Venator Management LLC Reduces Stock Holdings in CSX Co. (NASDAQ:CSX)

Venator Management LLC lessened its stake in CSX Co. (NASDAQ:CSX) by 30.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 36,170 shares of the transportation company’s stock after selling 15,875 shares during the quarter. CSX comprises about 0.4% of Venator Management LLC’s holdings, making the stock its 23rd largest holding. Venator Management LLC’s holdings in CSX were worth $1,210,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its position in shares of CSX by 0.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 65,251,716 shares of the transportation company’s stock worth $2,418,883,000 after acquiring an additional 443,755 shares during the last quarter. Capital International Investors increased its holdings in CSX by 14.3% during the 4th quarter. Capital International Investors now owns 40,353,078 shares of the transportation company’s stock worth $1,399,104,000 after purchasing an additional 5,041,679 shares during the last quarter. Fisher Asset Management LLC raised its position in shares of CSX by 2.0% in the 4th quarter. Fisher Asset Management LLC now owns 22,340,864 shares of the transportation company’s stock valued at $774,558,000 after purchasing an additional 433,228 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of CSX by 6.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 17,133,857 shares of the transportation company’s stock valued at $573,128,000 after purchasing an additional 1,060,204 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of CSX by 9.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 12,421,862 shares of the transportation company’s stock valued at $415,466,000 after buying an additional 1,060,617 shares during the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

Analyst Upgrades and Downgrades

CSX has been the subject of several research analyst reports. Wells Fargo & Company assumed coverage on shares of CSX in a research report on Friday, June 7th. They issued an “equal weight” rating and a $35.00 target price for the company. BMO Capital Markets reissued an “outperform” rating and issued a $40.00 price objective on shares of CSX in a report on Tuesday, August 6th. Susquehanna increased their target price on CSX from $40.00 to $41.00 and gave the stock a “positive” rating in a report on Wednesday, August 7th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $36.00 target price on shares of CSX in a research report on Tuesday, August 6th. Finally, Sanford C. Bernstein upped their price target on CSX from $35.00 to $36.00 and gave the company a “market perform” rating in a research report on Monday, July 8th. Seven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $38.80.

CSX Price Performance

NASDAQ CSX opened at $34.05 on Thursday. The company has a 50-day moving average price of $33.98 and a two-hundred day moving average price of $34.41. CSX Co. has a 52 week low of $29.03 and a 52 week high of $40.12. The stock has a market cap of $66.57 billion, a price-to-earnings ratio of 18.71, a price-to-earnings-growth 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 (NASDAQ:CSX) last issued its quarterly earnings data on Monday, August 5th. The transportation company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01. The business had revenue of $3.70 billion during the quarter, compared to analyst estimates of $3.70 billion. CSX had a return on equity of 29.11% and a net margin of 24.52%. The business’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.49 EPS. Analysts forecast that CSX Co. will post 1.93 EPS for the current year.

CSX Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date was Friday, August 30th. CSX’s dividend payout ratio (DPR) is 26.37%.

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.