Trading Report: The Sit Investment Associates Inc. decides to keep it stake in CSX Corp. (CSX) to the level of $114,000

The Sit Investment Associates Inc. decides to keep it stake in CSX Corp. (CSX) to the level of $114,000

Sit Investment Associates Inc. held its stake in shares of CSX Corp. (NASDAQ:CSX) during the second quarter, Holdings Channel reports. The institutional investor owned 4,375 shares of the company’s stock at the end of the second quarter. Sit Investment Associates Inc.’s holdings in CSX Corp. were worth $114,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the stock. Schonfeld Strategic Advisors LLC acquired a new stake in shares of CSX Corp. during the first quarter valued at $207,000. Canandaigua National Bank & Trust Co. increased its stake in shares of CSX Corp. by 3.9% in the second quarter. Canandaigua National Bank & Trust Co. now owns 8,295 shares of the company’s stock valued at $216,000 after buying an additional 315 shares in the last quarter. Mariner Wealth Advisors LLC increased its stake in shares of CSX Corp. by 1.1% in the first quarter. Mariner Wealth Advisors LLC now owns 9,242 shares of the company’s stock valued at $238,000 after buying an additional 105 shares in the last quarter. NEXT Financial Group Inc increased its stake in shares of CSX Corp. by 3.9% in the second quarter. NEXT Financial Group Inc now owns 10,277 shares of the company’s stock valued at $268,000 after buying an additional 386 shares in the last quarter. Finally, Fisher Asset Management LLC increased its stake in shares of CSX Corp. by 1.1% in the second quarter. Fisher Asset Management LLC now owns 10,304 shares of the company’s stock valued at $275,000 after buying an additional 112 shares in the last quarter. 68.55% of the stock is currently owned by institutional investors.

Shares of CSX Corp. (NASDAQ:CSX) traded down 0.401% during mid-day trading on Friday, hitting $31.025. The company had a trading volume of 9,925,996 shares. The stock has a market cap of $29.35 billion, a price-to-earnings ratio of 16.935 and a beta of 1.23. CSX Corp. has a 52-week low of $21.33 and a 52-week high of $31.73. The stock’s 50-day moving average is $29.41 and its 200-day moving average is $27.43.

CSX Corp. (NASDAQ:CSX) last issued its earnings results on Wednesday, October 12th. The company reported $0.48 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.03. CSX Corp. had a return on equity of 14.80% and a net margin of 15.93%. The firm had revenue of $2.71 billion for the quarter. During the same quarter in the previous year, the business posted $0.52 EPS. CSX Corp.’s revenue was down 7.8% compared to the same quarter last year. Equities analysts forecast that CSX Corp. will post $1.75 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Wednesday, November 30th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date is Monday, November 28th. CSX Corp.’s payout ratio is currently 40.00%.

Several research analysts have recently issued reports on CSX shares. Citigroup Inc. restated a “buy” rating and issued a $34.00 price objective on shares of CSX Corp. in a research note on Friday. Cowen and Company lifted their price target on CSX Corp. from $30.00 to $33.00 and gave the company an “outperform” rating in a research report on Friday. Vertical Research started coverage on CSX Corp. in a research report on Tuesday. They set a “hold” rating for the company. Credit Suisse Group AG reiterated a “buy” rating on shares of CSX Corp. in a research report on Tuesday, September 13th. Finally, Wolfe Research upgraded CSX Corp. from a “market perform” rating to an “outperform” rating and set a $35.00 price target for the company in a research report on Tuesday, September 13th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and fourteen have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $29.75.

In related news, President Clarence W. Gooden sold 17,332 shares of CSX Corp. stock in a transaction on Monday, September 26th. The stock was sold at an average price of $29.44, for a total value of $510,254.08. Following the transaction, the president now owns 127,954 shares in the company, valued at $3,766,965.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Clarence W. Gooden sold 16,129 shares of CSX Corp. stock in a transaction on Thursday, October 6th. The shares were sold at an average price of $31.00, for a total value of $499,999.00. Following the completion of the transaction, the president now owns 127,954 shares in the company, valued at approximately $3,966,574. The disclosure for this sale can be found here. 0.36% of the stock is owned by corporate insiders.

About CSX Corp.

CSX Corporation, together with its subsidiaries, is a transportation company. The Company provides rail-based transportation services, including rail service and the transport of intermodal containers and trailers. The Company serves three lines of business, such as merchandise business, coal business and intermodal business.

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