CSX Corporation (NASDAQ:CSX) Shares Sold by US Bancorp DE

Key Points

• US Bancorp DE has reduced its stake in CSX Corporation by 2.2%, selling 22,313 shares, and now owns 970,380 shares valued at approximately $28.56 million.
• CSX reported $0.44 EPS for its last quarter, surpassing the expected $0.42, although its revenue of $3.57 billion was down 3.5% year-over-year.
• The company announced a quarterly dividend of $0.13 per share, representing an annual yield of 1.5% with a payout ratio of 32.10%.

US Bancorp DE reduced its stake in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 2.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 970,380 shares of the transportation company's stock after selling 22,313 shares during the period. US Bancorp DE owned 0.05% of CSX worth $28,558,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in CSX in the 4th quarter worth approximately $27,000. Accredited Wealth Management LLC purchased a new stake in CSX in the 4th quarter worth approximately $29,000. Fourth Dimension Wealth LLC purchased a new stake in CSX in the 4th quarter worth approximately $29,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in CSX in the 1st quarter worth approximately $30,000. Finally, Rossby Financial LCC purchased a new stake in CSX in the 1st quarter worth approximately $28,000. 73.57% of the stock is currently owned by institutional investors and hedge funds.

CSX Stock Performance

NASDAQ:CSX opened at $35.01 on Friday. The company has a current ratio of 0.77, a quick ratio of 0.63 and a debt-to-equity ratio of 1.50. The firm has a market capitalization of $65.27 billion, a price-to-earnings ratio of 21.61, a PEG ratio of 2.62 and a beta of 1.25. The firm's fifty day simple moving average is $33.14 and its 200 day simple moving average is $31.37. CSX Corporation has a twelve month low of $26.22 and a twelve month high of $37.10.

CSX (NASDAQ:CSX - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The transportation company reported $0.44 EPS for the quarter, topping 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 in the previous year, the business posted $0.49 EPS. The firm's revenue was down 3.5% compared to the same quarter last year. As a group, equities research analysts expect that CSX Corporation will post 1.83 earnings per share for the current fiscal year.

CSX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be issued a $0.13 dividend. The ex-dividend date is Friday, August 29th. This represents a $0.52 dividend on an annualized basis and a yield of 1.5%. CSX's payout ratio is currently 32.10%.

Analysts Set New Price Targets

CSX has been the subject of several recent analyst reports. Robert W. Baird lifted their target price on shares of CSX from $38.00 to $44.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. Argus set a $32.00 price objective on shares of CSX in a research note on Friday, April 25th. The Goldman Sachs Group reissued a "neutral" rating and set a $35.00 price objective on shares of CSX in a research note on Monday, June 2nd. Evercore ISI lowered their price objective on shares of CSX from $35.00 to $33.00 and set an "outperform" rating for the company in a research note on Thursday, April 17th. Finally, Sanford C. Bernstein reissued a "market perform" rating and set a $36.00 price objective (up from $33.00) on shares of CSX in a research note on Tuesday, July 8th. Seven analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $37.00.

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.

Want to see what other hedge funds are holding CSX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CSX Corporation (NASDAQ:CSX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.