Sumitomo Mitsui Trust Group Inc. Sells 95,402 Shares of CSX Corporation $CSX

Sumitomo Mitsui Trust Group Inc. trimmed its position in shares of CSX Corporation (NASDAQ:CSX) by 2.1% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 4,352,270 shares of the transportation company’s stock after selling 95,402 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in CSX were worth $202,424,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Archer Investment Corp purchased a new position in shares of CSX during the second quarter worth approximately $26,000. N.E.W. Advisory Services LLC bought a new stake in CSX during the 2nd quarter valued at $27,000. Pin Oak Investment Advisors Inc. purchased a new stake in shares of CSX during the second quarter worth about $29,000. Manning & Napier Advisors LLC bought a new stake in shares of CSX in the 2nd quarter worth approximately $30,000. Finally, Arlington Trust Co LLC boosted its holdings in CSX by 58.0% in the second quarter. Arlington Trust Co LLC now owns 681 shares of the transportation company’s stock valued at $32,000 after acquiring an additional 250 shares in the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Insider Buying and Selling at CSX

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

CSX Price Performance

Shares of NASDAQ:CSX opened at $51.99 on Monday. The business has a fifty day moving average price of $48.86 and a 200-day moving average price of $45.51. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.84 and a quick ratio of 0.75. The company has a market capitalization of $95.84 billion, a PE ratio of 26.94, a PEG ratio of 2.29 and a beta of 1.21. CSX Corporation has a 1-year low of $33.63 and a 1-year high of $53.60.

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

CSX Announces Dividend

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

Analysts Set New Price Targets

Several brokerages recently weighed in on CSX. Argus set a $56.00 price target on CSX in a research note on Friday, July 31st. Wall Street Zen cut shares of CSX from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Susquehanna upped their target price on shares of CSX from $55.00 to $60.00 and gave the stock a “positive” rating in a research report on Tuesday, October 27th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $59.00 price target on shares of CSX in a research note on Friday, July 24th. Finally, UBS Group set a $54.00 price target on shares of CSX in a research report on Thursday, October 22nd. Eighteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $52.20.

CSX Company 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.