Johnson Investment Counsel Inc. lifted its holdings in shares of CSX Co. (NASDAQ:CSX) by 188.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 87,445 shares of the transportation company’s stock after acquiring an additional 57,170 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in CSX were worth $2,805,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of CSX by 200.0% during the 2nd quarter. Vanguard Group Inc. now owns 186,291,657 shares of the transportation company’s stock worth $5,976,237,000 after acquiring an additional 124,203,149 shares during the period. BlackRock Inc. boosted its stake in CSX by 191.3% in the 2nd quarter. BlackRock Inc. now owns 142,288,778 shares of the transportation company’s stock valued at $4,564,624,000 after purchasing an additional 93,442,800 shares during the period. Geode Capital Management LLC boosted its stake in CSX by 201.2% in the 2nd quarter. Geode Capital Management LLC now owns 36,552,387 shares of the transportation company’s stock valued at $1,169,571,000 after purchasing an additional 24,415,872 shares during the period. Bank of New York Mellon Corp boosted its stake in CSX by 188.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 24,666,866 shares of the transportation company’s stock valued at $791,313,000 after purchasing an additional 16,123,717 shares during the period. Finally, Lazard Asset Management LLC boosted its stake in CSX by 199.0% in the 2nd quarter. Lazard Asset Management LLC now owns 24,121,477 shares of the transportation company’s stock valued at $773,815,000 after purchasing an additional 16,055,096 shares during the period. Institutional investors own 71.79% of the company’s stock.
In related news, Director John J. Zillmer sold 15,000 shares of the company’s stock in a transaction dated Tuesday, August 24th. The stock was sold at an average price of $33.54, for a total transaction of $503,100.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Mark Kenneth Wallace sold 161,487 shares of the company’s stock in a transaction dated Wednesday, September 8th. The shares were sold at an average price of $31.60, for a total value of $5,102,989.20. Following the sale, the executive vice president now owns 314,766 shares in the company, valued at approximately $9,946,605.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 291,487 shares of company stock valued at $9,367,739. Insiders own 0.60% of the company’s stock.
CSX (NASDAQ:CSX) last issued its earnings results on Tuesday, July 20th. The transportation company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.02. CSX had a return on equity of 23.96% and a net margin of 29.93%. The business had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.94 billion. During the same quarter in the prior year, the firm earned $0.22 EPS. The business’s revenue for the quarter was up 32.6% compared to the same quarter last year. On average, research analysts forecast that CSX Co. will post 1.51 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 15th. Shareholders of record on Tuesday, November 30th will be issued a $0.093 dividend. The ex-dividend date of this dividend is Monday, November 29th. This represents a $0.37 dividend on an annualized basis and a yield of 1.14%. CSX’s payout ratio is presently 30.33%.
Several analysts recently issued reports on CSX shares. UBS Group boosted their price target on CSX from $37.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday, July 22nd. Zacks Investment Research downgraded CSX from a “buy” rating to a “hold” rating and set a $32.00 price target for the company. in a research note on Wednesday, September 29th. Cowen boosted their price target on CSX from $32.00 to $35.00 and gave the company a “market perform” rating in a research note on Thursday, July 22nd. Susquehanna upped their target price on CSX from $37.00 to $38.00 and gave the company a “positive” rating in a research report on Thursday, July 22nd. Finally, Royal Bank of Canada downgraded CSX from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $37.00 to $32.00 in a research report on Friday, September 17th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, CSX currently has a consensus rating of “Buy” and a consensus target price of $34.70.
CSX Company Profile
CSX Corp. engages in the provision of rail-based freight transportation services. Its services include rail service, the transport of intermodal containers and trailers, rail-to-truck transfers and bulk commodity operations. The company was founded in 1827 and is headquartered in Jacksonville, FL.
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