Pacer Advisors Inc. Trims Stock Position in CSX Co. (NASDAQ:CSX)

Pacer Advisors Inc. reduced its stake in CSX Co. (NASDAQ:CSX) by 10.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 300,031 shares of the transportation company’s stock after selling 35,714 shares during the quarter. Pacer Advisors Inc.’s holdings in CSX were worth $10,036,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Price T Rowe Associates Inc. MD grew its position in CSX by 0.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 65,251,716 shares of the transportation company’s stock valued at $2,418,883,000 after buying an additional 443,755 shares during the last quarter. Capital International Investors boosted its holdings in shares of CSX by 14.3% in the fourth 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. Fisher Asset Management LLC increased its stake in shares of CSX by 2.0% during the fourth quarter. Fisher Asset Management LLC now owns 22,340,864 shares of the transportation company’s stock worth $774,558,000 after acquiring an additional 433,228 shares during the period. Bank of New York Mellon Corp increased its stake in shares of CSX by 6.6% during the second quarter. Bank of New York Mellon Corp now owns 17,133,857 shares of the transportation company’s stock worth $573,128,000 after acquiring an additional 1,060,204 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in CSX by 9.3% during the second quarter. Dimensional Fund Advisors LP now owns 12,421,862 shares of the transportation company’s stock worth $415,466,000 after purchasing an additional 1,060,617 shares in the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Price Performance

Shares of NASDAQ:CSX opened at $34.93 on Monday. CSX Co. has a one year low of $29.03 and a one year high of $40.12. The stock has a market cap of $68.29 billion, a PE ratio of 19.19, a price-to-earnings-growth ratio of 1.77 and a beta of 1.19. The business’s fifty day moving average price is $34.02 and its two-hundred day moving average price is $34.34. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.01 and a current ratio of 1.16.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Monday, August 5th. The transportation company reported $0.49 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $3.70 billion. During the same quarter last year, the business posted $0.49 EPS. The firm’s quarterly revenue was up .0% compared to the same quarter last year. On average, analysts forecast that CSX Co. will post 1.93 EPS for the current fiscal year.

CSX Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. lifted their price objective on CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a report on Tuesday, August 6th. BMO Capital Markets reaffirmed an “outperform” rating and set a $40.00 price objective on shares of CSX in a report on Tuesday, August 6th. Benchmark reissued a “buy” rating and issued a $40.00 target price on shares of CSX in a report on Wednesday, August 7th. Evercore ISI raised shares of CSX to a “strong-buy” rating in a research note on Tuesday, August 6th. Finally, Stephens reiterated an “overweight” rating and issued a $42.00 price objective on shares of CSX in a research note on Tuesday, August 6th. Seven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, CSX currently has an average rating of “Moderate Buy” and a consensus target price of $38.80.

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.