Jones Financial Companies Lllp Sells 319,554 Shares of CSX Corporation $CSX

Key Points

• Jones Financial Companies Lllp has significantly reduced its stake in CSX Corporation by 48.6%, owning 338,001 shares valued at approximately $9.95 million after selling 319,554 shares.
• Several institutional investors, including Nuveen LLC and Bank of New York Mellon Corp, have increased their positions in CSX, indicating a change in institutional interest with 73.57% of the stock now owned by these entities.
• CSX recently announced a quarterly dividend of $0.13 per share, reflecting an annualized yield of 1.6%, with the ex-dividend date set for August 29th.

Jones Financial Companies Lllp trimmed its stake in CSX Corporation (NASDAQ:CSX - Free Report) by 48.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 338,001 shares of the transportation company's stock after selling 319,554 shares during the period. Jones Financial Companies Lllp's holdings in CSX were worth $9,955,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Fourth Dimension Wealth LLC acquired a new stake in CSX in the 4th quarter worth $29,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in CSX in the 1st quarter worth $30,000. Rossby Financial LCC acquired a new stake in CSX in the 1st quarter worth $28,000. Kessler Investment Group LLC acquired a new stake in CSX in the 1st quarter worth $32,000. Finally, Putney Financial Group LLC acquired a new stake in CSX in the 4th quarter worth $44,000. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CSX. Bank of America upgraded shares of CSX from a "neutral" rating to a "buy" rating and lifted their target price for the company from $34.00 to $42.00 in a research report on Thursday, July 17th. Deutsche Bank Aktiengesellschaft upgraded shares of CSX from a "hold" rating to a "buy" rating and set a $40.00 target price on the stock in a research report on Thursday, July 24th. Benchmark lifted their target price 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. Royal Bank Of Canada reiterated a "sector perform" rating on shares of CSX in a research report on Thursday, July 24th. Finally, JPMorgan Chase & Co. lifted their target price on shares of CSX from $34.00 to $41.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $37.00.

CSX Price Performance

Shares of NASDAQ:CSX traded down $0.38 during trading on Friday, reaching $32.47. The stock had a trading volume of 9,253,621 shares, compared to its average volume of 21,497,084. CSX Corporation has a 52 week low of $26.22 and a 52 week high of $37.25. The business's 50-day moving average price is $34.26 and its 200 day moving average price is $31.63. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.77 and a quick ratio of 0.63. The stock has a market capitalization of $60.53 billion, a PE ratio of 20.04, a P/E/G ratio of 2.42 and a beta of 1.25.

CSX (NASDAQ:CSX - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.42 by $0.02. CSX had a net margin of 21.92% and a return on equity of 25.48%. The company had revenue of $3.57 billion during the quarter, compared to analysts' expectations of $3.57 billion. During the same quarter in the previous year, the company posted $0.49 earnings per share. CSX's quarterly revenue was down 3.5% compared to the same quarter last year. As a group, equities analysts predict that CSX Corporation will post 1.83 earnings per share for the current year.

CSX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be paid a $0.13 dividend. The ex-dividend date is Friday, August 29th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.6%. CSX's payout ratio is 32.10%.

CSX Company 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.