Todays Report: Today: Highland Capital Management LLC decides to keep it stake in CSX Corp. (CSX) to the level of $10,925,000

Today: Highland Capital Management LLC decides to keep it stake in CSX Corp. (CSX) to the level of $10,925,000

Highland Capital Management LLC cut its position in shares of CSX Corp. (NASDAQ:CSX) by 1.8% during the third quarter, Holdings Channel reports. The institutional investor owned 358,199 shares of the company’s stock after selling 6,404 shares during the period. CSX Corp. comprises 0.9% of Highland Capital Management LLC’s investment portfolio, making the stock its 23rd largest position. Highland Capital Management LLC’s holdings in CSX Corp. were worth $10,925,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its stake in CSX Corp. by 1.0% in the second quarter. Vanguard Group Inc. now owns 64,897,998 shares of the company’s stock valued at $1,692,540,000 after buying an additional 617,969 shares during the period. BlackRock Fund Advisors raised its position in shares of CSX Corp. by 1.5% in the second quarter. BlackRock Fund Advisors now owns 10,835,371 shares of the company’s stock valued at $282,586,000 after buying an additional 156,444 shares in the last quarter. Janus Capital Management LLC raised its position in shares of CSX Corp. by 2,956.3% in the second quarter. Janus Capital Management LLC now owns 8,445,436 shares of the company’s stock valued at $220,257,000 after buying an additional 8,169,105 shares in the last quarter. American Century Companies Inc. raised its position in shares of CSX Corp. by 20.9% in the second quarter. American Century Companies Inc. now owns 6,305,930 shares of the company’s stock valued at $164,459,000 after buying an additional 1,091,854 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp bought a new position in shares of CSX Corp. during the second quarter valued at $132,518,000. 68.97% of the stock is currently owned by institutional investors and hedge funds.

Shares of CSX Corp. (NASDAQ:CSX) traded down 0.97% during mid-day trading on Monday, hitting $34.67. 6,607,726 shares of the stock were exchanged. CSX Corp. has a 12-month low of $21.33 and a 12-month high of $35.23. The company has a market capitalization of $32.47 billion, a PE ratio of 19.29 and a beta of 1.11. The firm has a 50-day moving average price of $32.07 and a 200 day moving average price of $28.76.

CSX Corp. (NASDAQ:CSX) last posted its earnings results on Wednesday, October 12th. The company reported $0.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.03. CSX Corp. had a return on equity of 14.79% and a net margin of 15.93%. The company earned $2.71 billion during the quarter. During the same period in the prior year, the business posted $0.52 EPS. The firm’s quarterly revenue was down 7.8% compared to the same quarter last year. On average, equities research analysts expect that CSX Corp. will post $1.79 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Wednesday, November 30th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend is Monday, November 28th. CSX Corp.’s dividend payout ratio is currently 40.00%.

Several research analysts have weighed in on the stock. Aegis assumed coverage on shares of CSX Corp. in a report on Monday, October 24th. They set a “hold” rating and a $31.00 price objective for the company. Vetr lowered shares of CSX Corp. from a “buy” rating to a “hold” rating and set a $33.60 price objective for the company. in a report on Wednesday, November 9th. BMO Capital Markets lowered shares of CSX Corp. from an “outperform” rating to a “market perform” rating and raised their price objective for the stock from $34.00 to $35.00 in a report on Thursday, November 10th. They noted that the move was a valuation call. Atlantic Securities assumed coverage on shares of CSX Corp. in a report on Thursday, August 11th. They set a “neutral” rating and a $31.00 price objective for the company. Finally, Oppenheimer Holdings Inc. reissued a “market perform” rating on shares of CSX Corp. in a report on Friday, October 14th. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $30.45.

In related news, Chairman Michael J. Ward sold 300,000 shares of the business’s stock in a transaction dated Monday, October 17th. The stock was sold at an average price of $30.97, for a total value of $9,291,000.00. Following the completion of the transaction, the chairman now owns 198,742 shares of the company’s stock, valued at $6,155,039.74. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, President Clarence W. Gooden sold 15,625 shares of the business’s stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $32.00, for a total value of $500,000.00. Following the completion of the transaction, the president now directly owns 127,954 shares of the company’s stock, valued at approximately $4,094,528. The disclosure for this sale can be found here. Insiders own 0.36% of the company’s stock.

CSX Corp. Company Profile

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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