Thoroughbred Financial Services LLC increased its position in CSX Co. (NASDAQ:CSX) by 9,526.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 398,061 shares of the transportation company’s stock after acquiring an additional 393,926 shares during the period. Thoroughbred Financial Services LLC’s holdings in CSX were worth $39,806,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank bought a new stake in CSX during the fourth quarter valued at about $463,481,000. FMR LLC boosted its stake in shares of CSX by 14.1% in the fourth quarter. FMR LLC now owns 23,161,058 shares of the transportation company’s stock worth $1,438,997,000 after acquiring an additional 2,867,186 shares during the period. Impala Asset Management LLC bought a new position in shares of CSX in the first quarter worth about $88,463,000. Magellan Asset Management Ltd bought a new position in shares of CSX in the first quarter worth about $73,749,000. Finally, Geode Capital Management LLC boosted its stake in shares of CSX by 6.6% in the fourth quarter. Geode Capital Management LLC now owns 10,386,802 shares of the transportation company’s stock worth $644,194,000 after acquiring an additional 646,745 shares during the period. 75.74% of the stock is owned by institutional investors.
CSX stock traded up $0.11 during midday trading on Friday, reaching $69.61. 406,951 shares of the company traded hands, compared to its average volume of 6,059,279. CSX Co. has a 52-week low of $58.47 and a 52-week high of $80.73. The company has a quick ratio of 1.44, a current ratio of 1.55 and a debt-to-equity ratio of 1.26. The stock’s 50 day simple moving average is $76.56. The firm has a market cap of $55.25 billion, a price-to-earnings ratio of 18.13, a price-to-earnings-growth ratio of 1.20 and a beta of 1.22.
CSX (NASDAQ:CSX) last issued its quarterly earnings data on Tuesday, July 16th. The transportation company reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.03). CSX had a net margin of 27.87% and a return on equity of 26.96%. The company had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.14 billion. During the same quarter last year, the company earned $1.01 earnings per share. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. As a group, equities research analysts forecast that CSX Co. will post 4.15 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $0.96 annualized dividend and a dividend yield of 1.38%. CSX’s payout ratio is 25.00%.
In other news, EVP Nathan D. Goldman sold 7,000 shares of the stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $79.50, for a total value of $556,500.00. Following the sale, the executive vice president now directly owns 79,697 shares in the company, valued at $6,335,911.50. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 4.83% of the company’s stock.
A number of equities analysts have recently weighed in on CSX shares. TD Securities lowered Turquoise Hill Resources from a “buy” rating to a “speculative buy” rating and dropped their price objective for the stock from C$4.00 to C$2.25 in a research note on Wednesday, July 17th. BMO Capital Markets started coverage on Yelp in a research note on Wednesday, April 17th. They issued an “outperform” rating for the company. Citigroup set a $20.00 price objective on Compania de Minas Buenaventura SAA and gave the stock a “buy” rating in a research note on Thursday, April 4th. Zacks Investment Research raised Flagstar Bancorp from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a research note on Monday, July 8th. Finally, Deutsche Bank raised CYBERAGENT INC/ADR from a “hold” rating to a “buy” rating in a research note on Wednesday, June 12th. Three investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $78.68.
CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services, as well as transports intermodal containers and trailers. It transports chemicals, automotive, agricultural and food products, minerals, fertilizers, forest products, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.
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