Commonwealth Equity Services LLC Grows Stock Position in CSX Co. (NASDAQ:CSX)
Commonwealth Equity Services LLC boosted its stake in shares of CSX Co. (NASDAQ:CSX) by 2.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 262,884 shares of the transportation company’s stock after buying an additional 5,885 shares during the period. Commonwealth Equity Services LLC’s holdings in CSX were worth $20,339,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in shares of CSX during the 4th quarter worth about $463,481,000. CI Investments Inc. bought a new position in CSX in the fourth quarter valued at approximately $370,449,000. FMR LLC boosted its stake in CSX by 14.1% in the fourth quarter. FMR LLC now owns 23,161,058 shares of the transportation company’s stock valued at $1,438,997,000 after acquiring an additional 2,867,186 shares during the last quarter. Impala Asset Management LLC bought a new position in CSX in the first quarter valued at approximately $88,463,000. Finally, Magellan Asset Management Ltd bought a new position in CSX in the first quarter valued at approximately $73,749,000. Institutional investors own 75.74% of the company’s stock.
In other CSX news, EVP Nathan D. Goldman sold 7,000 shares of CSX stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $79.50, for a total value of $556,500.00. Following the sale, the executive vice president now owns 79,697 shares in the company, valued at $6,335,911.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.83% of the stock is currently owned by company insiders.
CSX (NASDAQ:CSX) last released its quarterly earnings results on Tuesday, July 16th. The transportation company reported $1.08 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.11 by ($0.03). The business had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.14 billion. CSX had a net margin of 27.87% and a return on equity of 26.96%. CSX’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.01 EPS. On average, research analysts anticipate that CSX Co. will post 4.15 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.37%. The ex-dividend date is Thursday, August 29th. CSX’s dividend payout ratio is presently 25.00%.
CSX has been the topic of a number of recent research reports. BMO Capital Markets initiated coverage on shares of Yelp in a research note on Wednesday, April 17th. They issued an “outperform” rating on the stock. Loop Capital lowered shares of CSX from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $85.00 to $81.00 in a report on Wednesday, July 10th. TD Securities lowered shares of Turquoise Hill Resources from a “buy” rating to a “speculative buy” rating and dropped their price objective for the stock from C$4.00 to C$2.25 in a report on Wednesday, July 17th. Credit Suisse Group set a GBX 3,090 ($40.38) target price on shares of Royal Dutch Shell and gave the company a “buy” rating in a research report on Wednesday, July 17th. Finally, Goldman Sachs Group downgraded shares of EXPERIAN PLC/ADR from a “buy” rating to a “neutral” rating in a research report on Wednesday, July 10th. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $78.13.
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.
See Also: CBOE Russell 2000® Volatility Index
Want to see what other hedge funds are holding CSX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CSX Co. (NASDAQ:CSX).
Receive News & Ratings for CSX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CSX and related companies with MarketBeat.com's FREE daily email newsletter.