CSX Corporation (NASDAQ:CSX) Shares Sold by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC decreased its position in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 42.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,829,862 shares of the transportation company's stock after selling 2,091,916 shares during the quarter. Manning & Napier Advisors LLC owned approximately 0.15% of CSX worth $83,283,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of CSX. Marshall & Sterling Wealth Advisors Inc. acquired a new position in CSX in the fourth quarter valued at about $27,000. Accredited Wealth Management LLC acquired a new position in CSX in the fourth quarter valued at about $29,000. Fourth Dimension Wealth LLC acquired a new position in CSX in the fourth quarter valued at about $29,000. SBI Securities Co. Ltd. acquired a new position in CSX in the fourth quarter valued at about $31,000. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its position in CSX by 219.0% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,040 shares of the transportation company's stock valued at $34,000 after buying an additional 714 shares during the last quarter. Institutional investors and hedge funds own 73.57% of the company's stock.

CSX Stock Up 1.1%

Shares of CSX stock traded up $0.36 during trading hours on Monday, reaching $32.42. 12,350,010 shares of the stock were exchanged, compared to its average volume of 13,294,795. The business's fifty day moving average is $30.16 and its two-hundred day moving average is $31.07. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.88 and a quick ratio of 0.75. CSX Corporation has a 12-month low of $26.22 and a 12-month high of $37.10. The firm has a market capitalization of $60.90 billion, a P/E ratio of 19.41, a P/E/G ratio of 2.81 and a beta of 1.24.

CSX (NASDAQ:CSX - Get Free Report) last announced its quarterly earnings results on Wednesday, April 16th. The transportation company reported $0.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.39 by ($0.05). The business had revenue of $3.42 billion during the quarter, compared to analyst estimates of $3.53 billion. CSX had a net margin of 22.66% and a return on equity of 26.42%. As a group, research analysts expect that CSX Corporation will post 1.83 EPS for the current fiscal year.

CSX Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date was Friday, May 30th. CSX's dividend payout ratio (DPR) is 31.14%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CSX. Susquehanna decreased their target price on shares of CSX from $37.00 to $35.00 and set a "positive" rating on the stock in a research report on Thursday, April 17th. Benchmark reaffirmed a "buy" rating and issued a $35.00 target price on shares of CSX in a research report on Thursday, April 17th. Bank of America boosted their price target on shares of CSX from $33.00 to $35.00 and gave the stock a "neutral" rating in a research note on Friday, June 13th. Wells Fargo & Company cut their price target on shares of CSX from $31.00 to $28.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 17th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of CSX in a research note on Friday, March 7th. They set a "hold" rating and a $34.00 price target on the stock. Eight investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $34.14.

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.