CSX Corporation $CSX Stock Position Decreased by Handelsbanken Fonder AB

Key Points

• Handelsbanken Fonder AB reduced its CSX stake by 6.3% in the fourth quarter, selling 63,281 shares and ending with 937,374 shares valued at about $34.0 million.
• Analysts remain mostly positive on CSX, with a Moderate Buy consensus and an average price target of $45.58 after several firms raised their targets and maintained bullish ratings.
• CSX reported better-than-expected earnings for the quarter, posting EPS of $0.43 versus $0.39 estimated, while revenue rose 1.7% year over year and the company also declared a $0.14 quarterly dividend.

Handelsbanken Fonder AB lowered its holdings in CSX Corporation (NASDAQ:CSX - Free Report) by 6.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 937,374 shares of the transportation company's stock after selling 63,281 shares during the period. Handelsbanken Fonder AB owned about 0.05% of CSX worth $33,980,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Strengthening Families & Communities LLC bought a new stake in shares of CSX in the 3rd quarter worth approximately $2,199,000. Rathbones Group PLC grew its stake in CSX by 20.6% during the 3rd quarter. Rathbones Group PLC now owns 207,454 shares of the transportation company's stock worth $7,367,000 after buying an additional 35,403 shares during the last quarter. Canada Post Corp Registered Pension Plan grew its stake in CSX by 131.0% during the 3rd quarter. Canada Post Corp Registered Pension Plan now owns 71,918 shares of the transportation company's stock worth $2,577,000 after buying an additional 40,780 shares during the last quarter. Allstate Corp acquired a new stake in CSX in the third quarter worth $2,363,000. Finally, Cbre Investment Management Listed Real Assets LLC increased its position in CSX by 81.9% in the third quarter. Cbre Investment Management Listed Real Assets LLC now owns 944,946 shares of the transportation company's stock worth $33,555,000 after buying an additional 425,395 shares during the period. 73.57% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Sanford C. Bernstein boosted their price target on shares of CSX from $36.00 to $39.00 and gave the company a "market perform" rating in a report on Tuesday, March 31st. Royal Bank Of Canada lifted their price objective on shares of CSX from $43.00 to $47.00 and gave the company an "outperform" rating in a research report on Thursday, April 23rd. JPMorgan Chase & Co. boosted their target price on shares of CSX from $42.00 to $48.00 and gave the company an "overweight" rating in a research note on Thursday, April 23rd. Jefferies Financial Group raised their price target on shares of CSX from $50.00 to $52.00 and gave the company a "buy" rating in a research note on Thursday, April 23rd. Finally, Barclays reaffirmed an "overweight" rating and set a $47.00 price target (up from $40.00) on shares of CSX in a report on Thursday, April 23rd. Sixteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $45.58.

CSX Stock Down 0.2%

CSX stock opened at $46.10 on Wednesday. The stock has a market cap of $85.65 billion, a price-to-earnings ratio of 28.28, a PEG ratio of 2.41 and a beta of 1.24. The company has a current ratio of 0.97, a quick ratio of 0.83 and a debt-to-equity ratio of 1.34. The company's 50-day moving average price is $42.42 and its two-hundred day moving average price is $39.15. CSX Corporation has a 52 week low of $30.17 and a 52 week high of $46.55.

CSX (NASDAQ:CSX - Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The transportation company reported $0.43 EPS for the quarter, topping analysts' consensus estimates of $0.39 by $0.04. CSX had a net margin of 21.55% and a return on equity of 24.47%. The company had revenue of $3.48 billion for the quarter, compared to the consensus estimate of $3.50 billion. During the same period in the previous year, the firm earned $0.34 EPS. CSX's revenue was up 1.7% on a year-over-year basis. On average, analysts expect that CSX Corporation will post 1.89 EPS for the current fiscal year.

CSX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 29th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Friday, May 29th. CSX's payout ratio is 34.36%.

Insider Activity at CSX

In other news, CAO Diana B. Sorfleet sold 90,000 shares of CSX stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $41.56, for a total value of $3,740,400.00. Following the transaction, the chief accounting officer owned 165,613 shares of the company's stock, valued at $6,882,876.28. The trade was a 35.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Stephen F. Angel acquired 25,000 shares of the stock in a transaction dated Friday, March 6th. The stock was acquired at an average cost of $40.27 per share, for a total transaction of $1,006,750.00. Following the purchase, the chief executive officer directly owned 146,540 shares in the company, valued at approximately $5,901,165.80. The trade was a 20.57% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 0.30% of the company's stock.

About CSX

CSX Corporation is a leading North American transportation company that provides rail-based freight services and supply-chain solutions. Its operating subsidiary, CSX Transportation, moves a wide range of goods for customers across multiple industries, using a combination of long-haul rail service, intermodal operations and terminal and yard services. The company focuses on delivering efficient, reliable freight transportation between major production centers, consumption markets and port gateways.

CSX's freight portfolio includes intermodal containers and trailers, bulk commodities, industrial products and specialized unit trains.

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