ProShare Advisors LLC Has $66.42 Million Holdings in CSX Co. (NASDAQ:CSX)

ProShare Advisors LLC cut its holdings in shares of CSX Co. (NASDAQ:CSX) by 9.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,985,512 shares of the transportation company’s stock after selling 213,554 shares during the quarter. ProShare Advisors LLC owned 0.10% of CSX worth $66,415,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its stake in shares of CSX by 18.1% in the 4th 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 in the last quarter. Capital International Investors raised its stake in shares of CSX by 14.3% in the 4th 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 in the last quarter. Manning & Napier Advisors LLC bought a new position in shares of CSX in the 2nd quarter valued at approximately $116,430,000. M&G Plc bought a new position in shares of CSX in the 1st quarter valued at approximately $126,089,000. Finally, Wulff Hansen & CO. raised its stake in shares of CSX by 3,243.0% in the 2nd quarter. Wulff Hansen & CO. now owns 2,192,246 shares of the transportation company’s stock valued at $73,331,000 after acquiring an additional 2,126,668 shares in the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CSX shares. Benchmark reissued a “buy” rating and issued a $40.00 price objective on shares of CSX in a research note on Wednesday, August 7th. Royal Bank of Canada reiterated a “sector perform” rating and set a $36.00 price target on shares of CSX in a report on Tuesday, August 6th. Stephens reiterated an “overweight” rating and set a $42.00 price target on shares of CSX in a report on Tuesday, August 6th. Wells Fargo & Company started coverage on CSX in a report on Friday, June 7th. They set an “equal weight” rating and a $35.00 price target for the company. Finally, Sanford C. Bernstein upped their price target on CSX from $35.00 to $36.00 and gave the stock a “market perform” rating in a report on Monday, July 8th. Seven analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $38.80.

CSX Stock Performance

CSX opened at $34.93 on Monday. The stock has a market cap of $68.29 billion, a PE ratio of 19.19, a P/E/G ratio of 1.77 and a beta of 1.19. The company has a current ratio of 1.16, a quick ratio of 1.01 and a debt-to-equity ratio of 1.42. CSX Co. has a 1 year low of $29.03 and a 1 year high of $40.12. The stock’s 50 day simple moving average is $34.02 and its 200-day simple moving average is $34.34.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Monday, August 5th. The transportation company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. CSX had a return on equity of 29.11% and a net margin of 24.52%. The firm had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $3.70 billion. During the same period in the prior year, the business posted $0.49 earnings per share. The business’s revenue was up .0% compared to the same quarter last year. Sell-side analysts forecast that CSX Co. will post 1.93 EPS for the current year.

CSX Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date was Friday, August 30th. CSX’s dividend payout ratio (DPR) is 26.37%.

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.