Raab & Moskowitz Asset Management LLC boosted its stake in shares of CSX Co. (NASDAQ:CSX) by 7.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,947 shares of the transportation company’s stock after purchasing an additional 720 shares during the quarter. Raab & Moskowitz Asset Management LLC’s holdings in CSX were worth $1,055,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of CSX. BLB&B Advisors LLC boosted its holdings in CSX by 5.7% in the fourth quarter. BLB&B Advisors LLC now owns 96,981 shares of the transportation company’s stock worth $8,801,000 after acquiring an additional 5,260 shares in the last quarter. Raymond James Trust N.A. boosted its holdings in CSX by 75.5% in the fourth quarter. Raymond James Trust N.A. now owns 27,809 shares of the transportation company’s stock worth $2,524,000 after acquiring an additional 11,961 shares in the last quarter. Everence Capital Management Inc. acquired a new stake in CSX in the first quarter worth about $1,508,000. Grandview Asset Management LLC raised its stake in shares of CSX by 309.2% in the fourth quarter. Grandview Asset Management LLC now owns 19,795 shares of the transportation company’s stock worth $1,796,000 after purchasing an additional 14,957 shares during the last quarter. Finally, Schwab Charitable Fund purchased a new position in shares of CSX in the fourth quarter worth about $5,871,000. 73.75% of the stock is currently owned by institutional investors.
In other CSX news, Director John J. Zillmer sold 17,217 shares of the business’s stock in a transaction that occurred on Thursday, April 22nd. The stock was sold at an average price of $102.92, for a total value of $1,771,973.64. Following the sale, the director now owns 140,000 shares of the company’s stock, valued at $14,408,800. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director David M. Moffett sold 5,819 shares of the company’s stock in a transaction on Monday, May 3rd. The stock was sold at an average price of $101.93, for a total value of $593,130.67. The disclosure for this sale can be found here. In the last three months, insiders sold 2,001,520 shares of company stock worth $201,920,643. 0.58% of the stock is owned by corporate insiders.
CSX (NASDAQ:CSX) last released its quarterly earnings data on Monday, April 19th. The transportation company reported $0.93 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.95 by ($0.02). The company had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.80 billion. CSX had a return on equity of 22.83% and a net margin of 26.08%. The business’s quarterly revenue was down 1.5% on a year-over-year basis. During the same period last year, the firm posted $1.00 EPS. Equities research analysts forecast that CSX Co. will post 3.61 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, March 15th. Shareholders of record on Friday, February 26th were given a $0.28 dividend. This is a positive change from CSX’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Thursday, February 25th. This represents a $1.12 dividend on an annualized basis and a yield of 1.10%. CSX’s payout ratio is presently 26.86%.
Several research analysts have recently issued reports on CSX shares. Argus raised their price objective on CSX from $90.00 to $98.00 and gave the stock a “buy” rating in a research note on Monday, January 25th. Royal Bank of Canada raised their price objective on CSX from $100.00 to $108.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 27th. Vertical Research started coverage on CSX in a research note on Friday, March 26th. They issued a “hold” rating for the company. Deutsche Bank Aktiengesellschaft raised their price objective on CSX from $105.00 to $113.00 and gave the stock a “buy” rating in a research note on Tuesday, April 27th. Finally, BMO Capital Markets upgraded CSX from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $95.00 to $110.00 in a research report on Tuesday, April 27th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $94.70.
CSX Company Profile
CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services; and transportation of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations. It transports chemicals, agricultural and food products, automotive, minerals, forest products, fertilizers, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants, as well as exports coal to deep-water port facilities.
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