Brookfield Corp ON decreased its stake in CSX Co. (NASDAQ:CSX – Free Report) by 1.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 805,664 shares of the transportation company’s stock after selling 13,120 shares during the period. Brookfield Corp ON’s holdings in CSX were worth $24,122,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in CSX. Moneta Group Investment Advisors LLC lifted its stake in CSX by 101,926.4% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 23,323,241 shares of the transportation company’s stock valued at $722,554,000 after purchasing an additional 23,300,381 shares during the last quarter. Norges Bank bought a new position in CSX in the 4th quarter valued at approximately $621,349,000. Price T Rowe Associates Inc. MD lifted its stake in CSX by 20.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 51,565,862 shares of the transportation company’s stock valued at $1,543,883,000 after purchasing an additional 8,797,783 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in CSX by 395.9% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 5,208,520 shares of the transportation company’s stock valued at $195,059,000 after purchasing an additional 4,158,204 shares during the last quarter. Finally, First Trust Advisors LP lifted its stake in CSX by 104.8% in the 1st quarter. First Trust Advisors LP now owns 6,626,888 shares of the transportation company’s stock valued at $248,177,000 after purchasing an additional 3,390,853 shares during the last quarter. Institutional investors own 72.76% of the company’s stock.
Analyst Ratings Changes
Several research firms have recently issued reports on CSX. Benchmark reaffirmed a “buy” rating and set a $37.00 price target on shares of CSX in a research note on Friday, July 21st. Stifel Nicolaus raised their price target on shares of CSX from $37.00 to $38.00 in a research note on Monday, July 17th. Stephens reaffirmed an “overweight” rating and set a $39.00 price target on shares of CSX in a research note on Friday, July 21st. JPMorgan Chase & Co. raised their price target on shares of CSX from $35.00 to $37.00 and gave the company a “neutral” rating in a research note on Friday, July 21st. Finally, Citigroup dropped their price target on shares of CSX from $39.00 to $38.00 and set a “buy” rating for the company in a research note on Friday, July 21st. Ten research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $35.29.
CSX Trading Up 0.8 %
NASDAQ:CSX opened at $30.18 on Tuesday. The company has a current ratio of 1.42, a quick ratio of 1.21 and a debt-to-equity ratio of 1.46. The stock has a market capitalization of $60.55 billion, a price-to-earnings ratio of 15.24, a PEG ratio of 2.54 and a beta of 1.22. The firm has a fifty day simple moving average of $31.89 and a two-hundred day simple moving average of $31.37. CSX Co. has a 12 month low of $25.80 and a 12 month high of $34.38.
CSX (NASDAQ:CSX – Get Free Report) last issued its quarterly earnings data on Thursday, July 20th. The transportation company reported $0.49 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.49. The firm had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.73 billion. CSX had a net margin of 27.36% and a return on equity of 32.82%. The business’s revenue was down 3.1% on a year-over-year basis. During the same period last year, the company earned $0.50 earnings per share. Analysts expect that CSX Co. will post 1.9 EPS for the current fiscal year.
CSX Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date of this dividend is Wednesday, August 30th. CSX’s dividend payout ratio is currently 22.22%.
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 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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