CSX Co. (NASDAQ:CSX) Shares Sold by ClearBridge Investments Ltd

ClearBridge Investments Ltd decreased its stake in shares of CSX Co. (NASDAQ:CSX) by 13.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,495,823 shares of the transportation company’s stock after selling 533,142 shares during the quarter. CSX makes up 3.4% of ClearBridge Investments Ltd’s investment portfolio, making the stock its 14th biggest holding. ClearBridge Investments Ltd owned approximately 0.18% of CSX worth $116,935,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the stock. Bank of Montreal Can raised its holdings in shares of CSX by 38.7% in the 2nd quarter. Bank of Montreal Can now owns 6,749,827 shares of the transportation company’s stock valued at $225,917,000 after purchasing an additional 1,884,998 shares in the last quarter. Lombard Odier Asset Management Europe Ltd raised its stake in CSX by 110.3% in the second quarter. Lombard Odier Asset Management Europe Ltd now owns 100,594 shares of the transportation company’s stock valued at $3,365,000 after buying an additional 52,750 shares in the last quarter. Public Sector Pension Investment Board lifted its holdings in CSX by 69.3% during the 2nd quarter. Public Sector Pension Investment Board now owns 74,576 shares of the transportation company’s stock worth $2,495,000 after buying an additional 30,531 shares during the last quarter. DRW Securities LLC lifted its holdings in CSX by 714.0% during the 2nd quarter. DRW Securities LLC now owns 78,252 shares of the transportation company’s stock worth $2,624,000 after buying an additional 68,639 shares during the last quarter. Finally, Fairscale Capital LLC acquired a new position in shares of CSX during the 2nd quarter worth about $32,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Stock Up 0.4 %

CSX stock opened at $34.93 on Monday. The stock has a 50 day moving average of $34.02 and a two-hundred day moving average of $34.34. CSX Co. has a twelve month low of $29.03 and a twelve month high of $40.12. The stock has a market capitalization of $68.29 billion, a price-to-earnings ratio of 19.19, a PEG 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 results on Monday, August 5th. The transportation company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.01. The firm had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.70 billion. CSX had a return on equity of 29.11% and a net margin of 24.52%. The company’s revenue for the quarter was up .0% on a year-over-year basis. During the same period last year, the company earned $0.49 earnings per share. As a group, research analysts expect that CSX Co. will post 1.93 earnings per share for the current year.

CSX Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on CSX shares. BMO Capital Markets reissued an “outperform” rating and set a $40.00 target price on shares of CSX in a research report on Tuesday, August 6th. Bank of America downgraded shares of CSX from a “buy” rating to a “neutral” rating and set a $37.00 price objective for the company. in a research report on Monday, July 8th. Sanford C. Bernstein increased their target price on shares of CSX from $35.00 to $36.00 and gave the company a “market perform” rating in a research report on Monday, July 8th. Stephens reissued an “overweight” rating and issued a $42.00 price target on shares of CSX in a research report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. upped their price objective on shares of CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. Seven research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, CSX has an average rating of “Moderate Buy” and a consensus price target of $38.80.

About CSX

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.