184,376 CSX Corporation $CSX Shares Sold by M&G PLC

M&G PLC trimmed its position in shares of CSX Corporation (NASDAQ:CSX) by 6.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,749,289 shares of the transportation company’s stock after selling 184,376 shares during the period. M&G PLC owned approximately 0.15% of CSX worth $129,217,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Virtue Capital Management LLC increased its holdings in shares of CSX by 1.6% in the 3rd quarter. Virtue Capital Management LLC now owns 12,545 shares of the transportation company’s stock worth $583,000 after buying an additional 201 shares during the last quarter. Washington Trust Advisors Inc. grew its position in CSX by 7.2% in the second quarter. Washington Trust Advisors Inc. now owns 3,142 shares of the transportation company’s stock worth $149,000 after acquiring an additional 211 shares in the last quarter. CHICAGO TRUST Co NA grew its position in CSX by 0.7% in the third quarter. CHICAGO TRUST Co NA now owns 31,606 shares of the transportation company’s stock worth $1,470,000 after acquiring an additional 211 shares in the last quarter. Covestor Ltd increased its stake in CSX by 51.7% during the third quarter. Covestor Ltd now owns 619 shares of the transportation company’s stock worth $29,000 after acquiring an additional 211 shares during the last quarter. Finally, BLB&B Advisors LLC increased its stake in CSX by 0.7% during the third quarter. BLB&B Advisors LLC now owns 30,452 shares of the transportation company’s stock worth $1,416,000 after acquiring an additional 215 shares during the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.

CSX Stock Up 2.8%

Shares of NASDAQ:CSX opened at $50.48 on Tuesday. The firm has a market capitalization of $93.05 billion, a PE ratio of 26.16, a price-to-earnings-growth ratio of 2.28 and a beta of 1.12. The business has a 50 day simple moving average of $48.77 and a two-hundred day simple moving average of $45.96. CSX Corporation has a 1 year low of $33.63 and a 1 year high of $53.60. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.84 and a quick ratio of 0.75.

CSX (NASDAQ:CSX) last issued its quarterly 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. CSX had a return on equity of 25.94% and a net margin of 23.97%. The firm had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.96 billion. During the same period in the prior year, the business posted $0.44 earnings per share. The company’s revenue for the quarter was up 12.0% on a year-over-year basis. On average, equities analysts predict that CSX Corporation will post 2.05 EPS for the current year.

CSX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders 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 dividend payout ratio is 29.02%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Stifel Nicolaus set a $54.00 target price on CSX in a research report on Thursday, July 23rd. JPMorgan Chase & Co. raised their price target on CSX from $57.00 to $58.00 and gave the stock an “overweight” rating in a research report on Thursday, October 22nd. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $54.00 price objective (up from $53.00) on shares of CSX in a research note on Thursday, October 22nd. Argus set a $56.00 price objective on shares of CSX in a research report on Friday, July 31st. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $59.00 price objective on shares of CSX in a research report on Friday, July 24th. Eighteen research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $52.20.

Insider Buying and Selling

In other CSX news, Director John Zillmer sold 19,500 shares of the stock in a transaction on Monday, October 26th. The stock was sold at an average price of $51.24, for a total value of $999,180.00. Following the sale, the director owned 334,214 shares in the company, valued at $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 SEC, which is available at this hyperlink. 0.30% of the stock is owned by company insiders.

CSX Company Profile

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.

The company was formed in 1980 through the merger of Chessie System and Seaboard Coast Line Industries, combining railroads with histories dating to the 19th century.