CSX Corp. (CSX) Shares Sold by Ancora Inverness LLC
Ancora Inverness LLC cut its position in CSX Corp. (NASDAQ:CSX) by 1.0% during the third quarter, Holdings Channel reports. The institutional investor owned 70,565 shares of the company’s stock after selling 694 shares during the period. Ancora Inverness LLC’s holdings in CSX Corp. were worth $2,152,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in CSX. North Star Investment Management Corp. increased its position in CSX Corp. by 5.8% in the second quarter. North Star Investment Management Corp. now owns 77,535 shares of the company’s stock valued at $2,022,000 after buying an additional 4,237 shares during the period. Trust Co increased its position in CSX Corp. by 2.5% in the first quarter. Trust Co now owns 21,779 shares of the company’s stock valued at $561,000 after buying an additional 530 shares during the period. Chevy Chase Trust Holdings Inc. increased its position in CSX Corp. by 0.8% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 867,658 shares of the company’s stock valued at $22,629,000 after buying an additional 7,264 shares during the period. Exxonmobil Investment Management Inc. TX increased its position in CSX Corp. by 5.5% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 247,426 shares of the company’s stock valued at $6,453,000 after buying an additional 12,922 shares during the period. Finally, DNB Asset Management AS increased its position in CSX Corp. by 2.0% in the second quarter. DNB Asset Management AS now owns 78,064 shares of the company’s stock valued at $2,036,000 after buying an additional 1,500 shares during the period. Institutional investors own 68.97% of the company’s stock.
Shares of CSX Corp. (NASDAQ:CSX) traded up 0.37% during midday trading on Tuesday, hitting $34.80. The company had a trading volume of 5,548,572 shares. CSX Corp. has a one year low of $21.33 and a one year high of $35.23. The stock has a market capitalization of $32.60 billion, a price-to-earnings ratio of 19.37 and a beta of 1.11. The stock’s 50-day moving average price is $32.17 and its 200-day moving average price is $28.86.
CSX Corp. (NASDAQ:CSX) last released its earnings results on Wednesday, October 12th. The company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.03. CSX Corp. had a return on equity of 14.79% and a net margin of 15.93%. The firm earned $2.71 billion during the quarter. During the same quarter in the previous year, the company earned $0.52 earnings per share. The firm’s revenue for the quarter was down 7.8% on a year-over-year basis. Analysts predict that CSX Corp. will post $1.79 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Wednesday, November 30th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend is Monday, November 28th. CSX Corp.’s payout ratio is presently 40.00%.
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CSX has been the subject of several analyst reports. Sanford C. Bernstein restated a “market perform” rating and set a $32.00 target price on shares of CSX Corp. in a research report on Wednesday, October 26th. Vetr downgraded CSX Corp. from a “hold” rating to a “sell” rating and set a $33.25 target price for the company. in a research report on Tuesday, November 15th. Zacks Investment Research downgraded CSX Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, November 16th. Barclays PLC upgraded CSX Corp. from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $30.00 to $35.00 in a research report on Monday, September 12th. Finally, Wolfe Research upgraded CSX Corp. from a “market perform” rating to an “outperform” rating and set a $35.00 target price for the company in a research report on Tuesday, September 13th. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and fourteen have issued a buy rating to the company’s stock. CSX Corp. presently has an average rating of “Hold” and a consensus price target of $30.45.
In other CSX Corp. news, Chairman Michael J. Ward sold 300,000 shares of the company’s stock in a transaction on Monday, October 17th. The stock was sold at an average price of $30.97, for a total transaction of $9,291,000.00. Following the completion of the sale, the chairman now directly owns 198,742 shares in the company, valued at $6,155,039.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Clarence W. Gooden sold 15,625 shares of the company’s stock in a transaction on Monday, November 7th. The stock was sold at an average price of $32.00, for a total value of $500,000.00. Following the sale, the president now owns 127,954 shares of the company’s stock, valued at $4,094,528. The disclosure for this sale can be found here. Company insiders own 0.36% of the company’s stock.
CSX Corp. Company Profile
CSX Corporation, together with its subsidiaries, is a transportation company. The Company provides rail-based transportation services, including rail service and the transport of intermodal containers and trailers. The Company serves three lines of business, such as merchandise business, coal business and intermodal business.
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