CSX Corporation (NASDAQ:CSX) is Maj Invest Holding A S's 9th Largest Position

Maj Invest Holding A S reduced its position in CSX Corporation (NASDAQ:CSX - Free Report) by 3.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,651,550 shares of the transportation company's stock after selling 155,348 shares during the quarter. CSX comprises about 4.9% of Maj Invest Holding A S's portfolio, making the stock its 9th largest position. Maj Invest Holding A S owned about 0.25% of CSX worth $136,897,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in CSX during the 4th quarter worth approximately $780,194,000. Ameriprise Financial Inc. increased its position in CSX by 89.7% during the 4th quarter. Ameriprise Financial Inc. now owns 20,856,567 shares of the transportation company's stock worth $673,025,000 after purchasing an additional 9,863,587 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its position in CSX by 471.9% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 6,748,661 shares of the transportation company's stock worth $217,808,000 after purchasing an additional 5,568,624 shares in the last quarter. Fiduciary Management Inc. WI acquired a new position in CSX in the 4th quarter valued at approximately $178,259,000. Finally, Bank of New York Mellon Corp increased its position in CSX by 21.6% in the 1st 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 acquiring an additional 5,033,743 shares during the period. 73.57% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CSX has been the subject of several recent research reports. Royal Bank Of Canada decreased their price target on shares of CSX from $31.00 to $30.00 and set a "sector perform" rating for the company in a research report on Thursday, April 17th. Wells Fargo & Company upped their price target on shares of CSX from $28.00 to $35.00 and gave the company an "equal weight" rating in a research report on Monday. Stifel Nicolaus decreased their price target on shares of CSX from $37.00 to $34.00 and set a "buy" rating for the company in a research report on Monday, April 14th. JPMorgan Chase & Co. upped their price objective on shares of CSX from $31.00 to $34.00 and gave the company an "overweight" rating in a research note on Tuesday. Finally, BMO Capital Markets decreased their price objective on shares of CSX from $36.00 to $35.00 and set an "outperform" rating for the company in a research report on Thursday, April 17th. Nine equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, CSX has an average rating of "Moderate Buy" and an average price target of $34.32.

CSX Stock Up 0.8%

Shares of CSX stock traded up $0.26 during trading hours on Tuesday, reaching $33.31. The company's stock had a trading volume of 4,333,339 shares, compared to its average volume of 13,277,863. The stock's fifty day simple moving average is $31.30 and its two-hundred day simple moving average is $31.06. The company has a market capitalization of $62.57 billion, a P/E ratio of 19.95, a P/E/G ratio of 2.94 and a beta of 1.23. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.75 and a current ratio of 0.88. CSX Corporation has a one year low of $26.22 and a one year high of $37.10.

CSX (NASDAQ:CSX - Get Free Report) last announced its earnings results on Wednesday, April 16th. The transportation company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.05). The firm had revenue of $3.42 billion during the quarter, compared to analysts' expectations of $3.53 billion. CSX had a net margin of 22.66% and a return on equity of 26.42%. On average, research analysts forecast 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 was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were issued a $0.13 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.52 annualized dividend and a dividend yield of 1.56%. CSX's dividend payout ratio is currently 31.14%.

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.