Westfield Capital Management Co. LP Sells 1,616,260 Shares of CSX Corporation (NASDAQ:CSX)

Key Points

• Westfield Capital Management decreased its position in CSX Corporation by 48%, selling 1,616,260 shares and holding approximately 1,753,021 shares valued at $51.6 million as of its latest SEC filing.
• CSX has recently announced a quarterly dividend of $0.13, representing a 1.5% yield, with the ex-dividend date on August 29.
• The current pension of CSX stock among analysts reflects a consensus of "Moderate Buy" with a target price of $37, indicating positive market sentiment towards the company's performance.

Westfield Capital Management Co. LP trimmed its holdings in CSX Corporation (NASDAQ:CSX - Free Report) by 48.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,753,021 shares of the transportation company's stock after selling 1,616,260 shares during the period. Westfield Capital Management Co. LP owned 0.09% of CSX worth $51,591,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of CSX in the fourth quarter valued at about $27,000. Accredited Wealth Management LLC bought a new position in CSX during the fourth quarter worth about $29,000. Fourth Dimension Wealth LLC acquired a new stake in CSX in the 4th quarter valued at $29,000. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of CSX in the 1st quarter worth about $30,000. Finally, Rossby Financial LCC acquired a new stake in shares of CSX during the first quarter worth approximately $28,000. 73.57% of the stock is currently owned by institutional investors.

CSX Stock Performance

CSX stock traded down $0.76 during midday trading on Thursday, hitting $35.25. The company's stock had a trading volume of 14,529,707 shares, compared to its average volume of 21,311,464. The company has a market cap of $65.72 billion, a price-to-earnings ratio of 21.76, a PEG ratio of 2.69 and a beta of 1.25. CSX Corporation has a 1-year low of $26.22 and a 1-year high of $37.10. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.77 and a quick ratio of 0.63. The company has a 50-day moving average price of $33.49 and a two-hundred day moving average price of $31.46.

CSX (NASDAQ:CSX - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The transportation company reported $0.44 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 business had revenue of $3.57 billion during the quarter, compared to the consensus estimate of $3.57 billion. During the same period in the previous year, the business earned $0.49 earnings per share. The company's revenue was down 3.5% on a year-over-year basis. As a group, sell-side analysts predict that CSX Corporation will post 1.83 earnings per share for the current year.

CSX Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Friday, August 29th. CSX's payout ratio is 32.10%.

Wall Street Analysts Forecast Growth

CSX has been the subject of a number of research analyst reports. Raymond James Financial lifted their price target on CSX from $33.00 to $37.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. Jefferies Financial Group reduced their target price on CSX from $37.00 to $33.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. UBS Group lowered their price objective on shares of CSX from $36.00 to $34.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Susquehanna reaffirmed a "neutral" rating and issued a $35.00 price target on shares of CSX in a research note on Tuesday, June 24th. Finally, Citigroup increased 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. Seven investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target 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.