CSX Corporation (NASDAQ:CSX) Shares Sold by KBC Group NV

KBC Group NV trimmed its position in CSX Corporation (NASDAQ:CSX - Free Report) by 28.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 797,091 shares of the transportation company's stock after selling 317,451 shares during the quarter. KBC Group NV's holdings in CSX were worth $23,458,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Portside Wealth Group LLC grew its holdings in shares of CSX by 1.3% in the first quarter. Portside Wealth Group LLC now owns 27,335 shares of the transportation company's stock valued at $804,000 after purchasing an additional 361 shares in the last quarter. Ullmann Wealth Partners Group LLC boosted its position in CSX by 1.3% in the 1st quarter. Ullmann Wealth Partners Group LLC now owns 29,276 shares of the transportation company's stock valued at $862,000 after buying an additional 363 shares during the period. Family Legacy Inc. grew its stake in shares of CSX by 0.6% in the fourth quarter. Family Legacy Inc. now owns 68,009 shares of the transportation company's stock worth $2,190,000 after acquiring an additional 375 shares in the last quarter. Patrick M Sweeney & Associates Inc. grew its stake in shares of CSX by 1.2% in the first quarter. Patrick M Sweeney & Associates Inc. now owns 32,205 shares of the transportation company's stock worth $948,000 after acquiring an additional 378 shares in the last quarter. Finally, Faithward Advisors LLC increased its position in shares of CSX by 1.7% during the fourth quarter. Faithward Advisors LLC now owns 23,841 shares of the transportation company's stock worth $769,000 after acquiring an additional 392 shares during the period. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

CSX Stock Performance

CSX traded down $0.18 on Thursday, hitting $33.43. 5,638,731 shares of the company traded hands, compared to its average volume of 13,268,439. CSX Corporation has a 12-month low of $26.22 and a 12-month high of $37.10. The company has a 50 day moving average of $30.98 and a 200-day moving average of $31.06. The company has a quick ratio of 0.75, a current ratio of 0.88 and a debt-to-equity ratio of 1.52. The stock has a market capitalization of $62.80 billion, a PE ratio of 20.02, a PEG ratio of 2.93 and a beta of 1.23.

CSX (NASDAQ:CSX - Get Free Report) last released its quarterly earnings results on Wednesday, April 16th. The transportation company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.05). CSX had a return on equity of 26.42% and a net margin of 22.66%. The company had revenue of $3.42 billion for the quarter, compared to analysts' expectations of $3.53 billion. Sell-side analysts anticipate that CSX Corporation will post 1.83 earnings per share for the current year.

CSX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.56%. The ex-dividend date was Friday, May 30th. CSX's payout ratio is 31.14%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Wells Fargo & Company reduced their price target on CSX from $31.00 to $28.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 17th. Susquehanna reaffirmed a "neutral" rating and set a $35.00 price target on shares of CSX in a report on Tuesday, June 24th. BMO Capital Markets lowered their price objective on CSX from $36.00 to $35.00 and set an "outperform" rating for the company in a research report on Thursday, April 17th. Citigroup cut their target price on CSX from $39.00 to $36.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Finally, Robert W. Baird started coverage on CSX in a report on Tuesday. They issued an "outperform" rating and a $38.00 price target for the company. Nine analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, CSX presently has a consensus rating of "Moderate Buy" and a consensus price target of $34.14.

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.