CSX Corporation $CSX Stock Position Lifted by Chapin Davis Inc.

Chapin Davis Inc. raised its stake in CSX Corporation (NASDAQ:CSX) by 162.7% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 115,526 shares of the transportation company’s stock after purchasing an additional 71,556 shares during the quarter. CSX makes up 1.1% of Chapin Davis Inc.’s holdings, making the stock its 23rd largest position. Chapin Davis Inc.’s holdings in CSX were worth $5,373,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of CSX. Acropolis Investment Management LLC raised its holdings in shares of CSX by 2.6% during the third quarter. Acropolis Investment Management LLC now owns 20,944 shares of the transportation company’s stock worth $974,000 after acquiring an additional 521 shares in the last quarter. First Heartland Consultants Inc. raised its stake in shares of CSX by 61.2% during the 3rd quarter. First Heartland Consultants Inc. now owns 8,102 shares of the transportation company’s stock worth $377,000 after purchasing an additional 3,077 shares in the last quarter. Davis Capital Management raised its stake in shares of CSX by 5.8% during the 3rd quarter. Davis Capital Management now owns 9,284 shares of the transportation company’s stock worth $432,000 after purchasing an additional 505 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of CSX by 14.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 109,347 shares of the transportation company’s stock valued at $5,306,000 after buying an additional 13,714 shares during the last quarter. Finally, CoreCap Advisors LLC lifted its holdings in shares of CSX by 2.1% during the 3rd quarter. CoreCap Advisors LLC now owns 39,248 shares of the transportation company’s stock valued at $1,834,000 after buying an additional 822 shares during the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

Insider Transactions at CSX

In related news, SVP Michael S. Burns sold 13,000 shares of the business’s stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $52.68, for a total value of $684,840.00. Following the completion of the transaction, the senior vice president directly owned 59,643 shares in the company, valued at approximately $3,141,993.24. The trade was a 17.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Angela C. Williams sold 30,000 shares of the stock in a transaction that occurred on 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 sale, the chief accounting officer directly owned 10,437 shares of the company’s stock, valued at approximately $556,187.73. The trade was a 74.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.30% of the stock is currently owned by insiders.

CSX Stock Performance

CSX stock opened at $47.34 on Friday. The company has a market cap of $87.70 billion, a PE ratio of 27.36, a PEG ratio of 2.20 and a beta of 1.21. The company has a current ratio of 0.82, a quick ratio of 0.72 and a debt-to-equity ratio of 1.22. CSX Corporation has a 1 year low of $33.63 and a 1 year high of $53.60. The company’s 50-day moving average is $49.07 and its two-hundred day moving average is $47.00.

CSX (NASDAQ:CSX) last issued its earnings results 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. CSX had a return on equity of 24.98% and a net margin of 22.21%.The firm had revenue of $3.94 billion for the quarter, compared to analysts’ expectations of $3.89 billion. During the same quarter last year, the business earned $0.44 earnings per share. The company’s revenue was up 10.1% compared to the same quarter last year. Equities analysts anticipate that CSX Corporation will post 2 earnings per share for the current year.

CSX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Monday, November 30th will be issued a dividend of $0.14 per share. The ex-dividend date is Monday, November 30th. This represents a $0.56 annualized dividend and a yield of 1.2%. CSX’s payout ratio is currently 32.37%.

Key Headlines Impacting CSX

Here are the key news stories impacting CSX this week:

• Positive Sentiment: Wall Street analysts rate CSX a consensus “Moderate Buy,” suggesting expectations for further appreciation despite recent volatility. CSX Corporation Stock Rated Moderate Buy by Wall Street Analysts
• Positive Sentiment: CSX maintained its quarterly dividend at $0.14 per share, payable December 15 to shareholders of record November 30. The unchanged payout reinforces income stability, although it provides no increase in shareholder returns. CSX Keeps Quarterly Dividend at $0.14 per Share
• Neutral Sentiment: CSX is preparing for Hurricane Isaias as Amtrak cancels trains. Possible service interruptions could affect operations, but the company’s preparations may limit the financial impact. Amtrak Cancels Trains, CSX Makes Preparations as Hurricane Isaias Approaches
• Neutral Sentiment: CSX’s annual Santa Train is scheduled to return to Eastern Kentucky, Virginia and Tennessee on November 21. The community event supports the company’s public image but is unlikely to materially affect earnings or valuation. CSX Santa Train Returning to Eastern Kentucky
• Negative Sentiment: Citigroup lowered its CSX price target from $54 to $53 and retained a “Neutral” rating. Although the revised target still implies upside, the reduction signals more cautious expectations. Source: Benzinga
• Negative Sentiment: Reports of modest declines in CSX trading and a consensus target near $51.09 indicate that recent market performance has not fully reflected analysts’ longer-term upside expectations. CSX Stock Falls as Consensus Target Reaches $51.09

Analysts Set New Price Targets

Several equities analysts have commented on CSX shares. Raymond James Financial reaffirmed an “outperform” rating and issued a $56.00 price target on shares of CSX in a report on Monday, July 13th. Benchmark restated a “buy” rating and issued a $54.00 target price (up from $48.00) on shares of CSX in a research note on Wednesday, July 15th. JPMorgan Chase & Co. dropped their price objective on shares of CSX from $58.00 to $57.00 and set an “overweight” rating for the company in a research note on Monday. Truist Financial set a $46.00 target price on shares of CSX in a research note on Friday, July 10th. Finally, Citizens Jmp started coverage on shares of CSX in a research note on Wednesday, July 15th. They set a “market perform” rating for the company. Eighteen research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $51.06.

CSX Profile

CSX Corporation (NASDAQ:CSX) is a transportation company that provides rail-based freight services through its principal subsidiary, CSX Transportation. The company moves a broad range of products, including agricultural and food products, chemicals, minerals, forest products, metals, automotive shipments, and consumer goods.

CSX also provides intermodal transportation, connecting rail shipments with trucks, ports, and distribution facilities. Its network serves the eastern United States and reaches parts of Canada, linking major industrial regions, population centers, manufacturing locations, and Atlantic and Gulf Coast ports.

CSX traces its history to the 1980 merger of Chessie System and Seaboard Coast Line Industries.