CSX Corporation $CSX Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp decreased its holdings in shares of CSX Corporation (NASDAQ:CSX) by 8.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 578,227 shares of the transportation company’s stock after selling 50,277 shares during the quarter. Fifth Third Bancorp’s holdings in CSX were worth $26,893,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in CSX during the second quarter worth about $7,655,277,000. XXEC Inc. purchased a new position in shares of CSX in the second quarter valued at approximately $765,595,000. Bank of America Corp DE purchased a new stake in shares of CSX during the second quarter worth $1,598,962,000. Bank of New York Mellon Corp acquired a new position in shares of CSX during the second quarter worth about $950,325,000. Finally, Legal & General Group Plc purchased a new stake in shares of CSX during the 2nd quarter worth $747,001,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CSX. Barclays restated an “overweight” rating and set a $60.00 target price (up from $55.00) on shares of CSX in a research note on Thursday, July 23rd. Bank of America boosted their price target on shares of CSX from $55.00 to $57.00 and gave the stock a “buy” rating in a research note on Thursday, October 22nd. Citigroup reaffirmed a “neutral” rating and set a $54.00 price target (up from $53.00) on shares of CSX in a research note on Friday, October 23rd. Weiss Ratings raised CSX from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, October 29th. Finally, JPMorgan Chase & Co. raised their price target on CSX from $57.00 to $58.00 and gave the stock an “overweight” rating in a research report on Thursday, October 22nd. Eighteen research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, CSX currently has an average rating of “Moderate Buy” and an average target price of $52.20.

Insider Transactions at CSX

In other CSX news, Director John Zillmer sold 19,500 shares of the stock in a transaction that occurred on Monday, October 26th. The stock was sold at an average price of $51.24, for a total transaction of $999,180.00. Following the transaction, the director owned 334,214 shares of the company’s stock, valued at $17,125,125.36. This trade represents a 5.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.30% of the stock is owned by insiders.

CSX Price Performance

CSX opened at $52.05 on Friday. The company has a 50 day moving average of $48.99 and a two-hundred day moving average of $46.26. The company has a market cap of $95.95 billion, a P/E ratio of 26.97, a P/E/G ratio of 2.29 and a beta of 1.12. CSX Corporation has a 52-week low of $33.63 and a 52-week high of $53.60. The company has a quick ratio of 0.75, a current ratio of 0.84 and a debt-to-equity ratio of 1.19.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Wednesday, October 21st. The transportation company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.04. CSX had a net margin of 23.97% and a return on equity of 25.94%. The company had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.96 billion. During the same quarter last year, the firm posted $0.44 earnings per share. The business’s quarterly revenue was up 12.0% on a year-over-year basis. On average, analysts expect that CSX Corporation will post 2.06 earnings per share for the current year.

CSX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Monday, November 30th will be given a $0.14 dividend. The ex-dividend date of this dividend is Monday, November 30th. This represents a $0.56 annualized dividend and a dividend yield of 1.1%. CSX’s payout ratio is presently 29.02%.

CSX Company Profile

CSX Corporation is a freight transportation company that operates one of the largest rail networks in the eastern United States. Its rail system serves customers across much of the eastern U.S., as well as parts of Canada, and connects with other railroads and ports. CSX transports a broad range of goods, including chemicals, agricultural and food products, automobiles, minerals, forest products, coal and intermodal freight. Its services include rail transportation, intermodal shipping that combines rail and truck transport, and related logistics and supply-chain services.