CSX Corporation $CSX Shares Sold by Cbre Investment Management Listed Real Assets LLC

Key Points

• Cbre Investment Management Listed Real Assets LLC reduced its stake in CSX Corporation by 65.1%, owning 1,497,603 shares after selling 2,797,461 shares during the first quarter.
• Several institutional investors have recently made new stakes in CSX, increasing the total institutional ownership to 73.57%.
• CSX announced a quarterly dividend of $0.13 per share with a 1.5% yield, set to be paid on September 15th.

Cbre Investment Management Listed Real Assets LLC cut its position in CSX Corporation (NASDAQ:CSX - Free Report) by 65.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,497,603 shares of the transportation company's stock after selling 2,797,461 shares during the quarter. Cbre Investment Management Listed Real Assets LLC owned approximately 0.08% of CSX worth $44,074,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its holdings in CSX by 21.6% in the first quarter. Bank of New York Mellon Corp now owns 28,383,830 shares of the transportation company's stock worth $835,336,000 after purchasing an additional 5,033,743 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in CSX by 12.5% in the first quarter. Ameriprise Financial Inc. now owns 23,456,085 shares of the transportation company's stock worth $690,359,000 after purchasing an additional 2,599,518 shares in the last quarter. Northern Trust Corp increased its holdings in shares of CSX by 4.6% during the first quarter. Northern Trust Corp now owns 22,067,356 shares of the transportation company's stock valued at $649,442,000 after acquiring an additional 969,567 shares in the last quarter. Lazard Asset Management LLC increased its holdings in shares of CSX by 3.5% during the fourth quarter. Lazard Asset Management LLC now owns 21,124,807 shares of the transportation company's stock valued at $681,696,000 after acquiring an additional 707,934 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of CSX by 11.0% during the first quarter. Dimensional Fund Advisors LP now owns 18,742,431 shares of the transportation company's stock valued at $551,540,000 after acquiring an additional 1,856,322 shares in the last quarter. 73.57% of the stock is currently owned by institutional investors.

CSX Stock Performance

NASDAQ:CSX traded up $0.13 during midday trading on Thursday, hitting $32.67. The company's stock had a trading volume of 7,166,784 shares, compared to its average volume of 17,047,711. The firm has a market cap of $60.90 billion, a P/E ratio of 20.16, a P/E/G ratio of 2.42 and a beta of 1.25. CSX Corporation has a fifty-two week low of $26.22 and a fifty-two week high of $37.25. The firm's 50 day moving average is $34.35 and its 200-day moving average is $31.67. 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 for the quarter, beating the consensus estimate of $0.42 by $0.02. CSX had a net margin of 21.92% and a return on equity of 25.48%. The firm had revenue of $3.57 billion during the quarter, compared to analyst estimates of $3.57 billion. During the same period in the previous year, the firm earned $0.49 EPS. The business's quarterly revenue was down 3.5% on a year-over-year basis. Equities analysts anticipate that CSX Corporation will post 1.83 earnings per share for the current fiscal year.

CSX Dividend Announcement

The company also recently announced 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 dividend yield of 1.6%. The ex-dividend date is Friday, August 29th. CSX's payout ratio is currently 32.10%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on CSX shares. Wall Street Zen downgraded shares of CSX from a "hold" rating to a "sell" rating in a report on Friday, August 22nd. BMO Capital Markets downgraded shares of CSX from an "outperform" rating to a "market perform" rating and set a $38.00 price objective on the stock. in a report on Monday, August 18th. Raymond James Financial upped their price objective on shares of CSX from $33.00 to $37.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. Sanford C. Bernstein restated a "market perform" rating and set a $36.00 price objective (up previously from $33.00) on shares of CSX in a report on Tuesday, July 8th. Finally, Citigroup upped their price objective on shares of CSX from $36.00 to $38.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, CSX has a consensus rating of "Moderate Buy" and an average price target of $37.00.

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.