Utah Retirement Systems increased its stake in CSX Corporation (NASDAQ:CSX) by 0.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 174,797 shares of the transportation company’s stock after buying an additional 100 shares during the period. Utah Retirement Systems’ holdings in CSX Corporation were worth $8,137,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in the company. Paragon Capital Management Ltd bought a new stake in shares of CSX Corporation during the first quarter valued at $9,357,000. United Services Automobile Association increased its stake in shares of CSX Corporation by 20.9% in the first quarter. United Services Automobile Association now owns 573,690 shares of the transportation company’s stock valued at $26,705,000 after buying an additional 99,118 shares in the last quarter. State of Alaska Department of Revenue bought a new stake in shares of CSX Corporation during the first quarter valued at $375,000. ClariVest Asset Management LLC bought a new stake in shares of CSX Corporation during the first quarter valued at $13,531,000. Finally, Stratos Wealth Partners LTD. increased its stake in shares of CSX Corporation by 10.6% in the first quarter. Stratos Wealth Partners LTD. now owns 13,720 shares of the transportation company’s stock valued at $639,000 after buying an additional 1,316 shares in the last quarter. 70.02% of the stock is currently owned by institutional investors.
CSX Corporation (CSX) traded up 1.05% during mid-day trading on Tuesday, reaching $50.14. 7,443,222 shares of the company traded hands. CSX Corporation has a 52-week low of $27.82 and a 52-week high of $55.48. The stock has a 50-day moving average of $52.99 and a 200 day moving average of $49.96. The stock has a market capitalization of $45.79 billion, a PE ratio of 26.22 and a beta of 1.30.
CSX Corporation (NASDAQ:CSX) last posted its quarterly earnings results on Tuesday, July 18th. The transportation company reported $0.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.05. The company had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.85 billion. CSX Corporation had a net margin of 15.46% and a return on equity of 16.93%. CSX Corporation’s revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.47 earnings per share. Equities research analysts expect that CSX Corporation will post $2.30 earnings per share for the current year.
CSX Corporation declared that its Board of Directors has approved a share buyback plan on Thursday, April 20th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the transportation company to reacquire up to 2.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date is Tuesday, August 29th. CSX Corporation’s dividend payout ratio is currently 41.88%.
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A number of research firms have recently commented on CSX. UBS AG upgraded CSX Corporation from a “market perform” rating to an “outperform” rating in a research report on Friday, April 21st. J P Morgan Chase & Co dropped their target price on CSX Corporation from $60.00 to $58.00 and set an “overweight” rating on the stock in a research report on Thursday, July 20th. Zacks Investment Research cut CSX Corporation from a “buy” rating to a “hold” rating in a research report on Friday, July 21st. BidaskClub cut CSX Corporation from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 19th. Finally, TD Securities dropped their target price on CSX Corporation from $64.00 to $63.00 and set a “buy” rating on the stock in a research report on Thursday, July 20th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nineteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $53.74.
In other CSX Corporation news, Director Ridge Lp Mantle bought 1,357,000 shares of the business’s stock in a transaction dated Friday, July 21st. The shares were acquired at an average price of $51.59 per share, with a total value of $70,007,630.00. Following the purchase, the director now owns 106 shares in the company, valued at approximately $5,468.54. The purchase was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 4.79% of the company’s stock.
CSX Corporation Company Profile
CSX Corporation is a transportation company. The Company provides rail-based freight transportation services, including traditional rail service and transport of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations.
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