Tredje AP fonden Cuts Holdings in CSX Corporation (NASDAQ:CSX)

Key Points

• Tredje AP fonden significantly reduced its stake in CSX Corporation by 56.1%, lowering its holdings to 284,846 shares valued at approximately $8.4 million.
• Institutional investors collectively own 73.57% of CSX stock, with several firms notably increasing their stakes during the recent quarter.
• Analysts have mixed ratings for CSX, with the average price target set at $37.00, reflecting a consensus of "Moderate Buy" among market experts.

Tredje AP fonden cut its holdings in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 56.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 284,846 shares of the transportation company's stock after selling 363,605 shares during the period. Tredje AP fonden's holdings in CSX were worth $8,383,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in CSX during the fourth quarter worth approximately $27,000. Accredited Wealth Management LLC acquired a new position in CSX during the 4th quarter worth approximately $29,000. Fourth Dimension Wealth LLC bought a new stake in CSX during the 4th quarter valued at $29,000. Barnes Dennig Private Wealth Management LLC bought a new position in shares of CSX in the first quarter valued at $30,000. Finally, Rossby Financial LCC acquired a new position in shares of CSX during the first quarter valued at about $28,000. 73.57% of the stock is owned by institutional investors.

CSX Trading Up 1.0%

Shares of CSX traded up $0.36 during mid-day trading on Monday, hitting $35.37. 8,621,558 shares of the company's stock traded hands, compared to its average volume of 16,047,286. The company has a quick ratio of 0.63, a current ratio of 0.77 and a debt-to-equity ratio of 1.50. The firm has a market capitalization of $65.94 billion, a P/E ratio of 21.83, a PEG ratio of 2.62 and a beta of 1.25. The business's 50-day moving average price is $33.14 and its 200-day moving average price is $31.36. CSX Corporation has a 1 year low of $26.22 and a 1 year high of $37.10.

CSX (NASDAQ:CSX - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The transportation company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.42 by $0.02. CSX had a net margin of 21.92% and a return on equity of 25.48%. The firm had revenue of $3.57 billion during the quarter, compared to analysts' expectations of $3.57 billion. During the same period last year, the company posted $0.49 EPS. The company's quarterly revenue was down 3.5% compared to the same quarter last year. As a group, sell-side analysts forecast 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. Shareholders 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 dividend on an annualized basis 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 topic of several recent research reports. Baird R W raised shares of CSX to a "strong-buy" rating in a research report on Tuesday, July 1st. Evercore ISI cut their target price on CSX from $35.00 to $33.00 and set an "outperform" rating on the stock in a research report on Thursday, April 17th. Bank of America raised 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 report on Thursday, July 17th. BMO Capital Markets lifted their price objective on shares of CSX from $36.00 to $38.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Finally, Wells Fargo & Company raised their price target on shares of CSX from $35.00 to $37.00 and gave the company an "equal weight" rating in a research report on Thursday, July 24th. Seven equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, CSX has an average rating of "Moderate Buy" and an average target price of $37.00.

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.