CSX Co. (NASDAQ:CSX) Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp trimmed its stake in CSX Co. (NASDAQ:CSX - Free Report) by 6.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 270,215 shares of the transportation company's stock after selling 19,706 shares during the quarter. Fifth Third Bancorp's holdings in CSX were worth $7,952,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP increased its position in shares of CSX by 14.7% during the fourth quarter. Wellington Management Group LLP now owns 117,579 shares of the transportation company's stock valued at $3,794,000 after acquiring an additional 15,029 shares during the last quarter. Waycross Partners LLC raised its holdings in CSX by 7.0% during the 4th quarter. Waycross Partners LLC now owns 619,471 shares of the transportation company's stock valued at $19,990,000 after acquiring an additional 40,611 shares during the period. Cercano Management LLC bought a new position in shares of CSX in the fourth quarter worth $4,869,000. Geode Capital Management LLC grew its position in shares of CSX by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 41,633,333 shares of the transportation company's stock valued at $1,339,555,000 after purchasing an additional 726,507 shares in the last quarter. Finally, Principal Securities Inc. raised its stake in shares of CSX by 6.4% during the 4th quarter. Principal Securities Inc. now owns 26,933 shares of the transportation company's stock valued at $869,000 after purchasing an additional 1,614 shares during the period. 73.57% of the stock is owned by institutional investors and hedge funds.

CSX Trading Up 1.4%

Shares of NASDAQ:CSX traded up $0.45 during trading hours on Monday, hitting $32.57. 3,718,792 shares of the company's stock traded hands, compared to its average volume of 15,395,410. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23. The business has a fifty day moving average price of $29.73 and a 200-day moving average price of $31.20. CSX Co. has a 1 year low of $26.22 and a 1 year high of $37.10. The firm has a market capitalization of $61.17 billion, a P/E ratio of 18.19, a price-to-earnings-growth ratio of 1.92 and a beta of 1.24.

CSX (NASDAQ:CSX - Get Free Report) last issued its quarterly earnings data on Wednesday, April 16th. The transportation company reported $0.34 earnings per share for the quarter, missing analysts' consensus estimates of $0.39 by ($0.05). The company had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.53 billion. CSX had a net margin of 23.95% and a return on equity of 28.15%. Equities analysts expect that CSX Co. will post 1.83 earnings per share for the current year.

CSX Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.60%. The ex-dividend date of this dividend was Friday, May 30th. CSX's payout ratio is 31.14%.

Wall Street Analyst Weigh In

CSX has been the topic of several research analyst reports. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $35.00 price target on shares of CSX in a report on Monday, June 2nd. Bank of America increased their price target on shares of CSX from $33.00 to $35.00 and gave the stock a "neutral" rating in a report on Friday. Evercore ISI cut their target price on shares of CSX from $35.00 to $33.00 and set an "outperform" rating for the company in a research report on Thursday, April 17th. Wells Fargo & Company lowered 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. Finally, BMO Capital Markets dropped their price target on CSX from $36.00 to $35.00 and set an "outperform" rating for the company in a research note on Thursday, April 17th. Eight analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $34.14.

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.