CSX Co. (NASDAQ:CSX) Shares Sold by Guggenheim Capital LLC
Guggenheim Capital LLC lowered its stake in CSX Co. (NASDAQ:CSX) by 28.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 187,157 shares of the transportation company’s stock after selling 75,489 shares during the period. Guggenheim Capital LLC’s holdings in CSX were worth $10,725,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. State of Tennessee Treasury Department grew its holdings in CSX by 126.8% during the first quarter. State of Tennessee Treasury Department now owns 594,511 shares of the transportation company’s stock worth $34,065,000 after acquiring an additional 332,400 shares during the period. Rainier Group Investment Advisory LLC acquired a new position in CSX during the first quarter worth $220,000. Coldstream Capital Management Inc. grew its holdings in CSX by 10.1% during the first quarter. Coldstream Capital Management Inc. now owns 3,696 shares of the transportation company’s stock worth $212,000 after acquiring an additional 340 shares during the period. National Pension Service grew its holdings in CSX by 1.3% during the first quarter. National Pension Service now owns 985,525 shares of the transportation company’s stock worth $56,471,000 after acquiring an additional 12,398 shares during the period. Finally, 1832 Asset Management L.P. grew its holdings in CSX by 16,550.0% during the first quarter. 1832 Asset Management L.P. now owns 166,500 shares of the transportation company’s stock worth $9,727,000 after acquiring an additional 165,500 shares during the period. 73.32% of the stock is currently owned by institutional investors and hedge funds.
CSX has been the topic of a number of recent analyst reports. Zacks Investment Research raised CSX from a “sell” rating to a “hold” rating and set a $58.00 price objective on the stock in a report on Wednesday, March 25th. Raymond James decreased their target price on CSX from $80.00 to $71.00 and set an “outperform” rating on the stock in a research report on Friday, April 17th. Cfra boosted their target price on CSX from $68.00 to $71.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Stifel Nicolaus reiterated a “buy” rating and set a $71.00 target price on shares of CSX in a research report on Monday, April 6th. Finally, Wells Fargo & Co boosted their target price on CSX from $66.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Friday, May 22nd. Fifteen research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $73.29.
CSX (NASDAQ:CSX) last released its earnings results on Wednesday, April 22nd. The transportation company reported $1.00 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.06. CSX had a return on equity of 27.27% and a net margin of 27.74%. The firm had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same period in the prior year, the business posted $1.02 earnings per share. The firm’s revenue for the quarter was down 5.2% compared to the same quarter last year. As a group, equities research analysts anticipate that CSX Co. will post 3.59 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Thursday, May 28th. This represents a $1.04 annualized dividend and a yield of 1.55%. CSX’s dividend payout ratio (DPR) is presently 24.94%.
In other CSX news, EVP Mark Kenneth Wallace sold 20,000 shares of the company’s 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 completion of the sale, the executive vice president now directly owns 58,252 shares in the company, valued at $4,240,163.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Paul C. Hilal sold 700,000 shares of the company’s stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $68.31, for a total value of $47,817,000.00. Following the sale, the director now owns 10,489 shares of the company’s stock, valued at $716,503.59. The disclosure for this sale can be found here. Corporate insiders own 0.58% of the company’s stock.
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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