CSX Corporation $CSX Shares Sold by Nomura Holdings Inc.

Key Points

• Nomura Holdings Inc. has reduced its stake in CSX Corporation by 71.2%, owning 70,949 shares valued at approximately $2.08 million after selling over 175,000 shares in the first quarter.
• CSX reported earnings of $0.44 per share for the last quarter, exceeding estimates by $0.02, while revenue was $3.57 billion, matching analyst expectations.
• The company announced a quarterly dividend of $0.13 per share, with a payout ratio of 32.10% and an annualized yield of 1.6%.

Nomura Holdings Inc. decreased its holdings in CSX Corporation (NASDAQ:CSX - Free Report) by 71.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 70,949 shares of the transportation company's stock after selling 175,568 shares during the period. Nomura Holdings Inc.'s holdings in CSX were worth $2,088,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of CSX. Associated Banc Corp lifted its stake in shares of CSX by 0.9% during the 1st quarter. Associated Banc Corp now owns 40,384 shares of the transportation company's stock worth $1,189,000 after purchasing an additional 356 shares during the last quarter. Portside Wealth Group LLC boosted its holdings in shares of CSX by 1.3% in the 1st quarter. Portside Wealth Group LLC now owns 27,335 shares of the transportation company's stock valued at $804,000 after buying an additional 361 shares in the last quarter. Ullmann Wealth Partners Group LLC boosted its holdings in shares of CSX by 1.3% in the 1st quarter. Ullmann Wealth Partners Group LLC now owns 29,276 shares of the transportation company's stock valued at $862,000 after buying an additional 363 shares in 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. raised its stake in shares of CSX by 1.2% during the 1st quarter. Patrick M Sweeney & Associates Inc. now owns 32,205 shares of the transportation company's stock worth $948,000 after acquiring an additional 378 shares in the last quarter. Institutional investors own 73.57% of the company's stock.

Analyst Ratings Changes

Several brokerages have weighed in on CSX. JPMorgan Chase & Co. raised their target price on shares of CSX from $34.00 to $41.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Sanford C. Bernstein reissued a "market perform" rating and issued a $36.00 price objective (up previously from $33.00) on shares of CSX in a research report on Tuesday, July 8th. Deutsche Bank Aktiengesellschaft upgraded CSX from a "hold" rating to a "buy" rating and set a $40.00 target price on the stock in a research note on Thursday, July 24th. Bank of America upgraded CSX from a "neutral" rating to a "buy" rating and increased their price target for the company from $34.00 to $42.00 in a research note on Thursday, July 17th. Finally, Royal Bank Of Canada reissued a "sector perform" rating on shares of CSX in a report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, CSX has a consensus rating of "Moderate Buy" and a consensus target price of $37.00.

CSX Stock Performance

CSX stock traded down $0.13 during trading hours on Friday, hitting $32.53. 9,676,379 shares of the stock traded hands, compared to its average volume of 23,782,704. The firm's 50 day moving average price is $34.35 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 $60.64 billion, a price-to-earnings ratio of 20.08, a P/E/G ratio of 2.44 and a beta of 1.25. CSX Corporation has a 1 year low of $26.22 and a 1 year high of $37.25.

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

CSX Dividend Announcement

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