CSX Corporation $CSX Position Decreased by Resolution Capital Ltd

Key Points

• Resolution Capital Ltd reduced its stake in CSX Corporation by 76.7% during the first quarter, holding 27,889 shares valued at $821,000 after selling 91,756 shares.
• CSX's recent quarterly earnings of $0.44 per share exceeded expectations, with a revenue of $3.57 billion, although it marked a 3.5% decline compared to the previous year.
• The firm announced a quarterly dividend of $0.13 per share, yielding 1.6%, with an upcoming payment date of September 15th for investors of record on August 29th.

Resolution Capital Ltd decreased its holdings in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 76.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,889 shares of the transportation company's stock after selling 91,756 shares during the period. Resolution Capital Ltd's holdings in CSX were worth $821,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Brighton Jones LLC lifted its stake in CSX by 5.5% during the fourth quarter. Brighton Jones LLC now owns 16,254 shares of the transportation company's stock valued at $525,000 after buying an additional 849 shares in the last quarter. Cetera Investment Advisers increased its position in shares of CSX by 2.8% in the fourth quarter. Cetera Investment Advisers now owns 407,245 shares of the transportation company's stock worth $13,142,000 after acquiring an additional 10,913 shares in the last quarter. EP Wealth Advisors LLC increased its position in shares of CSX by 5.9% in the fourth quarter. EP Wealth Advisors LLC now owns 131,303 shares of the transportation company's stock worth $4,237,000 after acquiring an additional 7,267 shares in the last quarter. Deutsche Bank AG increased its position in shares of CSX by 6.2% in the fourth quarter. Deutsche Bank AG now owns 8,087,257 shares of the transportation company's stock worth $260,976,000 after acquiring an additional 473,476 shares in the last quarter. Finally, Fiduciary Trust Co increased its position in shares of CSX by 8.6% in the fourth quarter. Fiduciary Trust Co now owns 49,902 shares of the transportation company's stock worth $1,610,000 after acquiring an additional 3,958 shares in the last quarter. Institutional investors own 73.57% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CSX shares. The Goldman Sachs Group reissued a "neutral" rating and issued a $35.00 target price on shares of CSX in a research report on Monday, June 2nd. Citigroup lifted their target price on shares of CSX from $36.00 to $38.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. BMO Capital Markets downgraded shares of CSX from an "outperform" rating to a "market perform" rating and set a $38.00 target price on the stock. in a research report on Monday, August 18th. Sanford C. Bernstein reissued a "market perform" rating and issued a $36.00 target price (up from $33.00) on shares of CSX in a research report on Tuesday, July 8th. Finally, Bank of America raised shares of CSX from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $34.00 to $42.00 in a research report on Thursday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $37.00.

CSX Stock Performance

CSX stock opened at $32.53 on Friday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.63 and a current ratio of 0.77. The stock has a market cap of $60.65 billion, a P/E ratio of 20.08, a P/E/G ratio of 2.44 and a beta of 1.25. The firm has a 50 day simple moving average of $34.35 and a 200 day simple moving average of $31.63. CSX Corporation has a 52 week low of $26.22 and a 52 week high of $37.25.

CSX (NASDAQ:CSX - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The transportation company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.42 by $0.02. The business had revenue of $3.57 billion during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period last year, the company posted $0.49 earnings per share. Research analysts anticipate that CSX Corporation will post 1.83 earnings per share for the current fiscal year.

CSX Dividend Announcement

The firm also recently disclosed 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. This represents a $0.52 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Friday, August 29th. CSX's dividend payout ratio (DPR) is presently 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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