CSX Corporation $CSX Stock Sold by Profund Advisors LLC

Profund Advisors LLC lessened its holdings in CSX Corporation (NASDAQ:CSX) by 8.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 133,485 shares of the transportation company’s stock after selling 12,564 shares during the period. Profund Advisors LLC’s holdings in CSX were worth $6,208,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of CSX in the 2nd quarter valued at $7,655,277,000. Bank of America Corp DE acquired a new stake in CSX during the second quarter worth approximately $1,598,962,000. Bank of New York Mellon Corp bought a new position in CSX during the 2nd quarter worth $950,325,000. XXEC Inc. acquired a new position in shares of CSX during the 2nd quarter worth $765,595,000. Finally, Legal & General Group Plc bought a new stake in shares of CSX during the second quarter worth about $747,001,000. Institutional investors own 73.57% of the company’s stock.

Insider Transactions at CSX

In other news, Director John Zillmer sold 19,500 shares of the stock in a transaction dated Monday, October 26th. The shares were sold at an average price of $51.24, for a total value of $999,180.00. Following the completion of the transaction, the director owned 334,214 shares in the company, valued at $17,125,125.36. This trade represents a 5.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on CSX. Barclays reiterated an “overweight” rating and set a $60.00 price objective (up from $55.00) on shares of CSX in a research report on Thursday, July 23rd. Stephens began coverage on shares of CSX in a research report on Wednesday, July 8th. They issued an “overweight” rating and a $57.00 price target on the stock. UBS Group set a $54.00 price objective on CSX in a research report on Thursday, October 22nd. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $49.00 price objective on shares of CSX in a report on Thursday, October 22nd. Finally, Stifel Nicolaus set a $54.00 price objective on CSX in a report on Thursday, July 23rd. Eighteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $52.20.

CSX Trading Down 0.5%

CSX stock opened at $51.99 on Friday. CSX Corporation has a 12-month low of $33.63 and a 12-month high of $53.60. The company has a current ratio of 0.84, a quick ratio of 0.75 and a debt-to-equity ratio of 1.19. The firm has a market capitalization of $95.84 billion, a price-to-earnings ratio of 26.94, a P/E/G ratio of 2.29 and a beta of 1.21. The firm has a 50 day moving average of $48.86 and a 200 day moving average of $45.51.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Wednesday, October 21st. The transportation company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.04. CSX had a return on equity of 25.94% and a net margin of 23.97%. The firm had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.96 billion. During the same quarter last year, the firm earned $0.44 EPS. The business’s quarterly revenue was up 12.0% on a year-over-year basis. As a group, research analysts predict that CSX Corporation will post 2.04 earnings per share for the current year.

CSX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 30th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Monday, November 30th. CSX’s dividend payout ratio is 29.02%.

CSX Company Profile

CSX Corporation is a transportation company whose primary business is freight railroading through its CSX Transportation subsidiary. The company operates an extensive rail network across the eastern United States, serving major industrial centers, population hubs, ports and distribution markets.

CSX transports a broad range of products, including chemicals, agricultural and food products, forest products, minerals, metals, automotive goods and other manufactured merchandise. Its services also include intermodal transportation, which combines rail service with trucks and containers, as well as the movement of coal and other bulk commodities.

The company traces its roots to the formation of CSX Corporation in 1980 through the merger of Chessie System and Seaboard Coast Line Industries.