Nordea Investment Management AB Acquires 2,059 Shares of CSX Co. (NASDAQ:CSX)

Nordea Investment Management AB increased its holdings in CSX Co. (NASDAQ:CSXGet Rating) by 0.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,034,478 shares of the transportation company’s stock after acquiring an additional 2,059 shares during the quarter. Nordea Investment Management AB’s holdings in CSX were worth $39,176,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of CSX. Capital World Investors grew its position in CSX by 4.4% during the 4th quarter. Capital World Investors now owns 184,488,460 shares of the transportation company’s stock valued at $6,936,719,000 after purchasing an additional 7,841,524 shares during the last quarter. BlackRock Inc. grew its position in CSX by 3.5% during the 4th quarter. BlackRock Inc. now owns 151,615,861 shares of the transportation company’s stock valued at $5,700,758,000 after purchasing an additional 5,149,812 shares during the last quarter. State Street Corp grew its position in CSX by 1.2% during the 4th quarter. State Street Corp now owns 94,594,242 shares of the transportation company’s stock valued at $3,556,743,000 after purchasing an additional 1,095,588 shares during the last quarter. Geode Capital Management LLC grew its position in CSX by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 37,512,305 shares of the transportation company’s stock valued at $1,407,138,000 after purchasing an additional 692,267 shares during the last quarter. Finally, Norges Bank purchased a new stake in CSX during the 4th quarter valued at about $732,770,000. Institutional investors own 74.81% of the company’s stock.

In other news, Director John J. Zillmer sold 16,000 shares of CSX stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $32.25, for a total transaction of $516,000.00. Following the sale, the director now owns 320,763 shares in the company, valued at $10,344,606.75. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.37% of the company’s stock.

Several analysts recently commented on the stock. TD Securities downgraded shares of CSX from a “buy” rating to a “hold” rating and cut their price objective for the company from $41.00 to $38.00 in a research report on Monday, April 18th. Royal Bank of Canada raised shares of CSX from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $37.00 to $39.00 in a report on Thursday, March 17th. Susquehanna raised their price target on shares of CSX from $44.00 to $45.00 and gave the company a “positive” rating in a report on Thursday, April 21st. Argus raised their price target on shares of CSX from $39.00 to $41.00 in a report on Friday, April 22nd. Finally, StockNews.com downgraded shares of CSX from a “buy” rating to a “hold” rating in a report on Thursday, May 26th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $38.76.

NASDAQ CSX opened at $28.83 on Thursday. CSX Co. has a 12 month low of $28.50 and a 12 month high of $38.63. The stock has a market cap of $62.68 billion, a price-to-earnings ratio of 16.38, a PEG ratio of 1.56 and a beta of 1.22. The company’s 50 day moving average is $32.57 and its two-hundred day moving average is $34.55. The company has a current ratio of 1.46, a quick ratio of 1.32 and a debt-to-equity ratio of 1.21.

CSX (NASDAQ:CSXGet Rating) last released its quarterly earnings data on Wednesday, April 20th. The transportation company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.01. The firm had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.31 billion. CSX had a net margin of 29.98% and a return on equity of 27.47%. The company’s revenue for the quarter was up 21.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.31 earnings per share. Sell-side analysts forecast that CSX Co. will post 1.83 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 15th. Stockholders of record on Tuesday, May 31st were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.39%. The ex-dividend date was Friday, May 27th. CSX’s payout ratio is currently 22.73%.

CSX Company Profile (Get Rating)

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 transports chemicals, agricultural and food products, automotive, minerals, 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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Institutional Ownership by Quarter for CSX (NASDAQ:CSX)

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