Hsbc Holdings PLC Purchases Shares of 3,937,983 CSX Corporation $CSX

Hsbc Holdings PLC bought a new position in CSX Corporation (NASDAQ:CSX) during the 2nd quarter, Holdings Channel reports. The fund bought 3,937,983 shares of the transportation company’s stock, valued at approximately $187,202,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. N.E.W. Advisory Services LLC bought a new stake in CSX in the second quarter worth $27,000. WFA of San Diego LLC purchased a new position in shares of CSX in the 2nd quarter worth $28,000. Manning & Napier Advisors LLC purchased a new position in shares of CSX in the 2nd quarter worth $30,000. Arlington Trust Co LLC raised its position in shares of CSX by 58.0% during the 2nd quarter. Arlington Trust Co LLC now owns 681 shares of the transportation company’s stock valued at $32,000 after buying an additional 250 shares in the last quarter. Finally, Wilkerson Advisory Group LLC lifted its holdings in shares of CSX by 97.4% in the 1st quarter. Wilkerson Advisory Group LLC now owns 829 shares of the transportation company’s stock valued at $34,000 after acquiring an additional 409 shares during the last quarter. 73.57% of the stock is owned by institutional investors.

CSX Stock Performance

Shares of CSX stock opened at $51.51 on Wednesday. The company has a current ratio of 0.82, a quick ratio of 0.72 and a debt-to-equity ratio of 1.22. The stock’s fifty day moving average price is $49.55 and its 200-day moving average price is $45.37. The firm has a market cap of $95.42 billion, a P/E ratio of 29.77, a P/E/G ratio of 2.35 and a beta of 1.21. CSX Corporation has a 12 month low of $31.80 and a 12 month high of $53.60.

CSX (NASDAQ:CSX) last posted its earnings results on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. CSX had a return on equity of 24.98% and a net margin of 22.21%.The company had revenue of $3.94 billion during the quarter, compared to analyst estimates of $3.89 billion. During the same quarter in the prior year, the business earned $0.44 earnings per share. CSX’s revenue was up 10.1% on a year-over-year basis. On average, equities research analysts expect that CSX Corporation will post 2 earnings per share for the current fiscal year.

CSX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $0.56 dividend on an annualized basis and a yield of 1.1%. CSX’s dividend payout ratio (DPR) is presently 32.37%.

Insider Buying and Selling

In other CSX news, Director John J. Zillmer sold 10,000 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $46.45, for a total value of $464,500.00. Following the completion of the transaction, the director directly owned 353,714 shares in the company, valued at approximately $16,430,015.30. The trade was a 2.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Michael S. Burns sold 13,000 shares of the stock in a transaction on Friday, July 24th. The shares were sold at an average price of $52.68, for a total value of $684,840.00. Following the sale, the senior vice president owned 59,643 shares of the company’s stock, valued at approximately $3,141,993.24. This represents a 17.90% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 189,708 shares of company stock worth $9,132,304 over the last ninety days. 0.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

CSX has been the subject of several recent research reports. JPMorgan Chase & Co. lifted their price target on CSX from $56.00 to $58.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Morgan Stanley set a $32.00 price target on CSX and gave the stock an “underweight” rating in a research report on Monday, July 6th. Royal Bank Of Canada reiterated an “outperform” rating and set a $54.00 price objective (up from $51.00) on shares of CSX in a research report on Thursday, July 23rd. Benchmark restated a “buy” rating and issued a $54.00 target price (up from $48.00) on shares of CSX in a report on Wednesday, July 15th. Finally, TD Cowen upped their price target on shares of CSX from $46.00 to $54.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. Eighteen 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $51.31.

About CSX

CSX Corporation is a leading North American transportation company that provides rail-based freight services and supply-chain solutions. Its operating subsidiary, CSX Transportation, moves a wide range of goods for customers across multiple industries, using a combination of long-haul rail service, intermodal operations and terminal and yard services. The company focuses on delivering efficient, reliable freight transportation between major production centers, consumption markets and port gateways.

CSX’s freight portfolio includes intermodal containers and trailers, bulk commodities, industrial products and specialized unit trains.