1832 Asset Management L.P. Cuts Stock Position in CSX Co. (NASDAQ:CSX)

1832 Asset Management L.P. trimmed its holdings in CSX Co. (NASDAQ:CSX) by 59.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 655,788 shares of the transportation company’s stock after selling 944,505 shares during the period. 1832 Asset Management L.P.’s holdings in CSX were worth $21,936,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in CSX. Price T Rowe Associates Inc. MD grew its stake in 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 valued at $2,418,883,000 after acquiring an additional 443,755 shares in the last quarter. Capital International Investors boosted its stake in CSX by 14.3% during 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 buying an additional 5,041,679 shares during the last quarter. Fisher Asset Management LLC raised its holdings in shares of CSX by 2.0% during the 4th 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 in the last quarter. Bank of New York Mellon Corp boosted its position in shares of CSX by 6.6% during 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 acquiring an additional 1,060,204 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of CSX by 9.3% in the second quarter. Dimensional Fund Advisors LP now owns 12,421,862 shares of the transportation company’s stock valued at $415,466,000 after purchasing an additional 1,060,617 shares in the last quarter. Institutional investors own 73.57% of the company’s stock.

CSX Price Performance

Shares of CSX stock opened at $34.02 on Tuesday. The company has a market capitalization of $66.51 billion, a P/E ratio of 18.69, a P/E/G ratio of 1.77 and a beta of 1.19. The company’s 50-day simple moving average is $34.01 and its two-hundred day simple moving average is $34.31. CSX Co. has a one year low of $29.03 and a one year high of $40.12. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.16 and a quick ratio of 1.01.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Monday, August 5th. The transportation company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.01. The company had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $3.70 billion. CSX had a return on equity of 29.11% and a net margin of 24.52%. CSX’s revenue was up .0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.49 earnings per share. As a group, equities analysts anticipate that CSX Co. will post 1.93 EPS for the current year.

CSX Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were issued a $0.12 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.48 annualized dividend and a dividend yield of 1.41%. CSX’s payout ratio is currently 26.37%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Evercore ISI raised shares of CSX to a “strong-buy” rating in a research note on Tuesday, August 6th. JPMorgan Chase & Co. increased their price target on shares of CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a report on Tuesday, August 6th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $36.00 price target on shares of CSX in a research report on Tuesday, August 6th. Sanford C. Bernstein upped their price objective on CSX from $35.00 to $36.00 and gave the company a “market perform” rating in a research report on Monday, July 8th. Finally, Susquehanna lifted 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. Seven analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average 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.