IFM Investors Pty Ltd boosted its stake in CSX Co. (NASDAQ:CSX – Get Rating) by 124.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 645,326 shares of the transportation company’s stock after purchasing an additional 357,299 shares during the quarter. IFM Investors Pty Ltd’s holdings in CSX were worth $24,167,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also added to or reduced their stakes in the stock. Life Planning Partners Inc bought a new stake in shares of CSX during the 4th quarter valued at about $29,000. Capital Advisors Ltd. LLC bought a new stake in shares of CSX during the 4th quarter valued at about $34,000. American National Bank boosted its position in shares of CSX by 35.9% during the 1st quarter. American National Bank now owns 1,101 shares of the transportation company’s stock valued at $41,000 after acquiring an additional 291 shares during the last quarter. Leverty Financial Group LLC bought a new stake in shares of CSX during the 4th quarter valued at about $53,000. Finally, Cassady Schiller Wealth Management LLC bought a new stake in shares of CSX during the 4th quarter valued at about $54,000. Institutional investors own 74.81% of the company’s stock.
CSX Trading Up 2.0 %
NASDAQ CSX opened at $32.33 on Monday. The company has a quick ratio of 1.01, a current ratio of 1.16 and a debt-to-equity ratio of 1.22. CSX Co. has a twelve month low of $27.59 and a twelve month high of $38.63. The firm has a market capitalization of $69.23 billion, a PE ratio of 18.16, a P/E/G ratio of 1.64 and a beta of 1.21. The stock’s 50 day moving average is $30.17 and its 200 day moving average is $33.16.
CSX Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Wednesday, August 31st will be given a dividend of $0.10 per share. The ex-dividend date is Tuesday, August 30th. This represents a $0.40 annualized dividend and a dividend yield of 1.24%. CSX’s dividend payout ratio is presently 22.47%.
Insider Activity at CSX
In other CSX news, Director John J. Zillmer sold 16,000 shares of the business’s stock in a transaction on Monday, June 6th. The stock was sold at an average price of $32.25, for a total value of $516,000.00. Following the sale, the director now directly owns 320,763 shares of the company’s stock, valued at $10,344,606.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.37% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
A number of analysts have recently issued reports on CSX shares. Wells Fargo & Company dropped their price target on CSX from $37.00 to $30.00 and set an “equal weight” rating for the company in a research report on Friday, July 15th. Barclays raised their price objective on CSX from $39.00 to $40.00 and gave the company an “overweight” rating in a report on Thursday, July 21st. Cowen decreased their price objective on CSX from $39.00 to $37.00 and set a “market perform” rating on the stock in a report on Thursday, July 21st. UBS Group decreased their price objective on CSX to $38.00 in a report on Friday, July 22nd. Finally, Raymond James decreased their price objective on CSX from $40.00 to $35.00 and set an “outperform” rating on the stock in a report on Friday, July 8th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $36.52.
CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services; and transportation of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations. It transports chemicals, agricultural and food products, automotive, minerals, forest products, fertilizers, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants, as well as exports coal to deep-water port facilities.
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