Shell Asset Management Co. lowered its stake in CSX Co. (NASDAQ:CSX) by 11.5% in the 1st quarter, Holdings Channel reports. The firm owned 147,638 shares of the transportation company’s stock after selling 19,204 shares during the quarter. Shell Asset Management Co.’s holdings in CSX were worth $8,460,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Bank of New York Mellon Corp boosted its position in shares of CSX by 2.4% during the 4th quarter. Bank of New York Mellon Corp now owns 8,560,164 shares of the transportation company’s stock valued at $619,414,000 after acquiring an additional 203,241 shares during the last quarter. Augustine Asset Management Inc. boosted its position in shares of CSX by 0.5% during the 4th quarter. Augustine Asset Management Inc. now owns 29,100 shares of the transportation company’s stock valued at $2,106,000 after acquiring an additional 133 shares during the last quarter. Advisor Partners LLC boosted its position in shares of CSX by 6.8% during the 4th quarter. Advisor Partners LLC now owns 29,269 shares of the transportation company’s stock valued at $2,195,000 after acquiring an additional 1,865 shares during the last quarter. Dupont Capital Management Corp boosted its position in shares of CSX by 35.5% during the 4th quarter. Dupont Capital Management Corp now owns 278,452 shares of the transportation company’s stock valued at $20,149,000 after acquiring an additional 72,910 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its position in shares of CSX by 32.4% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 167,006 shares of the transportation company’s stock valued at $12,085,000 after acquiring an additional 40,900 shares during the last quarter. Institutional investors and hedge funds own 73.08% of the company’s stock.
CSX stock traded up $0.73 during trading hours on Friday, reaching $68.53. The company had a trading volume of 2,721,667 shares, compared to its average volume of 4,665,264. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.73 and a quick ratio of 1.61. The company has a 50-day moving average price of $63.07 and a 200 day moving average price of $69.10. The firm has a market cap of $51.90 billion, a price-to-earnings ratio of 16.51, a P/E/G ratio of 2.41 and a beta of 1.23. CSX Co. has a 12-month low of $46.81 and a 12-month high of $80.62.
CSX (NASDAQ:CSX) last issued its quarterly earnings data on Wednesday, April 22nd. The transportation company reported $1.00 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.06. The firm had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.88 billion. CSX had a return on equity of 27.27% and a net margin of 27.74%. The business’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same period last year, the company earned $1.02 EPS. As a group, research analysts expect that CSX Co. will post 3.62 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 29th will be given a $0.26 dividend. The ex-dividend date is Thursday, May 28th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.52%. CSX’s dividend payout ratio is currently 24.94%.
In other news, Director Paul C. Hilal sold 700,000 shares of CSX stock in a transaction that occurred on Wednesday, April 29th. The stock was sold at an average price of $68.31, for a total value of $47,817,000.00. Following the sale, the director now directly owns 10,489 shares in the company, valued at approximately $716,503.59. The sale was disclosed in a filing with the SEC, which is available through this link. 0.58% of the stock is currently owned by company insiders.
A number of analysts have recently issued reports on CSX shares. Royal Bank of Canada reiterated a “neutral” rating on shares of CSX in a research report on Wednesday, March 18th. Susquehanna Bancshares dropped their price target on CSX from $88.00 to $72.00 and set a “positive” rating for the company in a research report on Wednesday, April 8th. Stifel Nicolaus reissued a “buy” rating and set a $71.00 price objective on shares of CSX in a report on Monday, April 6th. Goldman Sachs Group raised CSX from a “neutral” rating to a “buy” rating in a report on Sunday, April 19th. Finally, Zacks Investment Research raised CSX from a “sell” rating to a “hold” rating and set a $58.00 price objective on the stock in a report on Wednesday, March 25th. Fourteen investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $72.43.
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.
Featured Story: How can investors find ex-dividend dates?
Want to see what other hedge funds are holding CSX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CSX Co. (NASDAQ:CSX).
Receive News & Ratings for CSX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CSX and related companies with MarketBeat.com's FREE daily email newsletter.