Shikiar Asset Management Inc. Takes $2.48 Million Position in CSX Co. (NASDAQ:CSX)

Shikiar Asset Management Inc. acquired a new stake in shares of CSX Co. (NASDAQ:CSXGet Rating) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 66,185 shares of the transportation company’s stock, valued at approximately $2,479,000.

Other large investors have also recently modified their holdings of the company. Kestra Private Wealth Services LLC raised its stake in shares of CSX by 4.3% during the fourth quarter. Kestra Private Wealth Services LLC now owns 42,841 shares of the transportation company’s stock valued at $1,611,000 after acquiring an additional 1,771 shares during the last quarter. Crossmark Global Holdings Inc. raised its stake in shares of CSX by 2.1% during the fourth quarter. Crossmark Global Holdings Inc. now owns 195,676 shares of the transportation company’s stock valued at $7,357,000 after acquiring an additional 4,069 shares during the last quarter. Gyon Technologies Capital Management LP raised its stake in shares of CSX by 89.9% during the third quarter. Gyon Technologies Capital Management LP now owns 80,966 shares of the transportation company’s stock valued at $2,408,000 after acquiring an additional 38,325 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in shares of CSX by 2.4% during the fourth quarter. Thrivent Financial for Lutherans now owns 1,858,620 shares of the transportation company’s stock valued at $69,722,000 after acquiring an additional 43,570 shares during the last quarter. Finally, Central Bank & Trust Co. raised its stake in shares of CSX by 614.0% during the fourth quarter. Central Bank & Trust Co. now owns 58,909 shares of the transportation company’s stock valued at $2,214,000 after acquiring an additional 50,659 shares during the last quarter. 74.81% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:CSX opened at $28.83 on Thursday. CSX Co. has a 52 week low of $28.50 and a 52 week high of $38.63. The company has a quick ratio of 1.32, a current ratio of 1.46 and a debt-to-equity ratio of 1.21. The company’s 50 day moving average price is $32.57 and its 200-day moving average price is $34.55. The stock has a market cap of $62.68 billion, a price-to-earnings ratio of 16.38, a PEG ratio of 1.56 and a beta of 1.22.

CSX (NASDAQ:CSXGet Rating) last issued its earnings results on Wednesday, April 20th. The transportation company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.01. CSX had a net margin of 29.98% and a return on equity of 27.47%. The company had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.31 billion. During the same quarter last year, the company posted $0.31 earnings per share. The firm’s quarterly revenue was up 21.3% on a year-over-year basis. As a group, sell-side analysts anticipate that CSX Co. will post 1.83 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 15th. Investors of record on Tuesday, May 31st were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.39%. The ex-dividend date was Friday, May 27th. CSX’s dividend payout ratio is currently 22.73%.

In other CSX news, Director John J. Zillmer sold 16,000 shares of the stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $32.25, for a total value of $516,000.00. Following the transaction, the director now directly owns 320,763 shares in the company, valued at $10,344,606.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.37% of the company’s stock.

A number of research firms recently issued reports on CSX. Royal Bank of Canada raised shares of CSX from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $37.00 to $39.00 in a research note on Thursday, March 17th. Susquehanna Bancshares increased their price target on shares of CSX from $44.00 to $45.00 and gave the stock a “positive” rating in a research note on Thursday, April 21st. Susquehanna increased their price target on shares of CSX from $44.00 to $45.00 and gave the stock a “positive” rating in a research note on Thursday, April 21st. Argus increased their price target on shares of CSX from $39.00 to $41.00 in a research note on Friday, April 22nd. Finally, Raymond James decreased their price target on shares of CSX from $40.00 to $39.00 and set an “outperform” rating for the company in a research note on Monday, April 18th. One analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $38.76.

CSX Company Profile (Get Rating)

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services; and transportation of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations. It transports chemicals, agricultural and food products, automotive, minerals, forest products, fertilizers, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants, as well as exports coal to deep-water port facilities.

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Institutional Ownership by Quarter for CSX (NASDAQ:CSX)

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