Jacobs & Co. CA Has $8.38 Million Stake in CSX Corporation $CSX

Jacobs & Co. CA reduced its stake in shares of CSX Corporation (NASDAQ:CSX) by 42.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 231,307 shares of the transportation company’s stock after selling 172,530 shares during the quarter. Jacobs & Co. CA’s holdings in CSX were worth $8,384,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of CSX. Strengthening Families & Communities LLC acquired a new stake in shares of CSX in the 3rd quarter valued at approximately $2,199,000. Rathbones Group PLC grew its holdings in CSX by 20.6% during the third quarter. Rathbones Group PLC now owns 207,454 shares of the transportation company’s stock valued at $7,367,000 after purchasing an additional 35,403 shares during the period. Canada Post Corp Registered Pension Plan increased its stake in CSX by 131.0% in the third quarter. Canada Post Corp Registered Pension Plan now owns 71,918 shares of the transportation company’s stock valued at $2,577,000 after purchasing an additional 40,780 shares in the last quarter. Allstate Corp bought a new stake in CSX in the third quarter valued at approximately $2,363,000. Finally, Cbre Investment Management Listed Real Assets LLC increased its stake in CSX by 81.9% in the third quarter. Cbre Investment Management Listed Real Assets LLC now owns 944,946 shares of the transportation company’s stock valued at $33,555,000 after purchasing an additional 425,395 shares in the last quarter. 73.57% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Stephen Fortune sold 31,456 shares of the stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $38.65, for a total transaction of $1,215,774.40. Following the completion of the transaction, the executive vice president directly owned 82,034 shares in the company, valued at approximately $3,170,614.10. This trade represents a 27.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Diana B. Sorfleet sold 90,000 shares of CSX stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $41.56, for a total transaction of $3,740,400.00. Following the completion of the sale, the chief accounting officer owned 165,613 shares in the company, valued at $6,882,876.28. This trade represents a 35.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 188,123 shares of company stock worth $7,454,854. 0.55% of the stock is owned by corporate insiders.

CSX Trading Down 1.7%

Shares of NASDAQ:CSX opened at $39.64 on Thursday. The firm has a market cap of $73.71 billion, a price-to-earnings ratio of 25.74, a PEG ratio of 2.06 and a beta of 1.27. CSX Corporation has a 12 month low of $26.22 and a 12 month high of $43.35. The company’s fifty day simple moving average is $39.41 and its 200 day simple moving average is $36.65. The company has a quick ratio of 0.69, a current ratio of 0.81 and a debt-to-equity ratio of 1.38.

CSX (NASDAQ:CSX) last announced its earnings results on Thursday, January 22nd. The transportation company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). The company had revenue of $3.51 billion during the quarter, compared to analyst estimates of $3.59 billion. CSX had a return on equity of 23.88% and a net margin of 20.50%.CSX’s revenue for the quarter was down .9% on a year-over-year basis. During the same period in the previous year, the company posted $0.42 earnings per share. As a group, research analysts forecast that CSX Corporation will post 1.83 EPS for the current fiscal year.

CSX Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 27th were given a dividend of $0.14 per share. This is an increase from CSX’s previous quarterly dividend of $0.13. This represents a $0.56 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Friday, February 27th. CSX’s payout ratio is currently 36.36%.

Analyst Ratings Changes

CSX has been the topic of a number of recent analyst reports. Morgan Stanley set a $30.00 price target on shares of CSX and gave the stock an “equal weight” rating in a research report on Monday, December 8th. Jefferies Financial Group lifted their target price on CSX from $42.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, March 3rd. Sanford C. Bernstein reissued a “market perform” rating and issued a $36.00 target price (down from $37.00) on shares of CSX in a research note on Friday, January 23rd. Raymond James Financial increased their price target on CSX from $40.00 to $41.00 and gave the stock an “outperform” rating in a report on Friday, January 23rd. Finally, Argus raised their price target on CSX from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Tuesday, January 27th. Nineteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, CSX presently has an average rating of “Moderate Buy” and a consensus target price of $40.44.

About CSX

CSX Corporation is a leading North American transportation company that provides rail-based freight services and supply-chain solutions. Its operating subsidiary, CSX Transportation, moves a wide range of goods for customers across multiple industries, using a combination of long-haul rail service, intermodal operations and terminal and yard services. The company focuses on delivering efficient, reliable freight transportation between major production centers, consumption markets and port gateways.

CSX’s freight portfolio includes intermodal containers and trailers, bulk commodities, industrial products and specialized unit trains.