Tredje AP fonden Trims Position 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 lowered 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 SEC. The fund 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 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Ameriprise Financial Inc. grew its holdings in CSX by 89.7% in the 4th quarter. Ameriprise Financial Inc. now owns 20,856,567 shares of the transportation company's stock worth $673,025,000 after acquiring an additional 9,863,587 shares during the last quarter. Fiduciary Management Inc. WI bought a new stake in CSX in the 4th quarter worth $178,259,000. Bank of New York Mellon Corp grew its holdings in CSX by 21.6% in the 1st quarter. Bank of New York Mellon Corp now owns 28,383,830 shares of the transportation company's stock worth $835,336,000 after acquiring an additional 5,033,743 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in CSX by 1,283.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,190,452 shares of the transportation company's stock worth $123,786,000 after acquiring an additional 3,887,644 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in CSX in the 4th quarter worth $117,133,000. Institutional investors own 73.57% of the company's stock.

CSX Stock Down 1.5%

CSX stock traded down $0.53 during trading hours on Friday, hitting $35.01. The stock had a trading volume of 19,265,718 shares, compared to its average volume of 20,105,130. 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 stock has a market capitalization of $65.27 billion, a P/E ratio of 21.61, a price-to-earnings-growth ratio of 2.66 and a beta of 1.25. CSX Corporation has a 12-month low of $26.22 and a 12-month high of $37.10. The stock's 50-day moving average price is $33.14 and its 200-day moving average price is $31.38.

CSX (NASDAQ:CSX - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share for the quarter, beating 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 in the previous year, the company earned $0.49 earnings per share. The firm's quarterly revenue was down 3.5% on a year-over-year basis. Equities research analysts anticipate that CSX Corporation will post 1.83 EPS for the current fiscal year.

CSX Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CSX shares. Barclays lifted their target price on shares of CSX from $36.00 to $38.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Bank of America raised shares of CSX from a "neutral" rating to a "buy" rating and lifted their target price for the company from $34.00 to $42.00 in a research note on Thursday, July 17th. Jefferies Financial Group cut their target price on shares of CSX from $37.00 to $33.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Robert W. Baird lifted their target price on shares of CSX from $38.00 to $44.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Finally, Wall Street Zen raised shares of CSX from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Seven investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus 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.