Sound Shore Management Inc. CT Decreases Stake in CSX Corporation $CSX

Sound Shore Management Inc. CT cut its stake in shares of CSX Corporation (NASDAQ:CSX) by 16.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,002,159 shares of the transportation company’s stock after selling 399,715 shares during the period. CSX comprises approximately 2.8% of Sound Shore Management Inc. CT’s investment portfolio, making the stock its 10th biggest position. Sound Shore Management Inc. CT owned approximately 0.11% of CSX worth $82,189,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. FNY Investment Advisers LLC grew its position in CSX by 437.3% during the 3rd quarter. FNY Investment Advisers LLC now owns 720 shares of the transportation company’s stock worth $25,000 after acquiring an additional 586 shares during the last quarter. WFA of San Diego LLC bought a new position in CSX in the second quarter valued at about $28,000. CrossGen Wealth LLC bought a new position in CSX in the fourth quarter valued at about $54,000. Valley Wealth Managers Inc. boosted its stake in shares of CSX by 120.0% during the first quarter. Valley Wealth Managers Inc. now owns 1,650 shares of the transportation company’s stock valued at $68,000 after purchasing an additional 900 shares in the last quarter. Finally, Aventura Private Wealth LLC acquired a new stake in shares of CSX during the fourth quarter valued at about $63,000. 73.57% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other CSX news, CFO Kevin S. Boone sold 136,708 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $46.70, for a total transaction of $6,384,263.60. Following the transaction, the chief financial officer directly owned 208,622 shares in the company, valued at approximately $9,742,647.40. This represents a 39.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John J. Zillmer sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $46.45, for a total transaction of $464,500.00. Following the sale, the director directly owned 353,714 shares of the company’s stock, valued at approximately $16,430,015.30. This trade represents a 2.75% decrease in their position. The SEC filing for this sale provides additional information. 0.30% of the stock is currently owned by corporate insiders.

CSX Stock Performance

Shares of CSX stock opened at $50.75 on Monday. The business has a 50-day moving average price of $47.09 and a two-hundred day moving average price of $42.68. CSX Corporation has a 1-year low of $31.80 and a 1-year high of $51.29. The company has a current ratio of 0.97, a quick ratio of 0.83 and a debt-to-equity ratio of 1.34. The company has a market cap of $94.30 billion, a P/E ratio of 31.13, a PEG ratio of 2.51 and a beta of 1.21.

CSX (NASDAQ:CSX) last announced its earnings results on Wednesday, April 22nd. The transportation company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.39 by $0.04. CSX had a return on equity of 24.47% and a net margin of 21.55%.The company had revenue of $3.48 billion for the quarter, compared to analyst estimates of $3.50 billion. During the same quarter in the prior year, the company earned $0.34 EPS. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. As a group, analysts anticipate that CSX Corporation will post 1.92 EPS for the current year.

CSX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be paid a $0.14 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $0.56 annualized dividend and a yield of 1.1%. CSX’s payout ratio is 34.36%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CSX shares. Raymond James Financial reaffirmed an “outperform” rating and issued a $56.00 price objective on shares of CSX in a research note on Monday, July 13th. Bank of America reissued a “buy” rating and set a $53.00 target price (up from $51.00) on shares of CSX in a report on Wednesday, June 17th. TD Cowen upped their price target on shares of CSX from $45.00 to $46.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Citizens Jmp began coverage on shares of CSX in a research note on Wednesday, July 15th. They set a “market perform” rating for the company. Finally, Jefferies Financial Group lifted their price target on shares of CSX from $50.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. Seventeen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $49.33.

More CSX News

Here are the key news stories impacting CSX this week:

• Positive Sentiment: CSX approved a $0.14 quarterly dividend, reinforcing its shareholder-return policy and suggesting the company remains confident in its cash flow and financial stability. CSX Corporation Declares Quarterly Dividend
• Neutral Sentiment: CSX’s latest dividend announcement adds no new operational guidance, so investors may view it as confirmation of business as usual rather than a major growth catalyst. CSX Corporation Declares Quarterly Dividend
• Negative Sentiment: Broader headlines around a derailment cleanup, rail-crossing closures, and a fatal train incident could create some near-term reputational pressure, though these items appear more operational and local than financially material. Richmond CSX derailment cleanup complete; Capital Trail section remains closed

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.