TIAA Trust National Association Sells 290,436 Shares of CSX Corporation (NASDAQ:CSX)

Key Points

• TIAA Trust National Association has decreased its stake in CSX Corporation by 67.6%, holding 139,305 shares worth $4.1 million after selling 290,436 shares in the first quarter.
• CSX recently reported earnings of $0.44 per share, exceeding expectations and revealing a net margin of 21.92%, although revenue was down 3.5% year-over-year.
• The company declared a quarterly dividend of $0.13 per share, with an upcoming payment date of September 15th, resulting in an annualized dividend yield of 1.5%.

TIAA Trust National Association cut its position in CSX Corporation (NASDAQ:CSX - Free Report) by 67.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 139,305 shares of the transportation company's stock after selling 290,436 shares during the quarter. TIAA Trust National Association's holdings in CSX were worth $4,100,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Ameriprise Financial Inc. raised its position in shares of CSX by 89.7% during the 4th quarter. Ameriprise Financial Inc. now owns 20,856,567 shares of the transportation company's stock valued at $673,025,000 after buying an additional 9,863,587 shares in the last quarter. Fiduciary Management Inc. WI purchased a new stake in shares of CSX during the 4th quarter valued at $178,259,000. Bank of New York Mellon Corp raised its position in shares of CSX by 21.6% during 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 buying an additional 5,033,743 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of CSX by 1,283.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,190,452 shares of the transportation company's stock valued at $123,786,000 after buying an additional 3,887,644 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of CSX during the 4th quarter valued at $117,133,000. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

CSX Trading Up 0.7%

Shares of CSX traded up $0.24 during trading hours on Friday, reaching $35.49. 7,646,877 shares of the company traded hands, compared to its average volume of 15,956,743. The company's fifty day moving average price is $33.49 and its two-hundred day moving average price is $31.46. The company has a market capitalization of $66.15 billion, a price-to-earnings ratio of 21.90, a price-to-earnings-growth ratio of 2.69 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 Corporation has a 12 month low of $26.22 and a 12 month high of $37.10.

CSX (NASDAQ:CSX - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share for the quarter, beating analysts' consensus estimates of $0.42 by $0.02. The firm 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%. The company's revenue for the quarter was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.49 EPS. Equities research analysts predict that CSX Corporation will post 1.83 earnings per share for the current fiscal year.

CSX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.52 annualized dividend and a yield of 1.5%. CSX's payout ratio is presently 32.10%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CSX. BMO Capital Markets raised their price objective on shares of CSX from $36.00 to $38.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Argus set a $32.00 price objective on shares of CSX in a research report on Friday, April 25th. Sanford C. Bernstein reiterated a "market perform" rating and issued a $36.00 target price (up previously from $33.00) on shares of CSX in a research report on Tuesday, July 8th. Susquehanna reiterated a "neutral" rating and issued a $35.00 target price on shares of CSX in a research report on Tuesday, June 24th. Finally, Wall Street Zen upgraded shares of CSX from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Seven equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target 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.