Great West Life Assurance Co. Can Cuts Position in CSX Co. (NASDAQ:CSX)

Great West Life Assurance Co. Can lowered its stake in shares of CSX Co. (NASDAQ:CSX) by 19.1% during the second quarter, Holdings Channel reports. The institutional investor owned 1,078,037 shares of the transportation company’s stock after selling 254,632 shares during the period. Great West Life Assurance Co. Can’s holdings in CSX were worth $36,918,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. ICA Group Wealth Management LLC raised its position in CSX by 7.2% during the first quarter. ICA Group Wealth Management LLC now owns 5,306 shares of the transportation company’s stock worth $159,000 after acquiring an additional 356 shares during the last quarter. Prospera Financial Services Inc lifted its stake in CSX by 36.6% in the 2nd quarter. Prospera Financial Services Inc now owns 24,343 shares of the transportation company’s stock valued at $831,000 after buying an additional 6,527 shares in the last quarter. Patriot Financial Group Insurance Agency LLC grew its holdings in CSX by 42.6% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 18,121 shares of the transportation company’s stock valued at $618,000 after buying an additional 5,416 shares during the last quarter. Maltin Wealth Management Inc. purchased a new position in CSX during the second quarter worth $588,000. Finally, Toroso Investments LLC raised its holdings in shares of CSX by 13.2% in the first quarter. Toroso Investments LLC now owns 123,632 shares of the transportation company’s stock worth $3,702,000 after acquiring an additional 14,416 shares during the last quarter. 72.76% of the stock is currently owned by institutional investors and hedge funds.

CSX Stock Up 1.4 %

Shares of CSX stock opened at $32.06 on Tuesday. The company has a fifty day moving average price of $30.68 and a 200 day moving average price of $31.59. The company has a current ratio of 1.14, a quick ratio of 1.00 and a debt-to-equity ratio of 1.50. CSX Co. has a twelve month low of $27.60 and a twelve month high of $34.38. The stock has a market cap of $63.35 billion, a price-to-earnings ratio of 17.05, a price-to-earnings-growth ratio of 2.53 and a beta of 1.20.

CSX (NASDAQ:CSX) last posted its earnings results on Thursday, October 19th. The transportation company reported $0.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.42. The business had revenue of $3.57 billion during the quarter, compared to analyst estimates of $3.55 billion. CSX had a return on equity of 31.28% and a net margin of 26.16%. The company’s revenue for the quarter was down 8.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.52 earnings per share. Equities research analysts forecast that CSX Co. will post 1.83 earnings per share for the current fiscal year.

CSX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.37%. CSX’s dividend payout ratio is currently 23.40%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Bank of America lifted their price objective on CSX from $36.00 to $38.00 in a research report on Friday, September 29th. Susquehanna lowered their price target on shares of CSX from $36.00 to $33.00 and set a “neutral” rating for the company in a report on Tuesday, October 3rd. Argus upped their price objective on shares of CSX from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Tuesday, July 25th. StockNews.com initiated coverage on shares of CSX in a research note on Thursday, October 5th. They issued a “hold” rating for the company. Finally, Royal Bank of Canada cut their price target on CSX from $35.00 to $34.00 and set a “sector perform” rating for the company in a report on Friday, October 20th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $36.00.

About CSX

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.