Cbre Investment Management Listed Real Assets LLC Sells 978,052 Shares of CSX Corporation $CSX

Cbre Investment Management Listed Real Assets LLC lowered its holdings in shares of CSX Corporation (NASDAQ:CSX) by 65.3% in the second quarter, Holdings Channel.com reports. The fund owned 519,551 shares of the transportation company’s stock after selling 978,052 shares during the quarter. Cbre Investment Management Listed Real Assets LLC’s holdings in CSX were worth $16,953,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Ameriprise Financial Inc. lifted its position in shares of CSX by 12.5% during the first quarter. Ameriprise Financial Inc. now owns 23,456,085 shares of the transportation company’s stock worth $690,359,000 after purchasing an additional 2,599,518 shares during the last quarter. Northern Trust Corp increased its stake in CSX by 4.6% in the 1st quarter. Northern Trust Corp now owns 22,067,356 shares of the transportation company’s stock worth $649,442,000 after buying an additional 969,567 shares during the period. Dimensional Fund Advisors LP lifted its holdings in CSX by 11.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 18,742,431 shares of the transportation company’s stock valued at $551,540,000 after buying an additional 1,856,322 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in CSX by 19.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 15,312,107 shares of the transportation company’s stock valued at $450,635,000 after buying an additional 2,454,895 shares during the period. Finally, Alliancebernstein L.P. grew its stake in CSX by 17.2% in the 1st quarter. Alliancebernstein L.P. now owns 13,389,771 shares of the transportation company’s stock worth $394,061,000 after acquiring an additional 1,964,994 shares in the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Stock Down 0.5%

Shares of NASDAQ CSX opened at $35.16 on Friday. CSX Corporation has a 12-month low of $26.22 and a 12-month high of $37.25. The stock’s fifty day simple moving average is $34.57 and its two-hundred day simple moving average is $33.22. The stock has a market capitalization of $65.47 billion, a PE ratio of 22.98, a price-to-earnings-growth ratio of 2.75 and a beta of 1.31. The company has a current ratio of 0.85, a quick ratio of 0.71 and a debt-to-equity ratio of 1.45.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Thursday, October 16th. The transportation company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.02. CSX had a return on equity of 24.95% and a net margin of 20.55%.The firm had revenue of $3.59 billion during the quarter, compared to analysts’ expectations of $3.60 billion. During the same period in the prior year, the business posted $0.45 EPS. The firm’s quarterly revenue was down .9% on a year-over-year basis. As a group, analysts expect that CSX Corporation will post 1.83 EPS for the current fiscal year.

CSX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 28th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Friday, November 28th. CSX’s dividend payout ratio (DPR) is currently 33.99%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CSX. Wells Fargo & Company raised shares of CSX from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $37.00 to $40.00 in a research note on Thursday, September 25th. Bank of America reduced their price objective on CSX from $42.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, September 24th. TD Cowen lifted their target price on CSX from $38.00 to $39.00 and gave the company a “buy” rating in a research report on Friday, October 17th. The Goldman Sachs Group upped their target price on CSX from $35.00 to $37.00 and gave the stock a “neutral” rating in a report on Friday, October 17th. Finally, Evercore ISI restated an “outperform” rating and set a $39.00 price target (up previously from $37.00) on shares of CSX in a research note on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $39.09.

Insider Activity

In other news, EVP Kevin S. Boone sold 31,053 shares of CSX stock in a transaction that occurred on Wednesday, October 22nd. The shares were sold at an average price of $36.09, for a total value of $1,120,702.77. Following the transaction, the executive vice president owned 197,521 shares of the company’s stock, valued at $7,128,532.89. The trade was a 13.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Michael S. Burns sold 24,249 shares of the stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $36.76, for a total transaction of $891,393.24. Following the sale, the senior vice president directly owned 51,640 shares of the company’s stock, valued at $1,898,286.40. The trade was a 31.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.55% of the company’s stock.

CSX Profile

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.