USS Investment Management Ltd Cuts Position in CSX Corporation $CSX

Key Points

• USS Investment Management Ltd has reduced its holdings in CSX Corporation by 17.8%, now owning 355,231 shares worth approximately $10.4 million.
• Several institutional investors have entered or modified their positions in CSX recently, with approximately 73.57% of the company's stock owned by hedge funds and institutional investors.
• CSX recently announced a quarterly dividend of $0.13 per share, reflecting a 1.6% dividend yield, with a payout ratio of 32.10%.

USS Investment Management Ltd lessened its holdings in CSX Corporation (NASDAQ:CSX - Free Report) by 17.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 355,231 shares of the transportation company's stock after selling 76,724 shares during the period. USS Investment Management Ltd's holdings in CSX were worth $10,449,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analyst Weigh In

CSX has been the topic of several research analyst reports. Citigroup lifted their price objective on CSX from $36.00 to $38.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Baird R W upgraded CSX to a "strong-buy" rating in a report on Tuesday, July 1st. Wells Fargo & Company lifted their price objective on CSX from $35.00 to $37.00 and gave the stock an "equal weight" rating in a report on Thursday, July 24th. JPMorgan Chase & Co. lifted their price objective on CSX from $34.00 to $41.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Finally, Raymond James Financial lifted their price objective on CSX from $33.00 to $37.00 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. One equities research 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's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $37.00.

CSX Trading Down 0.4%

Shares of CSX stock opened at $32.53 on Monday. The stock has a market cap of $60.65 billion, a P/E ratio of 20.08, a P/E/G ratio of 2.43 and a beta of 1.25. The stock's 50 day simple moving average is $34.35 and its 200-day simple moving average is $31.62. CSX Corporation has a 1-year low of $26.22 and a 1-year high of $37.25. 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 (NASDAQ:CSX - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.02. The business had revenue of $3.57 billion for the quarter, compared to analysts' expectations of $3.57 billion. CSX had a return on equity of 25.48% and a net margin of 21.92%.The business's revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.49 EPS. Analysts predict that CSX Corporation will post 1.83 EPS for the current fiscal 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 issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Friday, August 29th. CSX's payout ratio is currently 32.10%.

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.

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