Huntington National Bank trimmed its holdings in CSX Co. (NASDAQ:CSX) by 7.0% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 50,583 shares of the transportation company’s stock after selling 3,808 shares during the quarter. Huntington National Bank’s holdings in CSX were worth $3,528,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in CSX. 1832 Asset Management L.P. grew its holdings in CSX by 11,000.0% during the 1st quarter. 1832 Asset Management L.P. now owns 111,000 shares of the transportation company’s stock valued at $6,484,000 after buying an additional 110,000 shares in the last quarter. NewSquare Capital LLC bought a new stake in shares of CSX in the first quarter valued at about $57,000. The Manufacturers Life Insurance Company raised its holdings in shares of CSX by 20.8% in the first quarter. The Manufacturers Life Insurance Company now owns 805,354 shares of the transportation company’s stock valued at $46,147,000 after acquiring an additional 138,440 shares in the last quarter. First Command Bank raised its holdings in shares of CSX by 100.0% in the second quarter. First Command Bank now owns 5,482 shares of the transportation company’s stock valued at $382,000 after acquiring an additional 2,741 shares in the last quarter. Finally, APG Asset Management N.V. raised its holdings in shares of CSX by 7.0% in the first quarter. APG Asset Management N.V. now owns 2,729,842 shares of the transportation company’s stock valued at $156,420,000 after acquiring an additional 179,106 shares in the last quarter. Hedge funds and other institutional investors own 72.78% of the company’s stock.
NASDAQ CSX opened at $71.34 on Friday. The stock has a market cap of $54.61 billion, a PE ratio of 19.18, a P/E/G ratio of 2.67 and a beta of 1.23. The company has a current ratio of 1.62, a quick ratio of 1.51 and a debt-to-equity ratio of 1.33. CSX Co. has a twelve month low of $46.81 and a twelve month high of $80.62. The stock has a fifty day simple moving average of $69.53 and a 200-day simple moving average of $68.45.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend is Friday, August 28th. CSX’s payout ratio is 24.94%.
A number of equities research analysts have recently weighed in on the company. Barclays boosted their price target on CSX from $67.00 to $76.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 2nd. Susquehanna Bancshares decreased their price target on CSX from $88.00 to $72.00 and set a “positive” rating for the company in a report on Wednesday, April 8th. BMO Capital Markets upped their target price on CSX from $71.00 to $75.00 and gave the stock a “market perform” rating in a research note on Wednesday, June 3rd. Goldman Sachs Group raised CSX from a “neutral” rating to a “buy” rating in a research note on Sunday, April 19th. Finally, UBS Group upgraded CSX from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $63.00 to $80.00 in a research report on Wednesday, May 20th. Eleven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $73.45.
In related news, EVP Mark Kenneth Wallace sold 20,000 shares of the stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $72.79, for a total transaction of $1,455,800.00. Following the transaction, the executive vice president now owns 58,252 shares of the company’s stock, valued at approximately $4,240,163.08. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director John J. Zillmer sold 20,500 shares of the stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $72.13, for a total value of $1,478,665.00. Following the transaction, the director now directly owns 152,539 shares in the company, valued at approximately $11,002,638.07. The disclosure for this sale can be found here. 0.58% of the stock is currently owned by corporate insiders.
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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