IFM Investors Pty Ltd Sells 78,281 Shares of CSX Corporation $CSX

Key Points

• IFM Investors Pty Ltd has reduced its stake in CSX Corporation by 14.2%, selling 78,281 shares and now holding 474,889 shares valued at approximately $13.98 million.
• Several institutional investors, including Bank of New York Mellon and Ameriprise Financial, have increased their holdings in CSX during the first quarter, reflecting a strong interest in the stock.
• CSX recently reported quarterly earnings of $0.44 per share, exceeding analysts' expectations, although its revenue declined by 3.5% compared to the previous year.

IFM Investors Pty Ltd lowered its stake in CSX Corporation (NASDAQ:CSX - Free Report) by 14.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 474,889 shares of the transportation company's stock after selling 78,281 shares during the quarter. IFM Investors Pty Ltd's holdings in CSX were worth $13,976,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Bank of New York Mellon Corp lifted its position in CSX by 21.6% in the first quarter. Bank of New York Mellon Corp now owns 28,383,830 shares of the transportation company's stock valued at $835,336,000 after purchasing an additional 5,033,743 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of CSX by 12.5% during the first quarter. Ameriprise Financial Inc. now owns 23,456,085 shares of the transportation company's stock valued at $690,359,000 after acquiring an additional 2,599,518 shares in the last quarter. Northern Trust Corp raised its holdings in shares of CSX by 4.6% during the first quarter. Northern Trust Corp now owns 22,067,356 shares of the transportation company's stock valued at $649,442,000 after acquiring an additional 969,567 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of CSX by 11.0% during the first quarter. Dimensional Fund Advisors LP now owns 18,742,431 shares of the transportation company's stock valued at $551,540,000 after acquiring an additional 1,856,322 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of CSX by 19.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 15,312,107 shares of the transportation company's stock valued at $450,635,000 after acquiring an additional 2,454,895 shares in the last quarter. Institutional investors own 73.57% of the company's stock.

CSX Price Performance

CSX opened at $32.05 on Thursday. The stock has a fifty day simple moving average of $34.29 and a two-hundred day simple moving average of $31.63. 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 company has a market cap of $59.75 billion, a price-to-earnings ratio of 19.78, a price-to-earnings-growth ratio of 2.40 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 posted its quarterly earnings data on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share (EPS) for the quarter, topping 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 business had revenue of $3.57 billion during the quarter, compared to the consensus estimate of $3.57 billion. During the same quarter in the prior year, the company earned $0.49 earnings per share. The firm's quarterly revenue was down 3.5% compared to the same quarter last year. 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 declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be issued a dividend of $0.13 per share. The ex-dividend date is Friday, August 29th. This represents a $0.52 annualized dividend and a dividend yield of 1.6%. CSX's dividend payout ratio (DPR) is presently 32.10%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CSX. Bank of America upgraded CSX from a "neutral" rating to a "buy" rating and upped their target price for the company from $34.00 to $42.00 in a report on Thursday, July 17th. Royal Bank Of Canada restated a "sector perform" rating on shares of CSX in a report on Thursday, July 24th. JPMorgan Chase & Co. upped their target price on CSX from $34.00 to $41.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Baird R W upgraded CSX to a "strong-buy" rating in a report on Tuesday, July 1st. 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 equities 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 target price 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.

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