Tredje AP fonden lessened its holdings in shares of CSX Co. (NASDAQ:CSX) by 5.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 55,300 shares of the transportation company’s stock after selling 3,267 shares during the quarter. Tredje AP fonden’s holdings in CSX were worth $3,208,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in CSX. Ballast Advisors LLC bought a new position in CSX during the 1st quarter worth approximately $27,000. Private Ocean LLC lifted its holdings in CSX by 147.8% during the 1st quarter. Private Ocean LLC now owns 503 shares of the transportation company’s stock worth $28,000 after buying an additional 300 shares during the last quarter. Filbrandt Wealth Management LLC bought a new position in CSX during the 4th quarter worth approximately $36,000. Westside Investment Management Inc. bought a new position in CSX during the 1st quarter worth approximately $38,000. Finally, Key Financial Inc bought a new position in CSX during the 1st quarter worth approximately $38,000. 73.08% of the stock is currently owned by institutional investors.
Several brokerages recently issued reports on CSX. Evercore ISI began coverage on CSX in a report on Thursday, March 26th. They issued an “outperform” rating and a $68.00 price target on the stock. Stifel Nicolaus reissued a “buy” rating and issued a $71.00 price target on shares of CSX in a report on Monday, April 6th. Susquehanna Bancshares cut their price target on CSX from $88.00 to $72.00 and set a “positive” rating on the stock in a report on Wednesday, April 8th. Cfra raised their price target on CSX from $68.00 to $71.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. Finally, Deutsche Bank cut their price target on CSX from $90.00 to $71.00 and set a “buy” rating on the stock in a report on Thursday, March 12th. Fourteen analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $72.43.
CSX traded up $0.73 on Friday, hitting $68.53. 2,721,667 shares of the stock traded hands, compared to its average volume of 4,665,264. CSX Co. has a 52 week low of $46.81 and a 52 week high of $80.62. The firm has a market capitalization of $51.90 billion, a PE ratio of 16.51, a P/E/G ratio of 2.41 and a beta of 1.23. The business has a fifty day moving average price of $63.07 and a two-hundred day moving average price of $69.10. The company has a current ratio of 1.73, a quick ratio of 1.61 and a debt-to-equity ratio of 1.39.
CSX (NASDAQ:CSX) last announced its earnings results on Wednesday, April 22nd. The transportation company reported $1.00 EPS for the quarter, topping the consensus estimate of $0.94 by $0.06. The business had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.88 billion. CSX had a return on equity of 27.27% and a net margin of 27.74%. CSX’s revenue was down 5.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.02 EPS. On average, equities research analysts forecast that CSX Co. will post 3.62 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 29th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 1.52%. The ex-dividend date is Thursday, May 28th. CSX’s payout ratio is 24.94%.
In related news, Director Paul C. Hilal sold 700,000 shares of the company’s stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $68.31, for a total value of $47,817,000.00. Following the completion of the sale, the director now owns 10,489 shares in the company, valued at approximately $716,503.59. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.58% of the company’s stock.
CSX Company Profile
CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services, as well as transports intermodal containers and trailers. It transports chemicals, automotive, agricultural and food products, minerals, fertilizers, forest products, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.
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