Allianz SE Has $5.69 Million Position in 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 cut its position in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 8.4% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 193,239 shares of the transportation company's stock after selling 17,796 shares during the quarter. Allianz SE's holdings in CSX were worth $5,687,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of CSX during the 4th quarter worth approximately $27,000. Rossby Financial LCC bought a new stake in shares of CSX during the 1st quarter worth $28,000. Accredited Wealth Management LLC purchased a new stake in shares of CSX in the fourth quarter valued at $29,000. Fourth Dimension Wealth LLC purchased a new stake in shares of CSX in the fourth quarter valued at $29,000. Finally, Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of CSX during the first quarter worth $30,000. 73.57% of the stock is owned by institutional investors and hedge funds.

CSX Stock Down 1.3%

CSX stock traded down $0.47 on Thursday, hitting $35.55. 5,995,870 shares of the stock traded hands, compared to its average volume of 15,957,087. CSX Corporation has a 1 year low of $26.22 and a 1 year high of $37.10. The business's fifty day simple moving average is $33.41 and its 200 day simple moving average is $31.44. The company has a current ratio of 0.77, a quick ratio of 0.63 and a debt-to-equity ratio of 1.50. The firm has a market cap of $66.27 billion, a P/E ratio of 21.95, a price-to-earnings-growth ratio of 2.67 and a beta of 1.25.

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

CSX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Friday, August 29th. CSX's dividend payout ratio (DPR) is presently 32.10%.

Analyst Upgrades and Downgrades

CSX has been the subject of a number of analyst reports. Susquehanna reaffirmed a "neutral" rating and set a $35.00 price objective on shares of CSX in a research note on Tuesday, June 24th. Benchmark raised their target price on CSX from $37.00 to $40.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Baird R W raised CSX to a "strong-buy" rating in a research report on Tuesday, July 1st. Royal Bank Of Canada restated a "sector perform" rating on shares of CSX in a research note on Thursday, July 24th. Finally, TD Cowen upgraded CSX from a "hold" rating to a "buy" rating and increased their target price for the stock from $32.00 to $45.00 in a research report on Monday, July 21st. Seven investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, CSX has a consensus rating of "Moderate Buy" and an average price target of $37.00.

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.