Maj Invest Holding A S Sells 1,059,954 Shares of CSX Corporation $CSX

Maj Invest Holding A S reduced its holdings in CSX Corporation (NASDAQ:CSX) by 29.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,526,725 shares of the transportation company’s stock after selling 1,059,954 shares during the quarter. CSX makes up 5.5% of Maj Invest Holding A S’s portfolio, making the stock its 9th biggest holding. Maj Invest Holding A S owned approximately 0.14% of CSX worth $120,097,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Archer Investment Corp purchased a new stake in CSX in the 2nd quarter valued at about $26,000. N.E.W. Advisory Services LLC acquired a new stake in shares of CSX in the second quarter worth approximately $27,000. WFA of San Diego LLC acquired a new stake in shares of CSX in the second quarter worth approximately $28,000. Pin Oak Investment Advisors Inc. purchased a new stake in CSX in the second quarter valued at approximately $29,000. Finally, Manning & Napier Advisors LLC purchased a new stake in CSX in the second quarter valued at approximately $30,000. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CSX has been the topic of a number of recent analyst reports. Wall Street Zen downgraded shares of CSX from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Morgan Stanley set a $32.00 price objective on shares of CSX and gave the company an “underweight” rating in a research note on Monday, July 6th. Robert W. Baird upped their price objective on CSX from $49.00 to $53.00 and gave the stock an “outperform” rating in a report on Tuesday, July 7th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $52.00 target price (up from $49.00) on shares of CSX in a research report on Thursday, July 23rd. Finally, JPMorgan Chase & Co. lifted their target price on CSX from $56.00 to $58.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. Eighteen equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, CSX currently has an average rating of “Moderate Buy” and an average price target of $51.31.

Insider Activity

In other CSX news, SVP Michael S. Burns sold 13,000 shares of the firm’s stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $52.68, for a total value of $684,840.00. Following the transaction, the senior vice president directly owned 59,643 shares of the company’s stock, valued at $3,141,993.24. This trade represents a 17.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Angela C. Williams sold 30,000 shares of the business’s stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $53.29, for a total value of $1,598,700.00. Following the transaction, the chief accounting officer owned 10,437 shares in the company, valued at approximately $556,187.73. This represents a 74.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.30% of the company’s stock.

CSX Price Performance

CSX opened at $48.70 on Wednesday. The company has a quick ratio of 0.72, a current ratio of 0.82 and a debt-to-equity ratio of 1.22. CSX Corporation has a 52-week low of $31.80 and a 52-week high of $53.60. The company has a 50 day moving average of $50.05 and a two-hundred day moving average of $45.72. The company has a market cap of $90.22 billion, a P/E ratio of 28.15, a P/E/G ratio of 2.38 and a beta of 1.21.

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

CSX Dividend Announcement

The business also recently declared 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 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.