CSX Corp. (CSX) Position Decreased by Jolley Asset Management LLC
Jolley Asset Management LLC reduced its stake in CSX Corp. (NASDAQ:CSX) by 16.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 119,112 shares of the company’s stock after selling 24,219 shares during the period. CSX Corp. accounts for about 2.9% of Jolley Asset Management LLC’s holdings, making the stock its 12th largest position. Jolley Asset Management LLC’s holdings in CSX Corp. were worth $3,633,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in CSX Corp. by 1.0% in the second quarter. Vanguard Group Inc. now owns 64,897,998 shares of the company’s stock worth $1,692,540,000 after buying an additional 617,969 shares in the last quarter. BlackRock Fund Advisors increased its stake in CSX Corp. by 1.5% in the second quarter. BlackRock Fund Advisors now owns 10,835,371 shares of the company’s stock worth $282,586,000 after buying an additional 156,444 shares in the last quarter. Janus Capital Management LLC increased its stake in CSX Corp. by 2,956.3% in the second quarter. Janus Capital Management LLC now owns 8,445,436 shares of the company’s stock worth $220,257,000 after buying an additional 8,169,105 shares in the last quarter. American Century Companies Inc. increased its stake in CSX Corp. by 20.9% in the second quarter. American Century Companies Inc. now owns 6,305,930 shares of the company’s stock worth $164,459,000 after buying an additional 1,091,854 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp acquired a new stake in CSX Corp. during the second quarter worth $132,518,000. Institutional investors and hedge funds own 68.97% of the company’s stock.
Shares of CSX Corp. (NASDAQ:CSX) traded up 2.90% during midday trading on Wednesday, hitting $35.81. The stock had a trading volume of 11,317,885 shares. The firm has a market cap of $33.54 billion, a P/E ratio of 19.93 and a beta of 1.11. The company’s 50 day moving average is $32.17 and its 200 day moving average is $28.86. CSX Corp. has a 52 week low of $21.33 and a 52 week high of $36.09.
CSX Corp. (NASDAQ:CSX) last issued its quarterly earnings data on Wednesday, October 12th. The company reported $0.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.03. CSX Corp. had a return on equity of 14.79% and a net margin of 15.93%. The company earned $2.71 billion during the quarter. During the same quarter last year, the business earned $0.52 earnings per share. CSX Corp.’s revenue was down 7.8% compared to the same quarter last year. On average, equities analysts predict that CSX Corp. will post $1.79 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Wednesday, November 30th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Monday, November 28th. This represents a $0.72 dividend on an annualized basis and a yield of 2.01%. CSX Corp.’s payout ratio is currently 40.00%.
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CSX has been the topic of a number of recent research reports. Atlantic Securities initiated coverage on shares of CSX Corp. in a research note on Thursday, August 11th. They set a “neutral” rating and a $31.00 price target on the stock. Loop Capital reiterated a “hold” rating and set a $31.00 price target on shares of CSX Corp. in a research note on Thursday, September 1st. Barclays PLC raised CSX Corp. from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $30.00 to $35.00 in a report on Monday, September 12th. Bank of America Corp. reissued a “buy” rating and set a $32.00 price objective on shares of CSX Corp. in a report on Monday, September 12th. Finally, Citigroup Inc. lifted their price objective on CSX Corp. from $29.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, September 13th. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and fourteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $30.45.
In other CSX Corp. news, President Clarence W. Gooden sold 16,129 shares of the firm’s stock in a transaction that occurred on Thursday, October 6th. The stock was sold at an average price of $31.00, for a total value of $499,999.00. Following the completion of the sale, the president now owns 127,954 shares of the company’s stock, valued at $3,966,574. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Clarence W. Gooden sold 17,332 shares of the firm’s stock in a transaction that occurred on Monday, September 26th. The shares were sold at an average price of $29.44, for a total value of $510,254.08. Following the completion of the sale, the president now directly owns 127,954 shares of the company’s stock, valued at approximately $3,766,965.76. The disclosure for this sale can be found here. 0.36% of the stock is owned by company insiders.
CSX Corp. Company Profile
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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