Mizuho Securities USA LLC Cuts Position in CSX Corporation (NASDAQ:CSX)

Key Points

• Mizuho Securities USA LLC has reduced its stake in CSX Corporation by 15.5%, holding 154,408 shares valued at approximately $4.54 million.
• CSX reported a quarterly EPS of $0.44, exceeding analysts' expectations, but its revenue has declined by 3.5% year-over-year to $3.57 billion.
• The company announced a quarterly dividend of $0.13 per share, equating to an annual yield of 1.5%, with a payout ratio of 32.10%.

Mizuho Securities USA LLC reduced its stake in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 15.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 154,408 shares of the transportation company's stock after selling 28,362 shares during the quarter. Mizuho Securities USA LLC's holdings in CSX were worth $4,544,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Associated Banc Corp raised its holdings in shares of CSX by 0.9% in the 1st quarter. Associated Banc Corp now owns 40,384 shares of the transportation company's stock valued at $1,189,000 after acquiring an additional 356 shares in the last quarter. Portside Wealth Group LLC grew its position in CSX by 1.3% during the 1st quarter. Portside Wealth Group LLC now owns 27,335 shares of the transportation company's stock worth $804,000 after acquiring an additional 361 shares during the last quarter. Ullmann Wealth Partners Group LLC grew its position in CSX by 1.3% during the 1st quarter. Ullmann Wealth Partners Group LLC now owns 29,276 shares of the transportation company's stock worth $862,000 after acquiring an additional 363 shares during the last quarter. LRI Investments LLC grew its position in shares of CSX by 4.8% in the 1st quarter. LRI Investments LLC now owns 8,254 shares of the transportation company's stock worth $243,000 after buying an additional 375 shares during the last quarter. Finally, Patrick M Sweeney & Associates Inc. grew its position in shares of CSX by 1.2% in the 1st quarter. Patrick M Sweeney & Associates Inc. now owns 32,205 shares of the transportation company's stock worth $948,000 after buying an additional 378 shares during the last quarter. 73.57% of the stock is currently owned by institutional investors and hedge funds.

CSX Stock Performance

NASDAQ:CSX traded up $0.59 during mid-day trading on Tuesday, reaching $35.82. 20,809,910 shares of the company's stock were exchanged, compared to its average volume of 20,679,716. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.63 and a current ratio of 0.77. CSX Corporation has a one year low of $26.22 and a one year high of $37.10. The firm has a market capitalization of $66.78 billion, a PE ratio of 22.11, a price-to-earnings-growth ratio of 2.63 and a beta of 1.25. The business's fifty day simple moving average is $33.64 and its two-hundred day simple moving average is $31.46.

CSX (NASDAQ:CSX - Get Free Report) last issued its quarterly earnings results 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. The firm had revenue of $3.57 billion for the quarter, compared to the consensus estimate of $3.57 billion. CSX had a net margin of 21.92% and a return on equity of 25.48%. The company's revenue for the quarter was down 3.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.49 EPS. Analysts anticipate that CSX Corporation will post 1.83 earnings per share for the current fiscal 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 issued a $0.13 dividend. The ex-dividend date is Friday, August 29th. This represents a $0.52 annualized dividend and a dividend yield of 1.5%. CSX's dividend payout ratio (DPR) is currently 32.10%.

Analyst Upgrades and Downgrades

CSX has been the subject of a number of research analyst reports. Raymond James Financial raised their target price on CSX from $33.00 to $37.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. Baird R W upgraded CSX to a "strong-buy" rating in a research note on Tuesday, July 1st. Barclays boosted their price target on CSX from $36.00 to $38.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Argus set a $32.00 price objective on CSX in a report on Friday, April 25th. Finally, JPMorgan Chase & Co. boosted their price target on CSX from $34.00 to $41.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Seven analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, CSX presently has an average rating of "Moderate Buy" and a consensus target price of $37.00.

CSX 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.