Gulf International Bank UK Ltd Sells 46,912 Shares of CSX Corporation (NASDAQ:CSX)

Key Points

• Gulf International Bank UK Ltd sold 46,912 shares of CSX Corporation, reducing its holdings by 29.3%, and now owns 113,190 shares valued at approximately $3.33 million.
• CSX reported a net margin of 21.92% and a return on equity of 25.48%, with earnings per share of $0.44 for the most recent quarter, surpassing analysts' expectations.
• The company recently announced a quarterly dividend of $0.13 per share, resulting in an annualized dividend yield of 1.4%.

Gulf International Bank UK Ltd lessened its position in CSX Corporation (NASDAQ:CSX - Free Report) by 29.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 113,190 shares of the transportation company's stock after selling 46,912 shares during the period. Gulf International Bank UK Ltd's holdings in CSX were worth $3,331,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CSX. Associated Banc Corp raised its holdings in shares of CSX by 0.9% during the first quarter. Associated Banc Corp now owns 40,384 shares of the transportation company's stock valued at $1,189,000 after purchasing an additional 356 shares during the last quarter. Portside Wealth Group LLC boosted its position in shares of CSX by 1.3% during the first quarter. Portside Wealth Group LLC now owns 27,335 shares of the transportation company's stock worth $804,000 after acquiring an additional 361 shares during the last quarter. Ullmann Wealth Partners Group LLC increased its holdings in shares of CSX by 1.3% in the 1st quarter. Ullmann Wealth Partners Group LLC now owns 29,276 shares of the transportation company's stock worth $862,000 after buying an additional 363 shares during the last quarter. LRI Investments LLC increased its position in shares of CSX by 4.8% during the 1st quarter. LRI Investments LLC now owns 8,254 shares of the transportation company's stock valued at $243,000 after purchasing an additional 375 shares during the last quarter. Finally, Patrick M Sweeney & Associates Inc. lifted its holdings in shares of CSX by 1.2% in the 1st 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 during the last quarter. Institutional investors own 73.57% of the company's stock.

CSX Price Performance

Shares of CSX stock traded down $0.03 during trading hours on Friday, reaching $36.32. 17,898,133 shares of the company's stock were exchanged, compared to its average volume of 21,141,444. CSX Corporation has a 1 year low of $26.22 and a 1 year high of $37.10. The company has a market capitalization of $67.71 billion, a P/E ratio of 22.42, a price-to-earnings-growth ratio of 2.71 and a beta of 1.25. The business has a fifty day moving average of $33.98 and a two-hundred day moving average of $31.57. 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 (NASDAQ:CSX - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.02. The firm had revenue of $3.57 billion for the quarter, compared to analysts' expectations of $3.57 billion. CSX had a net margin of 21.92% and a return on equity of 25.48%. The company's revenue was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.49 EPS. As a group, research analysts predict that CSX Corporation will post 1.83 earnings per share for the current fiscal year.

CSX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be given 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 1.4%. CSX's dividend payout ratio is presently 32.10%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Bank of America raised shares of CSX from a "neutral" rating to a "buy" rating and raised their price target for the stock from $34.00 to $42.00 in a research note on Thursday, July 17th. Raymond James Financial raised their price target on shares of CSX from $33.00 to $37.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. Deutsche Bank Aktiengesellschaft upgraded shares of CSX from a "hold" rating to a "buy" rating and set a $40.00 target price for the company in a research note on Thursday, July 24th. Susquehanna reiterated a "neutral" rating and issued a $35.00 target price on shares of CSX in a research note on Tuesday, June 24th. Finally, Sanford C. Bernstein restated 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 research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $37.00.

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.