Trust Point Inc. decreased its position in shares of CSX Corporation (NASDAQ:CSX – Free Report) by 37.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,607 shares of the transportation company’s stock after selling 5,115 shares during the period. Trust Point Inc.’s holdings in CSX were worth $253,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently bought and sold shares of CSX. Norges Bank acquired a new stake in shares of CSX in the 4th quarter worth $780,194,000. Ameriprise Financial Inc. raised its stake in CSX by 89.7% in the fourth quarter. Ameriprise Financial Inc. now owns 20,856,567 shares of the transportation company’s stock valued at $673,025,000 after buying an additional 9,863,587 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in CSX by 40.5% in the fourth quarter. Bank of New York Mellon Corp now owns 23,350,087 shares of the transportation company’s stock worth $753,507,000 after acquiring an additional 6,730,316 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of CSX by 471.9% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 6,748,661 shares of the transportation company’s stock worth $217,808,000 after acquiring an additional 5,568,624 shares during the last quarter. Finally, Fiduciary Management Inc. WI purchased a new stake in shares of CSX during the fourth quarter worth about $178,259,000. 73.57% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
CSX has been the subject of several research analyst reports. Stifel Nicolaus decreased their price objective on shares of CSX from $37.00 to $34.00 and set a “buy” rating for the company in a research report on Monday, April 14th. BMO Capital Markets decreased their price target on shares of CSX from $36.00 to $35.00 and set an “outperform” rating for the company in a report on Thursday, April 17th. Bank of America boosted their price objective on shares of CSX from $33.00 to $35.00 and gave the company a “neutral” rating in a report on Friday, June 13th. Raymond James Financial restated an “outperform” rating and issued a $33.00 target price (down previously from $34.00) on shares of CSX in a research note on Thursday, April 17th. Finally, Royal Bank Of Canada lowered their price target on CSX from $31.00 to $30.00 and set a “sector perform” rating for the company in a research report on Thursday, April 17th. Eight investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $34.14.
CSX Stock Performance
Shares of NASDAQ CSX opened at $32.12 on Wednesday. The company has a market capitalization of $60.34 billion, a PE ratio of 19.23, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.75 and a current ratio of 0.88. The company’s fifty day moving average price is $29.92 and its 200 day moving average price is $31.18. CSX Corporation has a 1 year low of $26.22 and a 1 year high of $37.10.
CSX (NASDAQ:CSX – Get Free Report) last posted its earnings results on Wednesday, April 16th. The transportation company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.05). CSX had a return on equity of 26.42% and a net margin of 22.66%. The firm had revenue of $3.42 billion for the quarter, compared to analysts’ expectations of $3.53 billion. On average, research analysts predict that CSX Corporation will post 1.83 earnings per share for the current year.
CSX Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.52 dividend on an annualized basis and a yield of 1.62%. CSX’s dividend payout ratio is currently 31.14%.
About CSX
CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services; and transportation of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations. It also transports chemicals, agricultural and food products, minerals, automotive, forest products, fertilizers, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants, as well as exports coal to deep-water port facilities.
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