Lansforsakringar Fondforvaltning AB publ Sells 11,616 Shares of CSX Corporation $CSX

Key Points

• Lansforsakringar Fondforvaltning AB publ reduced its stake in CSX Corporation by 1.8%, owning 617,793 shares worth approximately $18.18 million after selling 11,616 shares in the first quarter.
• CSX announced a quarterly dividend of $0.13 per share, translating to an annualized yield of 1.6%, to be paid on September 15th.
• Analysts have a consensus rating of "Moderate Buy" on CSX, with a price target of $37.00, indicating confidence in the stock's future performance.

Lansforsakringar Fondforvaltning AB publ lowered its position in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 1.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 617,793 shares of the transportation company's stock after selling 11,616 shares during the quarter. Lansforsakringar Fondforvaltning AB publ's holdings in CSX were worth $18,182,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Accredited Wealth Management LLC acquired a new stake in shares of CSX during the fourth quarter valued at approximately $29,000. Fourth Dimension Wealth LLC acquired a new position in CSX in the 4th quarter valued at approximately $29,000. Barnes Dennig Private Wealth Management LLC acquired a new position in CSX in the 1st quarter valued at approximately $30,000. Rossby Financial LCC acquired a new position in CSX in the 1st quarter valued at approximately $28,000. Finally, Kessler Investment Group LLC acquired a new position in CSX in the 1st quarter valued at approximately $32,000. Institutional investors and hedge funds own 73.57% of the company's stock.

CSX Stock Down 0.9%

Shares of CSX traded down $0.29 during mid-day trading on Tuesday, hitting $32.23. 6,936,144 shares of the company's stock were exchanged, compared to its average volume of 17,037,000. The firm has a fifty day moving average of $34.37 and a two-hundred day moving average of $31.64. CSX Corporation has a twelve month low of $26.22 and a twelve month high of $37.25. The stock has a market cap of $60.08 billion, a price-to-earnings ratio of 19.88, a P/E/G ratio of 2.43 and a beta of 1.25. 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 EPS for the quarter, topping the consensus estimate of $0.42 by $0.02. The company had revenue of $3.57 billion for the quarter, compared to analyst estimates of $3.57 billion. CSX had a net margin of 21.92% and a return on equity of 25.48%. CSX's quarterly revenue was down 3.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.49 EPS. On average, sell-side analysts forecast that CSX Corporation will post 1.83 earnings per share for the current year.

CSX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, August 29th. CSX's dividend payout ratio is currently 32.10%.

Analysts Set New Price Targets

CSX has been the topic of several research reports. BMO Capital Markets lowered shares of CSX from an "outperform" rating to a "market perform" rating and set a $38.00 price objective on the stock. in a research note on Monday, August 18th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $35.00 price objective on shares of CSX in a research note on Monday, June 2nd. Citigroup upped their price objective on shares of CSX from $36.00 to $38.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Deutsche Bank Aktiengesellschaft upgraded shares of CSX from a "hold" rating to a "buy" rating and set a $40.00 price objective on the stock in a research note on Thursday, July 24th. Finally, Baird R W upgraded shares of CSX to a "strong-buy" rating in a research note on Tuesday, July 1st. 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 data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $37.00.

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.