Great Lakes Advisors LLC Sells 19,335 Shares of CSX Corporation $CSX

Key Points

• Great Lakes Advisors LLC has reduced its position in CSX Corporation by 0.7%, decreasing its holdings to 2,727,393 shares valued at approximately $80 million.
• CSX announced a quarterly dividend of $0.13, which will be paid on September 15th, reflecting a 1.6% annualized dividend yield.
• Analysts have mixed ratings for CSX, with one Strong Buy, 14 Buy ratings, and seven Hold ratings, yielding an average target price of $37.00.

Great Lakes Advisors LLC decreased its position in CSX Corporation (NASDAQ:CSX - Free Report) by 0.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,727,393 shares of the transportation company's stock after selling 19,335 shares during the quarter. Great Lakes Advisors LLC owned approximately 0.15% of CSX worth $80,081,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. CWA Asset Management Group LLC boosted its stake in CSX by 15.1% in the 1st quarter. CWA Asset Management Group LLC now owns 12,514 shares of the transportation company's stock worth $368,000 after purchasing an additional 1,642 shares in the last quarter. Dynamic Advisor Solutions LLC raised its holdings in CSX by 9.8% in the first quarter. Dynamic Advisor Solutions LLC now owns 38,757 shares of the transportation company's stock worth $1,141,000 after buying an additional 3,458 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in shares of CSX by 61.4% in the first quarter. Farther Finance Advisors LLC now owns 14,154 shares of the transportation company's stock worth $418,000 after buying an additional 5,382 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of CSX by 23.2% during the first quarter. GAMMA Investing LLC now owns 35,910 shares of the transportation company's stock valued at $1,057,000 after buying an additional 6,766 shares during the last quarter. Finally, Public Sector Pension Investment Board grew its holdings in shares of CSX by 9.3% during the first quarter. Public Sector Pension Investment Board now owns 262,505 shares of the transportation company's stock valued at $7,726,000 after buying an additional 22,367 shares during the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.

CSX Price Performance

CSX stock traded up $0.80 during mid-day trading on Thursday, hitting $32.85. The company had a trading volume of 10,278,607 shares, compared to its average volume of 16,857,225. The company has a market capitalization of $61.24 billion, a price-to-earnings ratio of 20.28, a P/E/G ratio of 2.40 and a beta of 1.25. The company has a 50-day moving average price of $34.29 and a 200 day moving average price of $31.63. 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 Corporation has a 12-month low of $26.22 and a 12-month high of $37.25.

CSX (NASDAQ:CSX - Get Free Report) last issued its quarterly earnings data 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 return on equity of 25.48% and a net margin of 21.92%.The firm had revenue of $3.57 billion during 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 business's quarterly revenue was down 3.5% compared to the same quarter last year. On average, research analysts anticipate that CSX Corporation will post 1.83 earnings per share for the current 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 paid a $0.13 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.52 dividend on an annualized basis and a yield of 1.6%. CSX's payout ratio is presently 32.10%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CSX. Royal Bank Of Canada reaffirmed a "sector perform" rating on shares of CSX in a research report on Thursday, July 24th. Citigroup lifted their target price on CSX from $36.00 to $38.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Robert W. Baird lifted their target price on CSX from $38.00 to $44.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. TD Cowen upgraded CSX from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $32.00 to $45.00 in a report on Monday, July 21st. Finally, BMO Capital Markets downgraded CSX from an "outperform" rating to a "market perform" rating and set a $38.00 price objective for the company. in a report on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, CSX presently has a consensus rating of "Moderate Buy" and an average price target of $37.00.

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.