CSX Corporation $CSX Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC trimmed its position in CSX Corporation (NASDAQ:CSX) by 41.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,381,746 shares of the transportation company’s stock after selling 977,271 shares during the period. SG Americas Securities LLC’s holdings in CSX were worth $50,088,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Cbre Investment Management Listed Real Assets LLC lifted its stake in CSX by 81.9% during the third quarter. Cbre Investment Management Listed Real Assets LLC now owns 944,946 shares of the transportation company’s stock worth $33,555,000 after purchasing an additional 425,395 shares during the last quarter. Reaves W H & Co. Inc. bought a new stake in CSX during the third quarter valued at $5,326,000. Allstate Corp acquired a new stake in shares of CSX during the third quarter worth $2,363,000. Strengthening Families & Communities LLC acquired a new stake in shares of CSX during the third quarter worth $2,199,000. Finally, Canada Post Corp Registered Pension Plan lifted its position in shares of CSX by 131.0% in the 3rd quarter. Canada Post Corp Registered Pension Plan now owns 71,918 shares of the transportation company’s stock worth $2,577,000 after buying an additional 40,780 shares during the last quarter. 73.57% of the stock is owned by institutional investors and hedge funds.

CSX Stock Down 0.2%

CSX stock opened at $38.87 on Wednesday. The company has a 50-day simple moving average of $39.67 and a 200-day simple moving average of $36.86. The firm has a market capitalization of $72.28 billion, a P/E ratio of 25.24, a P/E/G ratio of 1.99 and a beta of 1.27. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.69 and a current ratio of 0.81. CSX Corporation has a one year low of $26.22 and a one year high of $43.35.

CSX (NASDAQ:CSX) last released its quarterly earnings data on Thursday, January 22nd. The transportation company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). The firm had revenue of $3.51 billion during the quarter, compared to analyst estimates of $3.59 billion. CSX had a return on equity of 23.88% and a net margin of 20.50%.The firm’s revenue was down .9% on a year-over-year basis. During the same period last year, the business earned $0.42 EPS. As a group, equities analysts expect that CSX Corporation will post 1.83 earnings per share for the current year.

CSX Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 27th were paid a $0.14 dividend. The ex-dividend date was Friday, February 27th. This is an increase from CSX’s previous quarterly dividend of $0.13. This represents a $0.56 annualized dividend and a dividend yield of 1.4%. CSX’s dividend payout ratio (DPR) is 36.36%.

Insider Activity

In other news, EVP Stephen Fortune sold 31,456 shares of CSX stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $38.65, for a total transaction of $1,215,774.40. Following the sale, the executive vice president owned 82,034 shares of the company’s stock, valued at approximately $3,170,614.10. The trade was a 27.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Diana B. Sorfleet sold 90,000 shares of the business’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $41.56, for a total value of $3,740,400.00. Following the transaction, the chief accounting officer owned 165,613 shares of the company’s stock, valued at approximately $6,882,876.28. This represents a 35.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 188,123 shares of company stock valued at $7,454,854. Insiders own 0.35% of the company’s stock.

Analyst Ratings Changes

CSX has been the subject of several research reports. Deutsche Bank Aktiengesellschaft lifted their price target on shares of CSX from $40.00 to $43.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Wolfe Research increased their price objective on shares of CSX from $42.00 to $44.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 10th. Citigroup cut their target price on shares of CSX from $42.00 to $41.00 and set a “buy” rating on the stock in a report on Friday, January 23rd. Sanford C. Bernstein restated a “market perform” rating and issued a $36.00 target price (down from $37.00) on shares of CSX in a research note on Friday, January 23rd. Finally, Argus upped their target price on CSX from $40.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday, January 27th. Eighteen research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.48.

CSX Company Profile

CSX Corporation is a leading North American transportation company that provides rail-based freight services and supply-chain solutions. Its operating subsidiary, CSX Transportation, moves a wide range of goods for customers across multiple industries, using a combination of long-haul rail service, intermodal operations and terminal and yard services. The company focuses on delivering efficient, reliable freight transportation between major production centers, consumption markets and port gateways.

CSX’s freight portfolio includes intermodal containers and trailers, bulk commodities, industrial products and specialized unit trains.