Trading Report: Today, PNC Financial Services Group Inc. decides to keep it stake in CSX Corp. (CSX) to the level of $37,310,000

Today, PNC Financial Services Group Inc. decides to keep it stake in CSX Corp. (CSX) to the level of $37,310,000

PNC Financial Services Group Inc. lowered its stake in CSX Corp. (NASDAQ:CSX) by 2.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,223,314 shares of the company’s stock after selling 29,697 shares during the period. PNC Financial Services Group Inc. owned approximately 0.13% of CSX Corp. worth $37,310,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. Brick & Kyle Associates raised its stake in CSX Corp. by 8.1% in the second quarter. Brick & Kyle Associates now owns 4,000 shares of the company’s stock valued at $104,000 after buying an additional 300 shares during the period. Washington Trust Bank raised its stake in CSX Corp. by 7.7% in the third quarter. Washington Trust Bank now owns 3,644 shares of the company’s stock valued at $111,000 after buying an additional 259 shares during the period. Advisors Asset Management Inc. acquired a new stake in CSX Corp. during the second quarter valued at $117,000. Community Bank N.A. raised its stake in CSX Corp. by 19.9% in the third quarter. Community Bank N.A. now owns 4,300 shares of the company’s stock valued at $132,000 after buying an additional 715 shares during the period. Finally, WFG Advisors LP raised its stake in CSX Corp. by 17.1% in the second quarter. WFG Advisors LP now owns 6,537 shares of the company’s stock valued at $170,000 after buying an additional 956 shares during the period. 68.86% of the stock is currently owned by institutional investors.

Shares of CSX Corp. (NASDAQ:CSX) traded up 0.74% during mid-day trading on Friday, hitting $35.19. The company’s stock had a trading volume of 2,510,855 shares. The stock’s 50 day moving average price is $31.92 and its 200 day moving average price is $28.69. CSX Corp. has a 52-week low of $21.33 and a 52-week high of $35.23. The company has a market cap of $32.96 billion, a price-to-earnings ratio of 19.58 and a beta of 1.11.

CSX Corp. (NASDAQ:CSX) last posted its quarterly earnings results on Wednesday, October 12th. The company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.03. The company had revenue of $2.71 billion for the quarter. CSX Corp. had a return on equity of 14.79% and a net margin of 15.93%. The business’s quarterly revenue was down 7.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.52 EPS. Equities analysts forecast that CSX Corp. will post $1.79 EPS for the current 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 paid a $0.18 dividend. The ex-dividend date is Monday, November 28th. This represents a $0.72 annualized dividend and a dividend yield of 2.06%. CSX Corp.’s payout ratio is currently 40.00%.

Several analysts recently weighed in on CSX shares. Bank of America Corp. reaffirmed a “buy” rating and issued a $32.00 price objective on shares of CSX Corp. in a research note on Monday, September 12th. Barclays PLC reiterated an “overweight” rating and issued a $35.00 target price on shares of CSX Corp. in a research report on Saturday, October 15th. Vertical Research began coverage on CSX Corp. in a research report on Tuesday, October 11th. They issued a “hold” rating for the company. Deutsche Bank AG began coverage on CSX Corp. in a research report on Wednesday, November 2nd. They issued a “buy” rating and a $36.00 target price for the company. Finally, Vetr downgraded CSX Corp. from a “buy” rating to a “hold” rating and set a $33.60 target price for the company. in a research report on Wednesday, November 9th. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and fourteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $30.45.

In other CSX Corp. news, President Clarence W. Gooden sold 15,625 shares of the stock in a transaction on Monday, November 7th. The stock was sold at an average price of $32.00, for a total transaction of $500,000.00. Following the sale, the president now directly owns 127,954 shares in the company, valued at approximately $4,094,528. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Michael J. Ward sold 300,000 shares of the stock in a transaction 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 sale, the chairman now owns 198,742 shares in the company, valued at $6,155,039.74. The disclosure for this sale can be found here. 0.36% of the stock is owned by corporate insiders.

CSX Corp. Company Profile

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