Meitav Dash Investments Ltd. raised its holdings in shares of CSX Co. (NASDAQ:CSX – Get Rating) by 58.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 254,182 shares of the transportation company’s stock after purchasing an additional 93,527 shares during the quarter. Meitav Dash Investments Ltd.’s holdings in CSX were worth $9,449,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Life Planning Partners Inc bought a new stake in shares of CSX in the 4th quarter worth $29,000. Whittier Trust Co. of Nevada Inc. grew its stake in shares of CSX by 80.2% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 811 shares of the transportation company’s stock worth $30,000 after acquiring an additional 361 shares in the last quarter. Capital Advisors Ltd. LLC bought a new stake in shares of CSX in the 4th quarter worth $34,000. Bank of New Hampshire bought a new stake in shares of CSX in the 1st quarter worth $34,000. Finally, Steward Financial Group LLC bought a new stake in shares of CSX in the 1st quarter worth $40,000. Institutional investors own 74.81% of the company’s stock.
CSX Trading Up 0.9 %
CSX stock opened at $33.11 on Friday. The business has a 50-day simple moving average of $30.30 and a two-hundred day simple moving average of $33.09. The company has a market cap of $70.90 billion, a P/E ratio of 18.60, a P/E/G ratio of 1.72 and a beta of 1.22. CSX Co. has a 52-week low of $27.59 and a 52-week high of $38.63. The company has a quick ratio of 1.01, a current ratio of 1.16 and a debt-to-equity ratio of 1.22.
CSX Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend is Tuesday, August 30th. CSX’s dividend payout ratio (DPR) is presently 22.47%.
Insider Buying and Selling at CSX
In other news, Director John J. Zillmer sold 16,000 shares of the firm’s stock in a transaction dated Monday, June 6th. The stock was sold at an average price of $32.25, for a total value of $516,000.00. Following the completion of the transaction, the director now directly owns 320,763 shares in the company, valued at $10,344,606.75. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.37% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
Several equities analysts recently weighed in on CSX shares. UBS Group reduced their price target on shares of CSX to $38.00 in a research report on Friday, July 22nd. Cowen reduced their price target on shares of CSX from $39.00 to $37.00 in a research report on Thursday, July 21st. Citigroup downgraded shares of CSX from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $45.00 to $35.00 in a report on Thursday, May 19th. Credit Suisse Group upped their price objective on shares of CSX to $37.00 in a report on Friday, July 22nd. Finally, Wells Fargo & Company dropped their price objective on shares of CSX from $37.00 to $30.00 and set an “equal weight” rating on the stock in a report on Friday, July 15th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, CSX presently has a consensus rating of “Moderate Buy” and an average price target of $36.52.
CSX Company Profile
CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services; and transportation of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations. It transports chemicals, agricultural and food products, automotive, minerals, forest products, fertilizers, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants, as well as exports coal to deep-water port facilities.
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