Hancock Whitney Corp trimmed its position in shares of CSX Co. (NASDAQ:CSX) by 9.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,683 shares of the transportation company’s stock after selling 3,913 shares during the quarter. Hancock Whitney Corp’s holdings in CSX were worth $2,045,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of the company. Ballast Advisors LLC acquired a new position in CSX during the first quarter worth about $27,000. Private Ocean LLC grew its position in CSX by 147.8% during the first quarter. Private Ocean LLC now owns 503 shares of the transportation company’s stock worth $28,000 after buying an additional 300 shares during the period. Filbrandt Wealth Management LLC acquired a new position in CSX during the fourth quarter worth about $36,000. Westside Investment Management Inc. purchased a new stake in shares of CSX in the first quarter valued at about $38,000. Finally, Key Financial Inc purchased a new stake in shares of CSX in the first quarter valued at about $38,000. Institutional investors and hedge funds own 73.08% of the company’s stock.
In other CSX news, Director Paul C. Hilal sold 700,000 shares of the stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $68.31, for a total transaction of $47,817,000.00. Following the transaction, the director now directly owns 10,489 shares in the company, valued at approximately $716,503.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.58% of the company’s stock.
CSX opened at $68.53 on Friday. The company has a fifty day simple moving average of $63.07 and a 200 day simple moving average of $69.10. The firm has a market cap of $51.90 billion, a price-to-earnings ratio of 16.51, a PEG ratio of 2.41 and a beta of 1.23. CSX Co. has a twelve month low of $46.81 and a twelve month high of $80.62. The company has a current ratio of 1.73, a quick ratio of 1.61 and a debt-to-equity ratio of 1.39.
CSX (NASDAQ:CSX) last released its quarterly earnings results on Wednesday, April 22nd. The transportation company reported $1.00 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.06. The business had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.88 billion. CSX had a net margin of 27.74% and a return on equity of 27.27%. The business’s revenue was down 5.2% on a year-over-year basis. During the same period last year, the business earned $1.02 EPS. On average, analysts forecast that CSX Co. will post 3.62 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date is Thursday, May 28th. CSX’s payout ratio is 24.94%.
Several analysts have issued reports on the stock. Zacks Investment Research raised shares of CSX from a “sell” rating to a “hold” rating and set a $58.00 price target on the stock in a report on Wednesday, March 25th. UBS Group raised shares of CSX from a “neutral” rating to a “buy” rating and upped their price objective for the company from $63.00 to $80.00 in a research note on Wednesday. Deutsche Bank reduced their price objective on shares of CSX from $90.00 to $71.00 and set a “buy” rating on the stock in a research note on Thursday, March 12th. Raymond James reduced their price objective on shares of CSX from $80.00 to $71.00 and set an “outperform” rating on the stock in a research note on Friday, April 17th. Finally, Cfra upped their price objective on shares of CSX from $68.00 to $71.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. Fourteen analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. CSX presently has a consensus rating of “Hold” and an average price target of $72.43.
CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services, as well as transports intermodal containers and trailers. It transports chemicals, automotive, agricultural and food products, minerals, fertilizers, forest products, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.
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