Mirae Asset Global Investments Co. Ltd. Purchases New Holdings in CSX Corporation $CSX

Mirae Asset Global Investments Co. Ltd. purchased a new stake in CSX Corporation (NASDAQ:CSX) in the 3rd quarter, HoldingsChannel reports. The fund purchased 1,317,460 shares of the transportation company’s stock, valued at approximately $61,275,000.

Several other institutional investors and hedge funds have also recently modified their holdings of CSX. ProShare Advisors LLC grew its stake in shares of CSX by 6.0% in the 3rd quarter. ProShare Advisors LLC now owns 2,139,175 shares of the transportation company’s stock worth $99,493,000 after acquiring an additional 120,646 shares in the last quarter. Vise Technologies Inc. grew its holdings in CSX by 58.2% during the third quarter. Vise Technologies Inc. now owns 93,254 shares of the transportation company’s stock valued at $4,337,000 after purchasing an additional 34,315 shares during the period. Investment Partners LTD. purchased a new stake in CSX in the third quarter worth $529,000. MGO One Seven LLC increased its stake in shares of CSX by 13.0% in the third quarter. MGO One Seven LLC now owns 43,070 shares of the transportation company’s stock worth $2,003,000 after purchasing an additional 4,959 shares in the last quarter. Finally, Americana Partners LLC raised its position in shares of CSX by 1.4% in the third quarter. Americana Partners LLC now owns 24,581 shares of the transportation company’s stock valued at $1,143,000 after purchasing an additional 344 shares during the period. 73.57% of the stock is owned by hedge funds and other institutional investors.

CSX Stock Performance

CSX stock opened at $51.99 on Monday. The company has a market capitalization of $95.84 billion, a PE ratio of 26.94, a P/E/G ratio of 2.29 and a beta of 1.21. CSX Corporation has a twelve month low of $33.63 and a twelve month high of $53.60. The company has a quick ratio of 0.75, a current ratio of 0.84 and a debt-to-equity ratio of 1.19. The firm has a fifty day simple moving average of $48.86 and a two-hundred day simple moving average of $45.51.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Wednesday, October 21st. The transportation company reported $0.57 EPS for the quarter, beating 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 business had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.96 billion. During the same quarter in the prior year, the company posted $0.44 EPS. CSX’s quarterly revenue was up 12.0% compared to the same quarter last year. Research analysts expect that CSX Corporation will post 2.04 EPS for the current year.

CSX Announces Dividend

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

Insider Buying and Selling at CSX

In other news, Director John Zillmer sold 19,500 shares of CSX stock in a transaction that occurred on Monday, October 26th. The shares were sold at an average price of $51.24, for a total transaction of $999,180.00. Following the completion of the transaction, the director directly owned 334,214 shares in the company, valued at approximately $17,125,125.36. This trade 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. Corporate insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

CSX has been the subject of several analyst reports. Weiss Ratings raised shares of CSX from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday. Evercore set a $53.00 price objective on shares of CSX in a research note on Friday, October 23rd. Morgan Stanley set a $32.00 target price on shares of CSX and gave the company an “underweight” rating in a report on Monday, July 6th. Citizens Jmp began coverage on CSX in a research report on Wednesday, July 15th. They set a “market perform” rating on the stock. Finally, Truist Financial set a $46.00 price target on CSX in a report on Friday, July 10th. Eighteen research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $52.20.

About CSX

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.