Cohen Capital Management Inc. Cuts Stake in CSX Corp. (CSX)
Cohen Capital Management Inc. lowered its position in CSX Corp. (NASDAQ:CSX) by 0.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 106,320 shares of the company’s stock after selling 350 shares during the period. Cohen Capital Management Inc.’s holdings in CSX Corp. were worth $3,243,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Washington Trust Bank boosted its stake in CSX Corp. by 7.7% in the third quarter. Washington Trust Bank now owns 3,644 shares of the company’s stock worth $111,000 after buying an additional 259 shares during the period. Brick & Kyle Associates boosted its stake in CSX Corp. by 8.1% in the second quarter. Brick & Kyle Associates now owns 4,000 shares of the company’s stock worth $104,000 after buying an additional 300 shares during the period. Community Bank N.A. boosted its stake in CSX Corp. by 19.9% in the third quarter. Community Bank N.A. now owns 4,300 shares of the company’s stock worth $132,000 after buying an additional 715 shares during the period. Advisors Asset Management Inc. acquired a new stake in CSX Corp. during the second quarter worth approximately $117,000. Finally, WFG Advisors LP boosted its stake in CSX Corp. by 17.1% in the second quarter. WFG Advisors LP now owns 6,537 shares of the company’s stock worth $170,000 after buying an additional 956 shares during the period. 68.97% of the stock is owned by hedge funds and other institutional investors.
Shares of CSX Corp. (NASDAQ:CSX) traded down 0.97% during trading on Monday, hitting $34.67. 6,822,762 shares of the stock were exchanged. The stock has a market cap of $32.47 billion, a PE ratio of 19.29 and a beta of 1.11. CSX Corp. has a one year low of $21.33 and a one year high of $35.23. The stock’s 50 day moving average price is $32.17 and its 200 day moving average price is $28.86.
CSX Corp. (NASDAQ:CSX) last issued its earnings results on Wednesday, October 12th. The company reported $0.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.03. The company earned $2.71 billion during the quarter. CSX Corp. had a return on equity of 14.79% and a net margin of 15.93%. The business’s quarterly revenue was down 7.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.52 earnings per share. Equities research analysts predict that CSX Corp. will post $1.79 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Wednesday, November 30th will be given a $0.18 dividend. The ex-dividend date is Monday, November 28th. This represents a $0.72 annualized dividend and a yield of 2.09%. CSX Corp.’s payout ratio is 40.00%.
A number of analysts have recently issued reports on the company. Bank of America Corp. reaffirmed a “buy” rating and issued a $32.00 price target on shares of CSX Corp. in a research note on Monday, September 12th. Barclays PLC reaffirmed an “overweight” rating and issued a $35.00 price target on shares of CSX Corp. in a research note on Saturday, October 15th. Vertical Research assumed coverage on CSX Corp. in a research note on Tuesday, October 11th. They issued a “hold” rating on the stock. Deutsche Bank AG assumed coverage on CSX Corp. in a research note on Wednesday, November 2nd. They issued a “buy” rating and a $36.00 price target on the stock. Finally, Vetr lowered CSX Corp. from a “buy” rating to a “hold” rating and set a $33.60 price target on the stock. in a research note on Wednesday, November 9th. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and fourteen have issued a buy rating to the company. CSX Corp. currently has an average rating of “Hold” and an average price target of $30.45.
In related news, President Clarence W. Gooden sold 17,332 shares of the firm’s stock in a transaction dated Monday, September 26th. The shares were sold at an average price of $29.44, for a total value of $510,254.08. Following the transaction, the president now owns 127,954 shares of the company’s stock, valued at approximately $3,766,965.76. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Michael J. Ward sold 300,000 shares of the firm’s stock in a transaction dated Monday, October 17th. The shares were sold at an average price of $30.97, for a total transaction of $9,291,000.00. Following the completion of the transaction, the chairman now directly owns 198,742 shares in the company, valued at approximately $6,155,039.74. The disclosure for this sale can be found here. 0.36% of the stock is currently owned by corporate insiders.
About CSX Corp.
CSX Corporation, together with its subsidiaries, is a transportation company. The Company provides rail-based transportation services, including rail service and the transport of intermodal containers and trailers. The Company serves three lines of business, such as merchandise business, coal business and intermodal business.
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