CSX Corporation (CSX) Shares Sold by Rafferty Asset Management LLC
Rafferty Asset Management LLC decreased its position in CSX Corporation (NASDAQ:CSX) by 12.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,527 shares of the transportation company’s stock after selling 3,410 shares during the period. Rafferty Asset Management LLC’s holdings in CSX Corporation were worth $1,142,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. Lincoln Capital Corp purchased a new position in shares of CSX Corporation during the fourth quarter valued at $4,602,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in CSX Corporation during the fourth quarter worth approximately $2,695,000. Wealthfront Inc. raised its position in CSX Corporation by 14.9% in the fourth quarter. Wealthfront Inc. now owns 16,838 shares of the transportation company’s stock worth $605,000 after buying an additional 2,180 shares during the last quarter. UBS Asset Management Americas Inc. raised its position in CSX Corporation by 6.1% in the fourth quarter. UBS Asset Management Americas Inc. now owns 2,799,536 shares of the transportation company’s stock worth $100,589,000 after buying an additional 162,070 shares during the last quarter. Finally, Jackson Grant Investment Advisers Inc. raised its position 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 during the last quarter. 70.00% of the stock is owned by hedge funds and other institutional investors.
CSX Corporation (NASDAQ:CSX) traded up 2.35% on Thursday, hitting $49.27. 8,560,501 shares of the company’s stock traded hands. CSX Corporation has a one year low of $27.68 and a one year high of $55.48. The stock has a 50-day moving average of $52.99 and a 200-day moving average of $49.96. The stock has a market cap of $45.00 billion, a PE ratio of 25.80 and a beta of 1.30.
CSX Corporation (NASDAQ:CSX) last posted its quarterly earnings results on Tuesday, July 18th. The transportation company reported $0.64 earnings per share (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 return on equity of 16.93% and a net margin of 15.46%. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.47 earnings per share. On average, equities analysts forecast that CSX Corporation will post $2.30 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date is Tuesday, August 29th. CSX Corporation’s dividend payout ratio (DPR) is currently 41.88%.
CSX Corporation declared that its board has authorized a stock buyback program on Thursday, April 20th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the transportation company to reacquire up to 2.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.
CSX has been the subject of a number of analyst reports. BMO Capital Markets reaffirmed a “buy” rating and issued a $58.00 price target on shares of CSX Corporation in a report on Friday, April 21st. Aegis raised CSX Corporation from a “hold” rating to a “buy” rating and lifted their price objective for the company from $50.00 to $64.00 in a research note on Friday, April 21st. TD Securities restated a “buy” rating and set a $64.00 price target (up previously from $57.00) on shares of CSX Corporation in a research report on Friday, April 21st. UBS AG restated a “buy” rating and set a $60.00 price target (up previously from $57.00) on shares of CSX Corporation in a research report on Monday, April 24th. Finally, Royal Bank Of Canada restated a “buy” rating and set a $65.00 price target on shares of CSX Corporation in a research report on Friday, June 9th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nineteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $53.74.
In related news, Director Ridge Lp Mantle bought 1,357,000 shares of CSX Corporation stock in a transaction on Friday, July 21st. The shares were purchased at an average price of $51.59 per share, for a total transaction of $70,007,630.00. Following the completion of the acquisition, the director now owns 106 shares in the company, valued at $5,468.54. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 4.79% of the stock is currently owned by company insiders.
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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