CSX Corporation $CSX Stock Holdings Increased by Vise Technologies Inc.

Vise Technologies Inc. increased its stake in shares of CSX Corporation (NASDAQ:CSX) by 58.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 93,254 shares of the transportation company’s stock after acquiring an additional 34,315 shares during the quarter. Vise Technologies Inc.’s holdings in CSX were worth $4,337,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Investment Partners LTD. acquired a new stake in CSX during the third quarter worth approximately $529,000. MGO One Seven LLC boosted its holdings in shares of CSX by 13.0% during the third quarter. MGO One Seven LLC now owns 43,070 shares of the transportation company’s stock worth $2,003,000 after acquiring an additional 4,959 shares during the period. Americana Partners LLC grew its position in shares of CSX by 1.4% in the third quarter. Americana Partners LLC now owns 24,581 shares of the transportation company’s stock valued at $1,143,000 after purchasing an additional 344 shares during the last quarter. Aprio Wealth Management LLC grew its position in shares of CSX by 4.0% in the third quarter. Aprio Wealth Management LLC now owns 16,024 shares of the transportation company’s stock valued at $745,000 after purchasing an additional 614 shares during the last quarter. Finally, Avestar Capital LLC grew its position in shares of CSX by 6.8% in the third quarter. Avestar Capital LLC now owns 15,529 shares of the transportation company’s stock valued at $722,000 after purchasing an additional 985 shares during the last quarter. Institutional investors own 73.57% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Sanford C. Bernstein reiterated a “market perform” rating and set a $49.00 target price on shares of CSX in a research note on Thursday, October 22nd. Stephens assumed coverage on CSX in a research note on Wednesday, July 8th. They issued an “overweight” rating and a $57.00 price target for the company. Argus set a $56.00 price objective on CSX in a report on Friday, July 31st. JPMorgan Chase & Co. upped their price objective on CSX from $57.00 to $58.00 and gave the company an “overweight” rating in a report on Thursday, October 22nd. Finally, Barclays reiterated an “overweight” rating and set a $60.00 price objective (up from $55.00) on shares of CSX in a research report on Thursday, July 23rd. Eighteen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, CSX currently has an average rating of “Moderate Buy” and an average target price of $52.20.

CSX Price Performance

Shares of CSX stock opened at $50.72 on Wednesday. The company has a quick ratio of 0.75, a current ratio of 0.84 and a debt-to-equity ratio of 1.19. The stock has a market capitalization of $93.50 billion, a price-to-earnings ratio of 26.28, a price-to-earnings-growth ratio of 2.27 and a beta of 1.12. CSX Corporation has a twelve month low of $33.63 and a twelve month high of $53.60. The company has a 50-day simple moving average of $48.85 and a two-hundred day simple moving average of $45.67.

CSX (NASDAQ:CSX) last announced its earnings results on Wednesday, October 21st. The transportation company reported $0.57 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.96 billion. During the same quarter in the prior year, the business posted $0.44 EPS. The business’s revenue was up 12.0% compared to the same quarter last year. Analysts forecast that CSX Corporation will post 2.04 EPS for the current year.

CSX Dividend Announcement

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

Insider Activity

In related news, Director John Zillmer sold 19,500 shares of the business’s stock in a transaction that occurred on Monday, October 26th. The stock was sold at an average price of $51.24, for a total value of $999,180.00. Following the completion of the sale, the director directly owned 334,214 shares in the company, valued at approximately $17,125,125.36. The trade was a 5.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.30% of the company’s stock.

About CSX

CSX Corporation is a transportation company whose primary business is freight railroading through its CSX Transportation subsidiary. The company operates an extensive rail network across the eastern United States, serving major industrial centers, population hubs, ports and distribution markets.

CSX transports a broad range of products, including chemicals, agricultural and food products, forest products, minerals, metals, automotive goods and other manufactured merchandise. Its services also include intermodal transportation, which combines rail service with trucks and containers, as well as the movement of coal and other bulk commodities.

The company traces its roots to the formation of CSX Corporation in 1980 through the merger of Chessie System and Seaboard Coast Line Industries.