UniSuper Management Pty Ltd Sells 282,545 Shares of CSX Corporation $CSX

Key Points

• UniSuper Management Pty Ltd has reduced its stake in CSX Corporation by 16.2%, retaining approximately 1,462,585 shares valued at $43.04 million.
• CSX reported earnings per share of $0.44 for the last quarter, surpassing analysts' expectations of $0.42, despite a 3.5% year-over-year revenue decline.
• The company's quarterly dividend of $0.13 is set to be paid on September 15, representing an annualized yield of 1.6% and a payout ratio of 32.10%.

UniSuper Management Pty Ltd reduced its stake in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 16.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,462,585 shares of the transportation company's stock after selling 282,545 shares during the quarter. UniSuper Management Pty Ltd owned 0.08% of CSX worth $43,044,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CSX. Rossby Financial LCC bought a new position in shares of CSX during the first quarter valued at about $28,000. Fourth Dimension Wealth LLC purchased a new position in CSX during the 4th quarter valued at about $29,000. Barnes Dennig Private Wealth Management LLC purchased a new position in CSX during the 1st quarter valued at about $30,000. Kessler Investment Group LLC bought a new position in CSX during the 1st quarter valued at approximately $32,000. Finally, Cornerstone Planning Group LLC raised its position in CSX by 45.8% during the 1st quarter. Cornerstone Planning Group LLC now owns 1,414 shares of the transportation company's stock valued at $39,000 after purchasing an additional 444 shares during the last quarter. 73.57% of the stock is owned by institutional investors.

CSX Stock Down 0.7%

NASDAQ:CSX traded down $0.22 during mid-day trading on Friday, hitting $32.63. 4,308,957 shares of the company's stock were exchanged, compared to its average volume of 16,783,541. The company has a market cap of $60.83 billion, a PE ratio of 20.15, a P/E/G ratio of 2.39 and a beta of 1.25. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.77 and a quick ratio of 0.63. CSX Corporation has a one year low of $26.22 and a one year high of $37.25. The business has a fifty day moving average price of $34.28 and a 200 day moving average price of $31.64.

CSX (NASDAQ:CSX - Get Free Report) last released its earnings results on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share (EPS) 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 analyst estimates of $3.57 billion. During the same period last year, the business earned $0.49 earnings per share. The business's revenue was down 3.5% on a year-over-year basis. Equities analysts predict that CSX Corporation will post 1.83 EPS for the current year.

CSX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, August 29th. CSX's dividend payout ratio is currently 32.10%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. The Goldman Sachs Group reissued a "neutral" rating and set a $35.00 target price on shares of CSX in a research note on Monday, June 2nd. Wall Street Zen cut shares of CSX from a "hold" rating to a "sell" rating in a report on Friday, August 22nd. Citigroup upped their price objective on shares of CSX from $36.00 to $38.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Deutsche Bank Aktiengesellschaft raised shares of 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. Finally, Raymond James Financial increased their price target on shares of CSX from $33.00 to $37.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $37.00.

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.