3,937,983 Shares in CSX Corporation $CSX Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC acquired a new position in CSX Corporation (NASDAQ:CSX) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,937,983 shares of the transportation company’s stock, valued at approximately $187,202,000. Hsbc Holdings PLC owned about 0.21% of CSX as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of CSX. Arlington Trust Co LLC boosted its position in CSX by 58.0% during the 2nd quarter. Arlington Trust Co LLC now owns 681 shares of the transportation company’s stock valued at $32,000 after buying an additional 250 shares during the period. Syon Capital LLC boosted its holdings in shares of CSX by 1.0% during the 4th quarter. Syon Capital LLC now owns 28,316 shares of the transportation company’s stock valued at $1,026,000 after buying an additional 287 shares in the last quarter. Root Financial Partners LLC grew its holdings in CSX by 7.3% in the fourth quarter. Root Financial Partners LLC now owns 4,757 shares of the transportation company’s stock worth $172,000 after purchasing an additional 323 shares during the period. Walled Lake Planning & Wealth Management LLC grew its stake in shares of CSX by 2.7% in the 4th quarter. Walled Lake Planning & Wealth Management LLC now owns 13,235 shares of the transportation company’s stock worth $480,000 after buying an additional 346 shares during the last quarter. Finally, Sumitomo Life Insurance Co. grew its stake in shares of CSX by 0.9% in the fourth quarter. Sumitomo Life Insurance Co. now owns 39,996 shares of the transportation company’s stock worth $1,450,000 after acquiring an additional 347 shares during the last quarter. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $59.00 price target on shares of CSX in a research note on Friday, July 24th. Wall Street Zen lowered shares of CSX from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Wells Fargo & Company increased their price objective on shares of CSX from $50.00 to $54.00 and gave the company an “overweight” rating in a research report on Wednesday, July 8th. Bank of America raised their target price on shares of CSX from $53.00 to $56.00 and gave the stock a “buy” rating in a report on Thursday, July 23rd. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $54.00 target price (up from $51.00) on shares of CSX in a research report on Thursday, July 23rd. Eighteen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, CSX presently has an average rating of “Moderate Buy” and an average target price of $51.31.

Insider Activity

In other CSX news, Director John J. Zillmer sold 10,000 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $46.45, for a total value of $464,500.00. Following the completion of the sale, the director owned 353,714 shares in the company, valued at approximately $16,430,015.30. This represents a 2.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Kevin S. Boone sold 136,708 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $46.70, for a total value of $6,384,263.60. Following the sale, 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 ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 189,708 shares of company stock valued at $9,132,304. 0.30% of the stock is currently owned by company insiders.

CSX Trading Up 0.1%

CSX stock opened at $51.51 on Wednesday. CSX Corporation has a 52-week low of $31.80 and a 52-week high of $53.60. The company has a market cap of $95.42 billion, a P/E ratio of 29.77, a P/E/G ratio of 2.35 and a beta of 1.21. The company has a quick ratio of 0.72, a current ratio of 0.82 and a debt-to-equity ratio of 1.22. The business has a 50-day simple moving average of $49.55 and a two-hundred day simple moving average of $45.37.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. The company had revenue of $3.94 billion for the quarter, compared to the consensus estimate of $3.89 billion. CSX had a net margin of 22.21% and a return on equity of 24.98%. The firm’s revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.44 earnings per share. Analysts predict that CSX Corporation will post 2 EPS for the current year.

CSX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be issued 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, August 31st. CSX’s dividend payout ratio is currently 32.37%.

CSX Profile

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.