Guggenheim Capital LLC Sells 76,198 Shares of CSX Corporation $CSX

Key Points

• Guggenheim Capital LLC has reduced its stake in CSX Corporation by 13.5%, selling 76,198 shares and holding 488,991 shares worth approximately $14.39 million after the sale.
• Several other institutional investors have also made moves with CSX stock, with a collective ownership of 73.57% among institutional investors and hedge funds.
• CSX recently reported earnings of $0.44 per share, beating estimates, but saw a 3.5% decrease in quarterly revenue compared to the previous year.

Guggenheim Capital LLC cut its stake in CSX Corporation (NASDAQ:CSX - Free Report) by 13.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 488,991 shares of the transportation company's stock after selling 76,198 shares during the period. Guggenheim Capital LLC's holdings in CSX were worth $14,391,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Rossby Financial LCC acquired a new position in CSX during the first quarter worth $28,000. Accredited Wealth Management LLC acquired a new stake in shares of CSX during the 4th quarter worth about $29,000. Fourth Dimension Wealth LLC bought a new position in CSX during the 4th quarter valued at about $29,000. Barnes Dennig Private Wealth Management LLC acquired a new position in CSX in the first quarter valued at about $30,000. Finally, Kessler Investment Group LLC bought a new stake in CSX during the first quarter worth about $32,000. Institutional investors and hedge funds own 73.57% of the company's stock.

Analyst Upgrades and Downgrades

CSX has been the subject of a number of research analyst reports. TD Cowen upgraded shares of CSX from a "hold" rating to a "buy" rating and lifted their target price for the company from $32.00 to $45.00 in a research note on Monday, July 21st. Deutsche Bank Aktiengesellschaft upgraded CSX from a "hold" rating to a "buy" rating and set a $40.00 price objective for the company in a research report on Thursday, July 24th. Robert W. Baird increased 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. JPMorgan Chase & Co. lifted their price target on CSX from $34.00 to $41.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Finally, Benchmark raised their price objective on shares of CSX from $37.00 to $40.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $37.00.

CSX Price Performance

CSX stock opened at $32.54 on Thursday. The business's 50-day simple moving average is $34.35 and its 200 day simple moving average is $31.67. The company has a quick ratio of 0.63, a current ratio of 0.77 and a debt-to-equity ratio of 1.50. The stock has a market cap of $60.66 billion, a price-to-earnings ratio of 20.09, a P/E/G ratio of 2.42 and a beta of 1.25. 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 announced its quarterly earnings data on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.02. The firm had revenue of $3.57 billion during the quarter, compared to analysts' expectations of $3.57 billion. CSX had a return on equity of 25.48% and a net margin of 21.92%.The company's quarterly revenue was down 3.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.49 EPS. As a group, research analysts anticipate that CSX Corporation will post 1.83 earnings per share for the current year.

CSX Dividend Announcement

The firm 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 dividend payout ratio (DPR) is presently 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.

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