Wedge Capital Management L L P NC Has $9.89 Million Position in CSX Co. (NASDAQ:CSX)

Wedge Capital Management L L P NC reduced its holdings in CSX Co. (NASDAQ:CSX - Free Report) by 6.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 336,025 shares of the transportation company's stock after selling 22,461 shares during the period. Wedge Capital Management L L P NC's holdings in CSX were worth $9,889,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Geode Capital Management LLC lifted its position in shares of CSX by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 41,633,333 shares of the transportation company's stock worth $1,339,555,000 after purchasing an additional 726,507 shares in the last quarter. Invesco Ltd. increased its stake in CSX by 13.5% in the 4th quarter. Invesco Ltd. now owns 25,103,077 shares of the transportation company's stock valued at $810,076,000 after buying an additional 2,977,212 shares during the period. Fisher Asset Management LLC lifted its position in CSX by 1.2% in the 4th quarter. Fisher Asset Management LLC now owns 24,956,467 shares of the transportation company's stock worth $805,345,000 after buying an additional 299,536 shares in the last quarter. Norges Bank purchased a new stake in CSX in the 4th quarter worth approximately $780,194,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of CSX by 40.5% during the 4th quarter. Bank of New York Mellon Corp now owns 23,350,087 shares of the transportation company's stock valued at $753,507,000 after buying an additional 6,730,316 shares during the period. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CSX. Evercore ISI dropped their price target on shares of CSX from $35.00 to $33.00 and set an "outperform" rating on the stock in a research note on Thursday, April 17th. Bank of America boosted their target price on CSX from $30.00 to $31.00 and gave the company a "neutral" rating in a research note on Monday, May 12th. Barclays dropped their target price on CSX from $35.00 to $31.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Stifel Nicolaus reduced their price target on CSX from $37.00 to $34.00 and set a "buy" rating for the company in a report on Monday, April 14th. Finally, UBS Group lowered their price target on CSX from $36.00 to $34.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Eight equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $33.95.

CSX Stock Performance

Shares of NASDAQ CSX traded down $0.25 during trading hours on Monday, hitting $31.98. 14,840,626 shares of the stock were exchanged, compared to its average volume of 13,154,949. CSX Co. has a one year low of $26.22 and a one year high of $37.10. The company's 50 day moving average is $29.28 and its 200 day moving average is $31.34. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23. The firm has a market capitalization of $60.08 billion, a P/E ratio of 17.87, a P/E/G ratio of 1.92 and a beta of 1.24.

CSX (NASDAQ:CSX - Get Free Report) last released its quarterly earnings results on Wednesday, April 16th. The transportation company reported $0.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.39 by ($0.05). The firm had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.53 billion. CSX had a net margin of 23.95% and a return on equity of 28.15%. On average, research analysts expect that CSX Co. will post 1.83 EPS for the current year.

CSX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be paid a dividend of $0.13 per share. The ex-dividend date is Friday, May 30th. This represents a $0.52 annualized dividend and a yield of 1.63%. CSX's payout ratio is 31.14%.

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.