UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $643.81 Million Holdings in CSX Corporation $CSX

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of CSX Corporation (NASDAQ:CSX) by 3.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,545,422 shares of the transportation company’s stock after acquiring an additional 479,630 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.73% of CSX worth $643,814,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in CSX. Archer Investment Corp purchased a new position in CSX during the second quarter valued at approximately $26,000. N.E.W. Advisory Services LLC acquired a new position in shares of CSX in the second quarter worth $27,000. Pin Oak Investment Advisors Inc. purchased a new stake in shares of CSX during the second quarter worth $29,000. Manning & Napier Advisors LLC purchased a new position in CSX in the second quarter valued at about $30,000. Finally, Arlington Trust Co LLC raised its stake 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 worth $32,000 after purchasing an additional 250 shares in the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.

CSX Price Performance

Shares of NASDAQ:CSX opened at $51.28 on Friday. The firm has a market capitalization of $94.99 billion, a PE ratio of 29.64, a PEG ratio of 2.34 and a beta of 1.21. The company has a current ratio of 0.82, a quick ratio of 0.72 and a debt-to-equity ratio of 1.22. CSX Corporation has a 1-year low of $31.80 and a 1-year high of $53.60. The business’s 50 day moving average is $49.91 and its 200-day moving average is $45.57.

CSX (NASDAQ:CSX) last posted its quarterly 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 net margin of 22.21% and a return on equity of 24.98%. The firm had revenue of $3.94 billion for the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter in the previous year, the company earned $0.44 earnings per share. The business’s revenue was up 10.1% compared to the same quarter last year. Sell-side analysts predict that CSX Corporation will post 2 earnings per share for the current year.

CSX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be issued a $0.14 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $0.56 annualized dividend and a dividend yield of 1.1%. CSX’s dividend payout ratio is presently 32.37%.

Insider Activity

In other CSX news, CAO Angela C. Williams sold 30,000 shares of the business’s stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $53.29, for a total value of $1,598,700.00. Following the transaction, the chief accounting officer directly owned 10,437 shares in the company, valued at $556,187.73. The trade was a 74.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John J. Zillmer sold 10,000 shares of the firm’s stock in a transaction on 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 sale, the director owned 353,714 shares of the company’s stock, valued at approximately $16,430,015.30. This trade represents a 2.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 189,708 shares of company stock worth $9,132,304. Company insiders own 0.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on CSX shares. JPMorgan Chase & Co. boosted their target price on shares of 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 objective on CSX and gave the company an “underweight” rating in a research note on Monday, July 6th. Wells Fargo & Company lifted their price target on shares of CSX from $50.00 to $54.00 and gave the company an “overweight” rating in a research report on Wednesday, July 8th. Citizens Jmp initiated coverage on shares of CSX in a research note on Wednesday, July 15th. They issued a “market perform” rating on the stock. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $54.00 price target (up from $51.00) on shares of CSX in a report on Thursday, July 23rd. Eighteen analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $51.31.

CSX Profile

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.