Argent Trust Co reduced its position in CSX Corporation (NASDAQ:CSX) by 1.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,101 shares of the transportation company’s stock after selling 230 shares during the period. Argent Trust Co’s holdings in CSX Corporation were worth $1,028,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Paragon Capital Management Ltd acquired a new position in CSX Corporation during the first quarter worth $9,357,000. State of Alaska Department of Revenue acquired a new position in CSX Corporation during the first quarter worth $375,000. Jackson Grant Investment Advisers Inc. raised its position in CSX Corporation by 0.3% in the fourth quarter. Jackson Grant Investment Advisers Inc. now owns 9,519 shares of the transportation company’s stock worth $342,000 after buying an additional 25 shares during the period. Cantab Capital Partners LLP acquired a new position in CSX Corporation during the fourth quarter worth $1,056,000. Finally, Chicago Equity Partners LLC acquired a new position in CSX Corporation during the first quarter worth $4,923,000. 69.36% of the stock is owned by hedge funds and other institutional investors.
Shares of CSX Corporation (NASDAQ CSX) opened at 52.74 on Friday. CSX Corporation has a one year low of $24.43 and a one year high of $55.06. The stock has a 50 day moving average price of $52.51 and a 200 day moving average price of $46.23. The stock has a market capitalization of $48.66 billion, a P/E ratio of 28.79 and a beta of 1.33.
CSX Corporation (NASDAQ:CSX) last released its quarterly earnings data on Wednesday, April 19th. The transportation company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.08. CSX Corporation had a return on equity of 15.67% and a net margin of 15.19%. The firm had revenue of $2.87 billion for the quarter, compared to analysts’ expectations of $2.76 billion. During the same period in the prior year, the firm posted $0.37 earnings per share. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. Equities analysts forecast that CSX Corporation will post $2.29 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Wednesday, May 31st were issued a $0.20 dividend. The ex-dividend date was Friday, May 26th. This is a boost from CSX Corporation’s previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a yield of 1.52%. CSX Corporation’s dividend payout ratio is currently 43.72%.
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A number of equities analysts have recently weighed in on CSX shares. Zacks Investment Research raised CSX Corporation from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a research note on Wednesday, March 1st. Citigroup Inc. upped their price objective on CSX Corporation from $51.00 to $58.00 and gave the stock a “buy” rating in a research note on Tuesday, March 7th. Deutsche Bank AG raised CSX Corporation from a “hold” rating to a “buy” rating and upped their price objective for the stock from $42.00 to $56.00 in a research note on Tuesday, February 28th. TD Securities reissued a “buy” rating and set a $64.00 price target (up from $57.00) on shares of CSX Corporation in a research note on Friday, April 21st. Finally, Avondale Partners raised CSX Corporation from a “market perform” rating to a “market outperform” rating in a research note on Tuesday, March 28th. Eleven investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $52.06.
In other CSX Corporation news, CEO E Hunter Harrison acquired 300,000 shares of the firm’s stock in a transaction that occurred on Monday, April 24th. The shares were purchased at an average cost of $50.20 per share, for a total transaction of $15,060,000.00. Following the completion of the acquisition, the chief executive officer now owns 300,000 shares of the company’s stock, valued at approximately $15,060,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 4.79% of the company’s stock.
About CSX Corporation
CSX Corporation is a transportation company. The Company provides rail-based freight transportation services, including traditional rail service and transport of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations.
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