BlackRock Fund Advisors recently announced the acquisition of new stake in CSX Corp. (NASDAQ:CSX). The institutional investor has increased its shareholding in the Industrials company by 0.69% to 87.34 million shares with purchase of 0.6 million shares. This fresh investment now brings its stake to 4.42% valued currently at $3.03 billion. In addition, T. Rowe Price Associates, Inc. raised its holdings by 8.47 million to 50.9 million shares. And Geode Capital Management LLC has lifted its position by 0.36% or 0.14 million shares – to 39.06 million shares.
Currently, there are 2.07B common shares owned by the public and among those 1.97B shares have been available to trade.
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Insiders at the company have transacted a total of 25 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 23 of these insider trades were purchases, accounting for 274,346 shares. Insider sales of the common stock occurred on 2 occasions, with total insider shares sold totaling 103,369 shares.
The top 3 mutual fund holders in CSX Corp. are Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and Invesco QQQ Trust. Vanguard Total Stock Market ETF owns 62.02 million shares of the company’s stock, all valued at over $2.15 billion. The company sold -0.84 million shares recently to bring their total holdings to about 3.14% of the shares outstanding. Vanguard 500 Index Fund sold -0.65 million shares to see its total holdings shrink to 48.25 million shares valued at over $1.67 billion and representing 2.44% of the shares outstanding. Invesco QQQ Trust sold 93293.0 shares to bring its total holdings to over 36.34 million shares at a value of $1.26 billion. Invesco QQQ Trust now owns shares totaling to 1.84% of the shares outstanding.
However, the script later moved the day high at 35.50, up 1.11%. The company’s stock has a 5-day price change of 2.43% and 19.56% over the past three months. CSX shares are trading 2.08% year to date (YTD), with the 12-month market performance up to 13.98% higher. It has a 12-month low price of $27.60 and touched a high of $35.09 over the same period. CSX has an average intraday trading volume of 11.82 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 2.10%, 5.24%, and 10.52% respectively.
Institutional ownership of CSX Corp. (NASDAQ: CSX) shares accounts for 75.54% of the company’s 2.07B shares outstanding. Mutual fund holders own 33.36%, while other institutional holders and individual stakeholders account for 42.57% and 3.30% respectively.
It has a market capitalization of $69.94B and a beta (3y monthly) value of 1.19. The stock’s trailing 12-month PE ratio is 19.19, while the earnings-per-share (ttm) stands at $1.84. The company has a PEG of 1.95 and a Quick Ratio of 1.00 with the debt-to-equity ratio at 1.53. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.19% over the week and 1.35% over the month.
Analysts forecast that CSX Corp. (CSX) will achieve an EPS of $0.45 for the current quarter, $0.5 for the next quarter and $2.2 for 2025. The lowest estimate earnings-per-share for the quarter is $0.42 while analysts give the company a high EPS estimate of $0.49. Comparatively, EPS for the current quarter was $0.48 a year ago. Earnings per share for the fiscal year are expected to increase by 6.82%, and 11.17% over the next financial year. EPS should grow at an annualized rate of 9.83% over the next five years, compared to 7.59% over the past 5-year period.
Looking at the support for the CSX, a number of firms have released research notes about the stock. TD Cowen stated their Market Perform rating for the stock in a research note on January 25, 2024, with the firm’s price target at $32-$36.
