Cohen & Steers Inc. Boosts Stake in CSX Corporation $CSX

Cohen & Steers Inc. raised its position in shares of CSX Corporation (NASDAQ:CSX) by 1.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,282,107 shares of the transportation company’s stock after acquiring an additional 98,977 shares during the period. Cohen & Steers Inc. owned approximately 0.44% of CSX worth $300,226,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Sumitomo Life Insurance Co. grew its position in CSX by 0.9% during the fourth quarter. Sumitomo Life Insurance Co. now owns 39,996 shares of the transportation company’s stock valued at $1,450,000 after acquiring an additional 347 shares during the period. Virtue Capital Management LLC boosted its position in shares of CSX by 129.6% in the fourth quarter. Virtue Capital Management LLC now owns 23,353 shares of the transportation company’s stock worth $847,000 after buying an additional 13,182 shares during the period. Walled Lake Planning & Wealth Management LLC boosted its position in shares of CSX by 2.7% in the fourth 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 period. McMillan Office Inc. purchased a new stake in shares of CSX in the fourth quarter worth about $152,000. Finally, Lyell Wealth Management LP boosted its position in shares of CSX by 1.8% in the fourth quarter. Lyell Wealth Management LP now owns 27,831 shares of the transportation company’s stock worth $1,009,000 after buying an additional 486 shares during the period. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Trading Up 0.4%

Shares of NASDAQ CSX opened at $47.57 on Friday. The stock’s 50 day moving average price is $44.81 and its two-hundred day moving average price is $40.56. CSX Corporation has a 52-week low of $31.80 and a 52-week high of $48.03. The stock has a market capitalization of $88.39 billion, a P/E ratio of 29.18, a PEG ratio of 2.46 and a beta of 1.22. The company has a quick ratio of 0.83, a current ratio of 0.97 and a debt-to-equity ratio of 1.34.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Wednesday, April 22nd. The transportation company reported $0.43 earnings per share (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 firm had revenue of $3.48 billion for the quarter, compared to analysts’ expectations of $3.50 billion. During the same quarter in the prior year, the firm posted $0.34 earnings per share. CSX’s revenue for the quarter was up 1.7% compared to the same quarter last year. On average, analysts anticipate that CSX Corporation will post 1.9 earnings per share for the current fiscal year.

CSX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 29th will be paid a dividend of $0.14 per share. The ex-dividend date is Friday, May 29th. This represents a $0.56 annualized dividend and a yield of 1.2%. CSX’s dividend payout ratio is presently 34.36%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. upped their target price on CSX from $42.00 to $48.00 and gave the stock an “overweight” rating in a research report on Thursday, April 23rd. Vertical Research downgraded CSX from a “buy” rating to a “hold” rating and set a $44.00 target price for the company. in a research report on Thursday, April 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of CSX in a research report on Monday, June 1st. Jefferies Financial Group upped their target price on CSX from $50.00 to $52.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Finally, TD Cowen upped their target price on CSX from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Sixteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.42.

Insider Activity at CSX

In other CSX news, CFO Kevin S. Boone sold 136,708 shares of the company’s 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 sale, the chief financial officer owned 208,622 shares in the company, valued at $9,742,647.40. This represents a 39.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director John J. Zillmer sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $46.45, for a total value of $464,500.00. Following the sale, the director owned 353,714 shares in the company, valued at $16,430,015.30. The trade was a 2.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.30% of the company’s stock.

CSX Company 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.