Natixis Advisors LLC Sells 71,281 Shares of CSX Corporation (NASDAQ:CSX)

Key Points

• Natixis Advisors LLC reduced its position in CSX Corporation by 7.8%, selling over 71,000 shares and leaving them with 836,897 shares valued at approximately $24.63 million.
• CSX reported earnings of $0.44 per share for the last quarter, surpassing estimates, but experienced a 3.5% decline in revenue year-over-year.
• The company announced a quarterly dividend of $0.13 per share, reflecting a 1.5% yield, with the payout ratio currently at 32.10%.

Natixis Advisors LLC decreased its position in CSX Corporation (NASDAQ:CSX - Free Report) by 7.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 836,897 shares of the transportation company's stock after selling 71,281 shares during the quarter. Natixis Advisors LLC's holdings in CSX were worth $24,630,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CSX. Ameriprise Financial Inc. raised its holdings in shares of CSX by 89.7% during the fourth quarter. Ameriprise Financial Inc. now owns 20,856,567 shares of the transportation company's stock worth $673,025,000 after acquiring an additional 9,863,587 shares in the last quarter. Fiduciary Management Inc. WI acquired a new stake in shares of CSX in the fourth quarter valued at about $178,259,000. Bank of New York Mellon Corp grew its position in shares of 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 valued at $835,336,000 after purchasing an additional 5,033,743 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of CSX by 1,283.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 4,190,452 shares of the transportation company's stock valued at $123,786,000 after purchasing an additional 3,887,644 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in CSX during the fourth quarter worth about $117,133,000. 73.57% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on CSX. Evercore ISI decreased their price objective on CSX from $35.00 to $33.00 and set an "outperform" rating on the stock in a report on Thursday, April 17th. Barclays upped their target price on shares of CSX from $36.00 to $38.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Deutsche Bank Aktiengesellschaft upgraded shares of CSX from a "hold" rating to a "buy" rating and set a $40.00 price objective for the company in a research report on Thursday, July 24th. Jefferies Financial Group reduced their target price on shares of CSX from $37.00 to $33.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Finally, Stifel Nicolaus reduced their target price on shares of CSX from $37.00 to $34.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Seven research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $37.00.

CSX Stock Performance

Shares of CSX traded down $0.53 during mid-day trading on Friday, hitting $35.01. 19,265,718 shares of the company's stock were exchanged, compared to its average volume of 21,068,458. The company has a quick ratio of 0.63, a current ratio of 0.77 and a debt-to-equity ratio of 1.50. The firm has a market cap of $65.27 billion, a price-to-earnings ratio of 21.61, a price-to-earnings-growth ratio of 2.62 and a beta of 1.25. The stock's 50-day simple moving average is $33.14 and its 200-day simple moving average is $31.36. CSX Corporation has a 52 week low of $26.22 and a 52 week high of $37.10.

CSX (NASDAQ:CSX - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $3.57 billion. During the same quarter last year, the business posted $0.49 earnings per share. The company's quarterly revenue was down 3.5% on a year-over-year basis. On average, equities research analysts expect that CSX Corporation will post 1.83 EPS for the current year.

CSX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Friday, August 29th. CSX's payout ratio is 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.