Allianz SE Sells 17,796 Shares of CSX Corporation (NASDAQ:CSX)

Key Points

• Allianz SE has reduced its stake in CSX Corporation by 8.4%, now holding 193,239 shares valued at approximately $5.69 million.
• Analysts have mixed outlooks on CSX, with price targets ranging from $33.00 to $44.00, and an overall consensus rating of "Moderate Buy".
• CSX announced a quarterly dividend of $0.13 per share, reflecting an annual yield of 1.5% with a payout ratio of 32.10%.

Allianz SE lowered its position in CSX Corporation (NASDAQ:CSX - Free Report) by 8.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 193,239 shares of the transportation company's stock after selling 17,796 shares during the period. Allianz SE's holdings in CSX were worth $5,687,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in CSX. Wellington Management Group LLP raised its stake in shares of CSX by 14.7% during the fourth quarter. Wellington Management Group LLP now owns 117,579 shares of the transportation company's stock valued at $3,794,000 after acquiring an additional 15,029 shares in the last quarter. CWA Asset Management Group LLC raised its stake in shares of CSX by 15.1% during the first quarter. CWA Asset Management Group LLC now owns 12,514 shares of the transportation company's stock valued at $368,000 after acquiring an additional 1,642 shares in the last quarter. Dynamic Advisor Solutions LLC raised its stake in shares of CSX by 9.8% during the first quarter. Dynamic Advisor Solutions LLC now owns 38,757 shares of the transportation company's stock valued at $1,141,000 after acquiring an additional 3,458 shares in the last quarter. Farther Finance Advisors LLC raised its stake in CSX by 61.4% in the first quarter. Farther Finance Advisors LLC now owns 14,154 shares of the transportation company's stock worth $418,000 after buying an additional 5,382 shares in the last quarter. Finally, Cercano Management LLC bought a new position in CSX in the fourth quarter worth approximately $4,869,000. Institutional investors own 73.57% of the company's stock.

Analysts Set New Price Targets

CSX has been the subject of a number of recent research reports. Evercore ISI reduced their price objective on shares of CSX from $35.00 to $33.00 and set an "outperform" rating for the company in a research note on Thursday, April 17th. UBS Group reduced their price objective on shares of CSX from $36.00 to $34.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Bank of America raised shares of CSX from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $34.00 to $42.00 in a research note on Thursday, July 17th. Barclays boosted their price objective on shares of CSX from $36.00 to $38.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Finally, Robert W. Baird lifted their price target on shares of CSX from $38.00 to $44.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. Seven research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $37.00.

CSX Trading Down 1.5%

NASDAQ CSX opened at $35.01 on Friday. The company has a market capitalization of $65.27 billion, a PE ratio of 21.61, a P/E/G ratio of 2.62 and a beta of 1.25. The company has a fifty day moving average of $33.14 and a 200 day moving average of $31.37. CSX Corporation has a 1 year low of $26.22 and a 1 year high of $37.10. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.77 and a quick ratio of 0.63.

CSX (NASDAQ:CSX - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.42 by $0.02. The company had revenue of $3.57 billion during the quarter, compared to the consensus estimate of $3.57 billion. CSX had a net margin of 21.92% and a return on equity of 25.48%. The firm's quarterly revenue was down 3.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.49 earnings per share. Research analysts forecast that CSX Corporation will post 1.83 earnings per share for the current year.

CSX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be given a dividend of $0.13 per share. The ex-dividend date is Friday, August 29th. This represents a $0.52 dividend on an annualized basis and a yield of 1.5%. CSX's payout ratio is currently 32.10%.

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.

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