Principal Financial Group Inc. cut its holdings in shares of CSX Co. (NASDAQ:CSX – Free Report) by 5.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,299,688 shares of the transportation company’s stock after selling 132,346 shares during the period. Principal Financial Group Inc. owned approximately 0.11% of CSX worth $78,419,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in CSX. Moneta Group Investment Advisors LLC boosted its position in shares of CSX by 101,926.4% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 23,323,241 shares of the transportation company’s stock worth $722,554,000 after buying an additional 23,300,381 shares during the period. Norges Bank bought a new stake in CSX during the fourth quarter worth approximately $621,349,000. Price T Rowe Associates Inc. MD raised its holdings in CSX by 20.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 51,565,862 shares of the transportation company’s stock worth $1,543,883,000 after purchasing an additional 8,797,783 shares in the last quarter. First Trust Advisors LP raised its holdings in CSX by 558.0% during the first quarter. First Trust Advisors LP now owns 6,800,925 shares of the transportation company’s stock worth $203,620,000 after purchasing an additional 5,767,302 shares in the last quarter. Finally, Providence Capital Advisors LLC raised its holdings in CSX by 45,104.9% during the first quarter. Providence Capital Advisors LLC now owns 4,415,162 shares of the transportation company’s stock worth $147,467,000 after purchasing an additional 4,405,395 shares in the last quarter. 72.76% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several brokerages recently commented on CSX. Citigroup dropped their target price on CSX from $39.00 to $38.00 and set a “buy” rating on the stock in a report on Friday, July 21st. Barclays dropped their target price on CSX from $40.00 to $38.00 in a report on Wednesday, October 4th. Stifel Nicolaus boosted their target price on CSX from $37.00 to $38.00 in a report on Monday, July 17th. Benchmark reaffirmed a “buy” rating and issued a $37.00 price target on shares of CSX in a report on Friday, October 20th. Finally, Royal Bank of Canada dropped their price target on CSX from $35.00 to $34.00 and set a “sector perform” rating on the stock in a report on Friday, October 20th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, CSX has an average rating of “Moderate Buy” and a consensus target price of $36.00.
CSX Trading Down 0.1 %
Shares of NASDAQ:CSX opened at $30.35 on Wednesday. The stock has a market capitalization of $59.98 billion, a PE ratio of 16.14, a P/E/G ratio of 2.48 and a beta of 1.20. CSX Co. has a 1 year low of $27.60 and a 1 year high of $34.38. The firm has a fifty day moving average price of $30.53 and a 200 day moving average price of $31.59. The company has a current ratio of 1.14, a quick ratio of 1.00 and a debt-to-equity ratio of 1.50.
CSX (NASDAQ:CSX – Get Free Report) last issued its quarterly earnings data on Thursday, October 19th. The transportation company reported $0.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.42. The firm had revenue of $3.57 billion during the quarter, compared to analysts’ expectations of $3.55 billion. CSX had a net margin of 26.16% and a return on equity of 31.28%. CSX’s revenue for the quarter was down 8.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.52 earnings per share. Analysts expect that CSX Co. will post 1.83 EPS for the current fiscal year.
CSX Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date is Wednesday, November 29th. CSX’s dividend payout ratio is presently 23.40%.
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, 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.
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