Gibraltar Capital Management Inc. Has $3,943,000 Position in CSX Corp. (CSX)
Gibraltar Capital Management Inc. reduced its stake in CSX Corp. (NASDAQ:CSX) by 1.5% during the second quarter, Holdings Channel reports. The institutional investor owned 151,174 shares of the company’s stock after selling 2,364 shares during the period. CSX Corp. comprises about 4.9% of Gibraltar Capital Management Inc.’s portfolio, making the stock its 8th largest position. Gibraltar Capital Management Inc.’s holdings in CSX Corp. were worth $3,943,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the company. Smith Salley & Associates raised its position in shares of CSX Corp. by 5.1% in the second quarter. Smith Salley & Associates now owns 172,241 shares of the company’s stock worth $4,491,000 after buying an additional 8,374 shares during the period. Sumitomo Mitsui Asset Management Company LTD raised its position in shares of CSX Corp. by 1.0% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 74,520 shares of the company’s stock worth $1,943,000 after buying an additional 745 shares during the period. Concert Wealth Management Inc. raised its position in shares of CSX Corp. by 7.7% in the second quarter. Concert Wealth Management Inc. now owns 38,588 shares of the company’s stock worth $1,007,000 after buying an additional 2,757 shares during the period. Savant Capital LLC acquired a new position in shares of CSX Corp. during the second quarter worth $341,000. Finally, Community Bank of Raymore raised its position in shares of CSX Corp. by 2.5% in the second quarter. Community Bank of Raymore now owns 741,373 shares of the company’s stock worth $19,328,000 after buying an additional 18,400 shares during the period. 68.64% of the stock is owned by hedge funds and other institutional investors.
Shares of CSX Corp. (NASDAQ:CSX) traded up 0.61% during mid-day trading on Wednesday, hitting $31.21. The stock had a trading volume of 3,361,162 shares. The stock has a market cap of $29.52 billion, a P/E ratio of 17.04 and a beta of 1.23. The firm has a 50 day moving average of $29.65 and a 200-day moving average of $27.56. CSX Corp. has a one year low of $21.33 and a one year high of $31.73.
CSX Corp. (NASDAQ:CSX) last announced its quarterly earnings results on Wednesday, October 12th. The company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.03. The company earned $2.71 billion during the quarter. CSX Corp. had a return on equity of 14.79% and a net margin of 15.93%. The firm’s revenue was down 7.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.52 earnings per share. Equities research analysts expect that CSX Corp. will post $1.75 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Wednesday, November 30th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend is Monday, November 28th. CSX Corp.’s dividend payout ratio is currently 40.00%.
Several equities research analysts have recently commented on CSX shares. Seaport Global Securities started coverage on shares of CSX Corp. in a research report on Wednesday. They set a “neutral” rating and a $31.00 price target for the company. Zacks Investment Research raised shares of CSX Corp. from a “hold” rating to a “buy” rating and set a $35.00 price target for the company in a research report on Tuesday. Oppenheimer Holdings Inc. reaffirmed a “market perform” rating on shares of CSX Corp. in a research report on Friday, October 14th. Barclays PLC reaffirmed an “overweight” rating and set a $35.00 price target on shares of CSX Corp. in a research report on Saturday. Finally, Citigroup Inc. reaffirmed a “buy” rating and set a $34.00 price target on shares of CSX Corp. in a research report on Friday, October 14th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. CSX Corp. currently has an average rating of “Hold” and an average target price of $30.00.
In other CSX Corp. news, President Clarence W. Gooden sold 17,332 shares of the firm’s stock in a transaction that occurred on Monday, September 26th. The stock was sold at an average price of $29.44, for a total value of $510,254.08. Following the sale, the president now directly owns 127,954 shares of the company’s stock, valued at $3,766,965.76. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Michael J. Ward sold 300,000 shares of the firm’s stock in a transaction that occurred on Monday, October 17th. The shares were sold at an average price of $30.97, for a total value of $9,291,000.00. Following the completion of the sale, the chairman now directly owns 198,742 shares in the company, valued at $6,155,039.74. The disclosure for this sale can be found here. Corporate insiders own 0.36% of the company’s stock.
About CSX Corp.
CSX Corporation, together with its subsidiaries, is a transportation company. The Company provides rail-based transportation services, including rail service and the transport of intermodal containers and trailers. The Company serves three lines of business, such as merchandise business, coal business and intermodal business.
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