OMERS ADMINISTRATION Corp Decreases Stake in CSX Corporation $CSX

Key Points

• OMERS ADMINISTRATION Corp has reduced its stake in CSX Corporation by 14.2%, now holding 70,793 shares valued at approximately $2.08 million.
• CSX reported quarterly earnings of $0.44 per share, surpassing analyst predictions of $0.42, despite a 3.5% drop in revenue compared to the previous year.
• Several analysts have upgraded their ratings for CSX, with Bank of America raising their price target from $34.00 to $42.00.

OMERS ADMINISTRATION Corp decreased its holdings in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 14.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,793 shares of the transportation company's stock after selling 11,762 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in CSX were worth $2,083,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Rossby Financial LCC acquired a new stake in CSX during the 1st quarter valued at $28,000. Accredited Wealth Management LLC acquired a new stake in CSX during the 4th quarter valued at $29,000. Fourth Dimension Wealth LLC acquired a new stake in shares of CSX during the fourth quarter worth $29,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of CSX during the first quarter worth $30,000. Finally, Kessler Investment Group LLC acquired a new stake in shares of CSX during the first quarter worth $32,000. Institutional investors and hedge funds own 73.57% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Benchmark lifted their target price on CSX from $37.00 to $40.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Wall Street Zen cut CSX from a "hold" rating to a "sell" rating in a research report on Friday, August 22nd. Baird R W upgraded CSX to a "strong-buy" rating in a report on Tuesday, July 1st. Bank of America upgraded CSX from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $34.00 to $42.00 in a report on Thursday, July 17th. Finally, Raymond James Financial upped their target price on CSX from $33.00 to $37.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $37.00.

CSX Stock Down 1.0%

Shares of CSX traded down $0.32 during trading hours on Friday, reaching $32.34. The stock had a trading volume of 3,399,274 shares, compared to its average volume of 16,953,475. The company has a market capitalization of $60.29 billion, a price-to-earnings ratio of 19.98, a P/E/G ratio of 2.41 and a beta of 1.25. The firm has a 50-day simple moving average of $34.36 and a 200 day simple moving average of $31.64. CSX Corporation has a 12 month low of $26.22 and a 12 month high of $37.25. The company has a current ratio of 0.77, a quick ratio of 0.63 and a debt-to-equity ratio of 1.50.

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

CSX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.52 annualized dividend and a dividend yield of 1.6%. CSX's dividend payout ratio (DPR) is currently 32.10%.

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.