CSX Co. (NASDAQ:CSX) Shares Sold by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S lessened its holdings in CSX Co. (NASDAQ:CSXFree Report) by 52.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 95,248 shares of the transportation company’s stock after selling 106,541 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in CSX were worth $3,531,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of CSX during the fourth quarter valued at $757,276,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of CSX by 18.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 64,807,961 shares of the transportation company’s stock valued at $2,246,893,000 after acquiring an additional 9,914,656 shares during the period. Capital International Investors boosted its holdings in shares of CSX by 14.3% during the fourth quarter. Capital International Investors now owns 40,353,078 shares of the transportation company’s stock valued at $1,399,104,000 after acquiring an additional 5,041,679 shares during the period. M&G Investment Management Ltd. boosted its holdings in shares of CSX by 25.5% during the fourth quarter. M&G Investment Management Ltd. now owns 3,993,901 shares of the transportation company’s stock valued at $139,787,000 after acquiring an additional 810,362 shares during the period. Finally, SG Americas Securities LLC boosted its holdings in shares of CSX by 352.6% during the fourth quarter. SG Americas Securities LLC now owns 914,769 shares of the transportation company’s stock valued at $31,715,000 after acquiring an additional 712,641 shares during the period. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Price Performance

CSX stock traded up $0.28 during midday trading on Wednesday, hitting $32.76. The company’s stock had a trading volume of 1,746,530 shares, compared to its average volume of 11,819,339. The company has a quick ratio of 1.00, a current ratio of 1.15 and a debt-to-equity ratio of 1.42. The stock’s 50-day moving average price is $33.37 and its 200-day moving average price is $35.09. CSX Co. has a 12 month low of $29.03 and a 12 month high of $40.12. The company has a market capitalization of $64.04 billion, a PE ratio of 17.85, a price-to-earnings-growth ratio of 1.73 and a beta of 1.20.

CSX (NASDAQ:CSXGet Free Report) last issued its quarterly earnings results on Wednesday, April 17th. The transportation company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.45 by $0.01. The firm had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.66 billion. CSX had a net margin of 24.75% and a return on equity of 29.58%. CSX’s revenue for the quarter was down .8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.48 earnings per share. Analysts anticipate that CSX Co. will post 1.95 earnings per share for the current fiscal year.

CSX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a $0.48 annualized dividend and a yield of 1.47%. CSX’s payout ratio is presently 26.37%.

Analysts Set New Price Targets

CSX has been the subject of several analyst reports. Susquehanna reduced their price target on shares of CSX from $44.00 to $40.00 and set a “positive” rating for the company in a report on Tuesday, June 25th. UBS Group reduced their price target on shares of CSX from $46.00 to $44.00 and set a “buy” rating for the company in a report on Thursday, April 18th. Wells Fargo & Company initiated coverage on shares of CSX in a research note on Friday, June 7th. They set an “equal weight” rating and a $35.00 price objective on the stock. Sanford C. Bernstein lifted their price objective on shares of CSX from $35.00 to $36.00 and gave the company a “market perform” rating in a research note on Monday. Finally, Stifel Nicolaus lifted their price objective on shares of CSX from $37.00 to $39.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $37.39.

View Our Latest Research Report on CSX

CSX Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for CSX (NASDAQ:CSX)

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