Nippon Life Global Investors Americas Inc. trimmed its holdings in shares of CSX Co. (NASDAQ:CSX) by 29.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,480 shares of the transportation company’s stock after selling 16,180 shares during the period. Nippon Life Global Investors Americas Inc.’s holdings in CSX were worth $2,850,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Acropolis Investment Management LLC purchased a new stake in CSX in the 3rd quarter worth about $107,000. LeJeune Puetz Investment Counsel LLC purchased a new stake in CSX in the 3rd quarter worth about $112,000. IMS Capital Management purchased a new stake in CSX in the 2nd quarter worth about $124,000. Strategic Wealth Partners Ltd. purchased a new stake in CSX in the 2nd quarter worth about $128,000. Finally, Kaizen Advisory LLC increased its holdings in CSX by 150.5% in the 2nd quarter. Kaizen Advisory LLC now owns 2,164 shares of the transportation company’s stock worth $138,000 after acquiring an additional 1,300 shares during the last quarter. Institutional investors own 76.09% of the company’s stock.
CSX stock opened at $69.18 on Friday. The company has a quick ratio of 1.29, a current ratio of 1.43 and a debt-to-equity ratio of 1.00. The stock has a market cap of $58.15 billion, a price-to-earnings ratio of 19.79, a P/E/G ratio of 1.36 and a beta of 1.27. CSX Co. has a twelve month low of $48.26 and a twelve month high of $76.24.
CSX (NASDAQ:CSX) last posted its earnings results on Tuesday, October 16th. The transportation company reported $1.05 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.11. The business had revenue of $3.13 billion during the quarter, compared to analyst estimates of $3.05 billion. CSX had a return on equity of 21.38% and a net margin of 55.19%. The company’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.51 EPS. Sell-side analysts expect that CSX Co. will post 3.8 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 30th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend is Thursday, November 29th. CSX’s payout ratio is presently 38.26%.
CSX has been the subject of several recent research reports. TD Securities lifted their price objective on CSX from $68.00 to $71.00 and gave the stock a “$69.00” rating in a report on Wednesday, July 18th. Raymond James lifted their price objective on CSX from $70.00 to $75.00 and gave the stock a “$69.00” rating in a report on Wednesday, July 18th. Cowen reissued a “$69.00” rating and issued a $74.00 price objective on shares of CSX in a report on Wednesday, July 18th. BidaskClub raised CSX from a “hold” rating to a “buy” rating in a report on Wednesday, August 15th. Finally, Stifel Nicolaus lifted their price objective on CSX from $74.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, July 18th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the stock. CSX presently has an average rating of “Buy” and an average price target of $77.60.
CSX Corporation, together with its subsidiaries, provides rail-based transportation services in the United States and Canada. The company offers rail services, as well as transports intermodal containers and trailers. It transports agricultural and food products, fertilizers, chemicals, automotive, metals and equipment, minerals, and forest products; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.
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