95,402 CSX Corporation $CSX Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. trimmed its holdings in shares of CSX Corporation (NASDAQ:CSX) by 2.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,352,270 shares of the transportation company’s stock after selling 95,402 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.24% of CSX worth $202,424,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of CSX during the 2nd quarter worth $7,655,277,000. Bank of America Corp DE bought a new stake in shares of CSX during the second quarter worth about $1,598,962,000. Bank of New York Mellon Corp bought a new stake in shares of CSX during the second quarter worth about $950,325,000. XXEC Inc. acquired a new position in shares of CSX in the second quarter valued at approximately $765,595,000. Finally, Legal & General Group Plc acquired a new position in shares of CSX in the second quarter valued at approximately $747,001,000. 73.57% of the stock is owned by institutional investors and hedge funds.

CSX Stock Performance

CSX stock opened at $51.99 on Monday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.75 and a current ratio of 0.84. CSX Corporation has a fifty-two week low of $33.63 and a fifty-two week high of $53.60. The stock has a market cap of $95.84 billion, a P/E ratio of 26.94, a PEG ratio of 2.29 and a beta of 1.21. The firm’s fifty day moving average price is $48.86 and its 200-day moving average price is $45.51.

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

CSX Announces Dividend

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

Insider Activity at CSX

In related news, Director John Zillmer sold 19,500 shares of the company’s stock in a transaction that occurred on Monday, October 26th. The shares were sold at an average price of $51.24, for a total value of $999,180.00. Following the transaction, the director directly owned 334,214 shares in the company, valued at approximately $17,125,125.36. This represents a 5.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Stephens initiated coverage on shares of CSX in a research report on Wednesday, July 8th. They set an “overweight” rating and a $57.00 price target on the stock. Wells Fargo & Company boosted their price objective on CSX from $50.00 to $54.00 and gave the stock an “overweight” rating in a report on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $59.00 price objective on shares of CSX in a research report on Friday, July 24th. Citigroup reissued a “neutral” rating and set a $54.00 target price (up from $53.00) on shares of CSX in a research report on Friday, October 23rd. Finally, Citizens Jmp initiated coverage on shares of CSX in a research note on Wednesday, July 15th. They issued a “market perform” rating for the company. Eighteen 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’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $52.20.

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.