Natixis Advisors LLC Lowers Holdings in 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 trimmed its position in CSX Corporation (NASDAQ:CSX - Free Report) by 7.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 836,897 shares of the transportation company's stock after selling 71,281 shares during the period. Natixis Advisors LLC's holdings in CSX were worth $24,630,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Marshall & Sterling Wealth Advisors Inc. bought a new stake in CSX in the 4th quarter valued at about $27,000. Rossby Financial LCC purchased a new position in CSX in the 1st quarter valued at approximately $28,000. Accredited Wealth Management LLC purchased a new position in CSX in the 4th quarter valued at approximately $29,000. Fourth Dimension Wealth LLC purchased a new stake in shares of CSX during the fourth quarter worth $29,000. Finally, Barnes Dennig Private Wealth Management LLC bought a new position in shares of CSX in the first quarter worth $30,000. 73.57% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CSX has been the subject of several analyst reports. Baird R W upgraded CSX to a "strong-buy" rating in a research note on Tuesday, July 1st. Robert W. Baird boosted their price objective on shares of CSX from $38.00 to $44.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. BMO Capital Markets increased their target price on shares of CSX from $36.00 to $38.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. TD Cowen upgraded shares of CSX from a "hold" rating to a "buy" rating and boosted their price target for the company from $32.00 to $45.00 in a research report on Monday, July 21st. Finally, Barclays increased their price objective on CSX from $36.00 to $38.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Seven equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $37.00.

CSX Trading Up 1.0%

Shares of NASDAQ:CSX traded up $0.36 on Wednesday, hitting $36.01. The company had a trading volume of 12,123,184 shares, compared to its average volume of 16,025,251. The firm has a market capitalization of $67.13 billion, a price-to-earnings ratio of 22.23, a P/E/G ratio of 2.65 and a beta of 1.25. The firm's 50-day simple moving average is $33.32 and its two-hundred day simple moving average is $31.41. CSX Corporation has a 1 year low of $26.22 and a 1 year high of $37.10. The company has a quick ratio of 0.63, a current ratio of 0.77 and a debt-to-equity ratio of 1.50.

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

CSX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be paid a $0.13 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.52 annualized dividend and a dividend yield of 1.4%. CSX's dividend payout ratio (DPR) is 32.10%.

About CSX

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.