United Services Automobile Association boosted its stake in CSX Corporation (NASDAQ:CSX) by 20.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 573,690 shares of the transportation company’s stock after buying an additional 99,118 shares during the period. United Services Automobile Association owned about 0.06% of CSX Corporation worth $26,705,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of the stock. MCF Advisors LLC raised 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 valued at $132,000 after buying an additional 9 shares during the last quarter. Gamble Jones Investment Counsel raised its position in CSX Corporation by 0.3% in the first quarter. Gamble Jones Investment Counsel now owns 7,578 shares of the transportation company’s stock valued at $353,000 after buying an additional 21 shares during the last quarter. Jackson Grant Investment Advisers Inc. raised its stake in CSX Corporation by 0.3% in the fourth quarter. Jackson Grant Investment Advisers Inc. now owns 9,519 shares of the transportation company’s stock worth $342,000 after buying an additional 25 shares in the last quarter. Financial Architects Inc raised its stake 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. Finally, Stock Yards Bank & Trust Co. raised its stake in CSX Corporation by 0.7% in the first quarter. Stock Yards Bank & Trust Co. now owns 8,032 shares of the transportation company’s stock worth $374,000 after buying an additional 53 shares in the last quarter. Institutional investors own 69.32% of the company’s stock.
Shares of CSX Corporation (NASDAQ:CSX) traded up 0.97% on Wednesday, hitting $52.06. The company’s stock had a trading volume of 9,478,641 shares. The stock has a market capitalization of $47.55 billion, a P/E ratio of 27.23 and a beta of 1.32. CSX Corporation has a 52 week low of $27.46 and a 52 week high of $55.48. The stock’s 50 day moving average price is $53.45 and its 200 day moving average price is $49.54.
CSX Corporation (NASDAQ:CSX) last posted its quarterly earnings data on Tuesday, July 18th. The transportation company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.59 by $0.05. The business had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $2.85 billion. CSX Corporation had a net margin of 15.46% and a return on equity of 16.93%. The firm’s revenue was up 8.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.47 EPS. On average, analysts forecast that CSX Corporation will post $2.30 earnings per share for the current fiscal year.
CSX Corporation declared that its board has authorized a stock repurchase program on Thursday, April 20th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the transportation company to purchase up to 2.2% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $0.80 annualized dividend and a yield of 1.54%. CSX Corporation’s dividend payout ratio (DPR) is presently 41.88%.
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A number of research firms have issued reports on CSX. Avondale Partners raised CSX Corporation from a “market perform” rating to a “market outperform” rating in a research report on Tuesday, March 28th. Loop Capital reiterated a “hold” rating and issued a $54.00 price objective (up previously from $52.00) on shares of CSX Corporation in a report on Saturday. BidaskClub upgraded CSX Corporation from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 6th. Bank of America Corporation restated a “buy” rating and set a $65.00 price target (up previously from $56.00) on shares of CSX Corporation in a research note on Tuesday, June 6th. Finally, Zacks Investment Research downgraded CSX Corporation from a “buy” rating to a “hold” rating in a research note on Friday, July 21st. Twelve analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $53.74.
In other CSX Corporation news, Director Ridge Lp Mantle purchased 1,357,000 shares of the business’s stock in a transaction on Friday, July 21st. The shares were purchased at an average cost of $51.59 per share, with a total value of $70,007,630.00. Following the transaction, the director now directly owns 106 shares of the company’s stock, valued at approximately $5,468.54. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 4.79% of the company’s stock.
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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