CSX Corporation $CSX Stake Increased by Lido Advisors LLC

Lido Advisors LLC grew its holdings in CSX Corporation (NASDAQ:CSX) by 13.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 113,993 shares of the transportation company’s stock after buying an additional 13,127 shares during the quarter. Lido Advisors LLC’s holdings in CSX were worth $5,302,000 at the end of the most recent reporting period.

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

CSX Stock Performance

Shares of NASDAQ:CSX opened at $52.40 on Friday. The stock has a market capitalization of $96.59 billion, a P/E ratio of 27.15, a P/E/G ratio of 2.27 and a beta of 1.12. CSX Corporation has a 1-year low of $33.63 and a 1-year high of $53.60. The company has a current ratio of 0.84, a quick ratio of 0.75 and a debt-to-equity ratio of 1.19. The business has a 50-day moving average price of $48.92 and a two-hundred day moving average price of $46.18.

CSX (NASDAQ:CSX) last issued its earnings results on Wednesday, October 21st. The transportation company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.04. The company had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.96 billion. CSX had a net margin of 23.97% and a return on equity of 25.94%. The company’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.44 EPS. Equities analysts predict that CSX Corporation will post 2.06 earnings per share for the current year.

CSX Dividend Announcement

The firm also recently declared 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. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Monday, November 30th. CSX’s payout ratio is 29.02%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CSX. Stifel Nicolaus set a $54.00 target price on shares of CSX in a research report on Thursday, July 23rd. Sanford C. Bernstein reissued a “market perform” rating and issued a $49.00 price target on shares of CSX in a report on Thursday, October 22nd. Susquehanna boosted their price objective 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. UBS Group set a $54.00 price objective on CSX in a report on Thursday, October 22nd. Finally, Barclays reiterated an “overweight” rating and issued a $60.00 price objective (up from $55.00) on shares of CSX in a research report on Thursday, July 23rd. Eighteen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $52.20.

Insiders Place Their Bets

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

CSX Profile

CSX Corporation is a freight transportation company that operates one of the largest rail networks in the eastern United States. Its rail system serves customers across much of the eastern U.S., as well as parts of Canada, and connects with other railroads and ports. CSX transports a broad range of goods, including chemicals, agricultural and food products, automobiles, minerals, forest products, coal and intermodal freight. Its services include rail transportation, intermodal shipping that combines rail and truck transport, and related logistics and supply-chain services.