CSX Corporation $CSX Stock: Fifth Third Bancorp Lowers Stake

Fifth Third Bancorp cut its position in CSX Corporation (NASDAQ:CSX) by 8.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 578,227 shares of the transportation company’s stock after selling 50,277 shares during the quarter. Fifth Third Bancorp’s holdings in CSX were worth $26,893,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Maryland State Retirement & Pension System boosted its stake in CSX by 15.1% during the 3rd quarter. Maryland State Retirement & Pension System now owns 114,982 shares of the transportation company’s stock valued at $5,348,000 after purchasing an additional 15,048 shares in the last quarter. Ritholtz Wealth Management lifted its holdings in shares of CSX by 1.6% in the third quarter. Ritholtz Wealth Management now owns 101,551 shares of the transportation company’s stock valued at $4,723,000 after purchasing an additional 1,568 shares in the last quarter. Joel Isaacson & Co. LLC grew its stake in CSX by 5.7% during the 3rd quarter. Joel Isaacson & Co. LLC now owns 16,834 shares of the transportation company’s stock valued at $783,000 after acquiring an additional 914 shares in the last quarter. First Command Advisory Services Inc. boosted its stake in shares of CSX by 55.9% during the 3rd quarter. First Command Advisory Services Inc. now owns 19,932 shares of the transportation company’s stock valued at $927,000 after buying an additional 7,144 shares during the period. Finally, Silver Grove Financial Group Inc. grew its stake in CSX by 16.2% in the third quarter. Silver Grove Financial Group Inc. now owns 2,812 shares of the transportation company’s stock valued at $131,000 after purchasing an additional 392 shares in the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Price Performance

CSX stock opened at $52.05 on Friday. CSX Corporation has a 1 year low of $33.63 and a 1 year 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 $95.95 billion, a P/E ratio of 26.97, a PEG ratio of 2.29 and a beta of 1.12. The business has a 50-day moving average of $48.99 and a 200-day moving average of $46.26.

CSX (NASDAQ:CSX) last posted its earnings results on Wednesday, October 21st. The transportation company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.04. The company had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.96 billion. CSX had a net margin of 23.97% and a return on equity of 25.94%. The business’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period last year, the business posted $0.44 earnings per share. On average, equities analysts anticipate that CSX Corporation will post 2.06 EPS for the current year.

CSX Announces Dividend

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

Insider Activity at CSX

In other news, Director John Zillmer sold 19,500 shares of the company’s stock in a transaction dated Monday, October 26th. The stock was 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 of the company’s stock, valued at $17,125,125.36. This represents a 5.51% 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. 0.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CSX. Evercore set a $53.00 price target on shares of CSX in a report on Friday, October 23rd. Deutsche Bank restated a “buy” rating and set a $59.00 price objective on shares of CSX in a report on Friday, July 24th. Argus set a $56.00 price target on shares of CSX in a report on Friday, July 31st. Susquehanna boosted their target price on shares of CSX from $55.00 to $60.00 and gave the company a “positive” rating in a research note on Tuesday, October 27th. Finally, Weiss Ratings upgraded CSX from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, October 29th. 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 stock. Based on data from MarketBeat.com, CSX presently has a consensus rating of “Moderate Buy” and an average target price of $52.20.

About CSX

CSX Corporation is a freight transportation company that operates one of the largest rail networks in the eastern United States. Its rail system serves customers across much of the eastern U.S., as well as parts of Canada, and connects with other railroads and ports. CSX transports a broad range of goods, including chemicals, agricultural and food products, automobiles, minerals, forest products, coal and intermodal freight. Its services include rail transportation, intermodal shipping that combines rail and truck transport, and related logistics and supply-chain services.