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 102,336 shares of company stock valued at $7,596,716. 0.58% of the stock is owned by insiders.
CSX Company Profile
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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