CSX Co. (NASDAQ:CSX) Shares Sold by Successful Portfolios LLC

Successful Portfolios LLC lowered its position in CSX Co. (NASDAQ:CSX) by 8.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,765 shares of the transportation company’s stock after selling 1,137 shares during the quarter. Successful Portfolios LLC’s holdings in CSX were worth $473,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Norges Bank bought a new position in CSX during the 4th quarter valued at $757,276,000. Price T Rowe Associates Inc. MD boosted its stake in 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 buying an additional 9,914,656 shares in the last quarter. Capital International Investors grew its holdings in CSX by 14.3% during the fourth quarter. Capital International Investors now owns 40,353,078 shares of the transportation company’s stock worth $1,399,104,000 after acquiring an additional 5,041,679 shares during the period. Lazard Asset Management LLC raised its position in CSX by 10.4% in the third quarter. Lazard Asset Management LLC now owns 29,191,044 shares of the transportation company’s stock worth $897,624,000 after acquiring an additional 2,748,738 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. lifted its holdings in CSX by 43.8% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 4,752,117 shares of the transportation company’s stock valued at $146,128,000 after acquiring an additional 1,446,685 shares during the last quarter. Institutional investors own 73.57% of the company’s stock.

CSX Price Performance

Shares of CSX opened at $33.45 on Monday. The firm’s 50 day moving average price is $33.46 and its 200 day moving average price is $35.14. CSX Co. has a twelve month low of $29.03 and a twelve month high of $40.12. The firm has a market cap of $65.39 billion, a PE ratio of 18.38, a PEG ratio of 1.73 and a beta of 1.20. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.00 and a current ratio of 1.15.

CSX (NASDAQ:CSX) last released its quarterly earnings data on Wednesday, April 17th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.01. CSX had a net margin of 24.75% and a return on equity of 29.58%. The business had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.66 billion. During the same quarter in the previous year, the business earned $0.48 EPS. CSX’s quarterly revenue was down .8% compared to the same quarter last year. As a group, research analysts expect that CSX Co. will post 1.96 EPS for the current fiscal year.

CSX Announces Dividend

The company also recently declared 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. This represents a $0.48 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date was Friday, May 31st. CSX’s dividend payout ratio (DPR) is 26.37%.

Wall Street Analyst Weigh In

A number of research firms recently commented on CSX. Royal Bank of Canada dropped their target price on shares of CSX from $37.00 to $36.00 and set a “sector perform” rating on the stock in a report on Thursday, April 18th. Wells Fargo & Company assumed coverage on CSX in a research report on Friday, June 7th. They set an “equal weight” rating and a $35.00 price objective for the company. UBS Group decreased their target price on CSX from $46.00 to $44.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. Susquehanna cut their price target on shares of CSX from $44.00 to $40.00 and set a “positive” rating on the stock in a report on Tuesday, June 25th. Finally, Bank of America cut their target price on shares of CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, CSX presently has a consensus rating of “Moderate Buy” and an average target price of $37.59.

CSX Company 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.