Profund Advisors LLC Sells 12,564 Shares of CSX Corporation $CSX

Profund Advisors LLC lowered its stake in CSX Corporation (NASDAQ:CSX) by 8.6% in the third quarter, HoldingsChannel.com reports. The firm owned 133,485 shares of the transportation company’s stock after selling 12,564 shares during the quarter. Profund Advisors LLC’s holdings in CSX were worth $6,208,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. acquired a new position in CSX in the 2nd quarter valued at about $7,655,277,000. XXEC Inc. purchased a new stake in CSX in the 2nd quarter worth about $765,595,000. Bank of America Corp DE purchased a new position in shares of CSX during the 2nd quarter valued at $1,598,962,000. Bank of New York Mellon Corp bought a new position in shares of CSX during the 2nd quarter valued at about $950,325,000. Finally, Legal & General Group Plc bought a new stake in CSX in the 2nd quarter worth $747,001,000. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on CSX shares. Evercore set a $53.00 price target on shares of CSX in a research note on Friday, October 23rd. Citizens Jmp began coverage on CSX in a research report on Wednesday, July 15th. They issued a “market perform” rating for the company. Bank of America boosted their price objective on shares of CSX from $55.00 to $57.00 and gave the stock a “buy” rating in a research report on Thursday, October 22nd. Robert W. Baird upped their price target on CSX from $49.00 to $53.00 and gave the stock an “outperform” rating in a report on Tuesday, July 7th. Finally, Sanford C. Bernstein restated a “market perform” rating and set a $49.00 target price on shares of CSX in a report on Thursday, October 22nd. Eighteen analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, CSX currently has a consensus rating of “Moderate Buy” and an average price target of $52.20.

CSX Trading Down 0.5%

NASDAQ:CSX opened at $51.99 on Friday. The company has a quick ratio of 0.75, a current ratio of 0.84 and a debt-to-equity ratio of 1.19. The stock has a fifty day simple moving average of $48.86 and a 200-day simple moving average of $45.51. The company has a market capitalization of $95.84 billion, a PE ratio of 26.94, a price-to-earnings-growth ratio of 2.29 and a beta of 1.21. CSX Corporation has a 52-week low of $33.63 and a 52-week high of $53.60.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Wednesday, October 21st. The transportation company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.04. CSX had a return on equity of 25.94% and a net margin of 23.97%. The firm had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.96 billion. During the same period last year, the company earned $0.44 EPS. The firm’s quarterly revenue was up 12.0% on a year-over-year basis. On average, equities research analysts expect that CSX Corporation will post 2.04 earnings per share for the current fiscal year.

CSX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Monday, November 30th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Monday, November 30th. CSX’s dividend payout ratio is 29.02%.

Insiders Place Their Bets

In related news, Director John Zillmer sold 19,500 shares of the business’s stock in a transaction that occurred on Monday, October 26th. The stock was sold at an average price of $51.24, for a total transaction of $999,180.00. Following the completion of the transaction, the director owned 334,214 shares in the company, valued at $17,125,125.36. The trade was a 5.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.30% of the stock is currently owned by insiders.

CSX Profile

CSX Corporation is a transportation company whose primary business is freight railroading through its CSX Transportation subsidiary. The company operates an extensive rail network across the eastern United States, serving major industrial centers, population hubs, ports and distribution markets.

CSX transports a broad range of products, including chemicals, agricultural and food products, forest products, minerals, metals, automotive goods and other manufactured merchandise. Its services also include intermodal transportation, which combines rail service with trucks and containers, as well as the movement of coal and other bulk commodities.

The company traces its roots to the formation of CSX Corporation in 1980 through the merger of Chessie System and Seaboard Coast Line Industries.