CSX Corporation $CSX Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP lessened its holdings in CSX Corporation (NASDAQ:CSX) by 74.2% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 63,092 shares of the transportation company’s stock after selling 181,168 shares during the quarter. Wellington Management Group LLP’s holdings in CSX were worth $2,999,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of CSX. Brighton Jones LLC grew its stake in CSX by 5.5% during the 4th quarter. Brighton Jones LLC now owns 16,254 shares of the transportation company’s stock worth $525,000 after purchasing an additional 849 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S increased its holdings in CSX by 3.2% during the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 74,410 shares of the transportation company’s stock worth $2,428,000 after purchasing an additional 2,281 shares during the period. WFA of San Diego LLC acquired a new stake in CSX in the 2nd quarter valued at about $28,000. Captrust Financial Advisors boosted its stake in shares of CSX by 0.8% in the 2nd quarter. Captrust Financial Advisors now owns 405,828 shares of the transportation company’s stock valued at $13,242,000 after buying an additional 3,162 shares during the period. Finally, Horizon Investments LLC boosted its stake in shares of CSX by 22.5% in the 3rd quarter. Horizon Investments LLC now owns 148,355 shares of the transportation company’s stock valued at $5,268,000 after buying an additional 27,280 shares during the period. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Trading Up 1.4%

CSX opened at $49.04 on Friday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.72 and a current ratio of 0.82. CSX Corporation has a one year low of $31.96 and a one year high of $53.60. The company has a market cap of $90.85 billion, a P/E ratio of 28.35, a PEG ratio of 2.27 and a beta of 1.21. The business’s 50-day simple moving average is $50.23 and its 200-day simple moving average is $46.10.

CSX (NASDAQ:CSX) last posted its earnings results on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.02. The firm had revenue of $3.94 billion during the quarter, compared to analysts’ expectations of $3.89 billion. CSX had a return on equity of 24.98% and a net margin of 22.21%.The firm’s revenue was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.44 earnings per share. As a group, equities research analysts expect that CSX Corporation will post 2 EPS for the current fiscal year.

CSX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $0.56 dividend on an annualized basis and a yield of 1.1%. CSX’s dividend payout ratio (DPR) is presently 32.37%.

Insider Activity at CSX

In other news, CAO Angela Williams sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $53.29, for a total transaction of $1,598,700.00. Following the completion of the sale, the chief accounting officer owned 10,437 shares in the company, valued at approximately $556,187.73. The trade was a 74.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Michael Burns sold 13,000 shares of the company’s stock in a transaction on Friday, July 24th. The shares were sold at an average price of $52.68, for a total transaction of $684,840.00. Following the completion of the transaction, the senior vice president owned 59,643 shares of the company’s stock, valued at approximately $3,141,993.24. The trade was a 17.90% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on CSX. Wall Street Zen lowered shares of CSX from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Barclays reiterated an “overweight” rating and issued a $60.00 price target (up from $55.00) on shares of CSX in a research note on Thursday, July 23rd. Weiss Ratings upgraded shares of CSX from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Stifel Nicolaus set a $54.00 price objective on shares of CSX in a research report on Thursday, July 23rd. Finally, Truist Financial set a $46.00 price objective on shares of CSX in a report on Friday, July 10th. Eighteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, CSX currently has a consensus rating of “Moderate Buy” and an average target price of $51.31.

About CSX

CSX Corporation (NASDAQ: CSX) is a transportation company that operates one of the largest rail networks in the eastern United States. Through its CSX Transportation subsidiary, the company provides rail freight transportation and logistics services for manufacturers, distributors, utilities, agricultural businesses and other commercial customers.

CSX transports a broad range of products, including chemicals, agricultural and food products, minerals, forest products, metals, automobiles and consumer goods.