American International Group Inc. Sells 6,499 Shares of CSX Co. (NASDAQ:CSX)

American International Group Inc. lowered its position in shares of CSX Co. (NASDAQ:CSX) by 0.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 729,432 shares of the transportation company’s stock after selling 6,499 shares during the quarter. American International Group Inc.’s holdings in CSX were worth $25,289,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in CSX in the fourth quarter worth about $757,276,000. Price T Rowe Associates Inc. MD lifted its stake in shares of CSX by 18.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 64,807,961 shares of the transportation company’s stock valued at $2,246,893,000 after purchasing an additional 9,914,656 shares during the period. Capital International Investors boosted its position in shares of CSX by 14.3% in the 4th quarter. Capital International Investors now owns 40,353,078 shares of the transportation company’s stock worth $1,399,104,000 after purchasing an additional 5,041,679 shares during the last quarter. Lazard Asset Management LLC increased its holdings in CSX by 10.4% in the third quarter. Lazard Asset Management LLC now owns 29,191,044 shares of the transportation company’s stock valued at $897,624,000 after purchasing an additional 2,748,738 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in CSX by 68.1% in the third quarter. PNC Financial Services Group Inc. now owns 5,234,797 shares of the transportation company’s stock valued at $160,970,000 after buying an additional 2,119,965 shares during the period. 73.57% of the stock is owned by institutional investors.

CSX Stock Performance

NASDAQ CSX traded down $0.35 during trading on Friday, reaching $32.18. 13,292,007 shares of the company’s stock were exchanged, compared to its average volume of 9,948,660. CSX Co. has a fifty-two week low of $29.03 and a fifty-two week high of $40.12. The stock has a market capitalization of $62.91 billion, a P/E ratio of 17.68, a PEG ratio of 1.67 and a beta of 1.19. The business has a 50 day moving average price of $33.87 and a 200-day moving average price of $35.13. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.15 and a quick ratio of 1.00.

CSX (NASDAQ:CSX) last announced its earnings results on Wednesday, April 17th. The transportation company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.45 by $0.01. The business had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.66 billion. CSX had a net margin of 24.75% and a return on equity of 29.58%. CSX’s revenue was down .8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.48 EPS. Sell-side analysts forecast that CSX Co. will post 1.96 earnings per share for the current fiscal year.

CSX Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were paid a $0.12 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $0.48 annualized dividend and a yield of 1.49%. CSX’s dividend payout ratio (DPR) is presently 26.37%.

Analyst Ratings Changes

A number of analysts have recently commented on CSX shares. Stifel Nicolaus upped their price target on CSX from $37.00 to $39.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Susquehanna boosted their price target on shares of CSX from $42.00 to $44.00 and gave the company a “positive” rating in a report on Thursday, March 28th. Benchmark reaffirmed a “buy” rating and set a $40.00 price objective on shares of CSX in a research note on Thursday, April 18th. Jefferies Financial Group decreased their target price on CSX from $40.00 to $38.00 and set a “hold” rating for the company in a research note on Thursday, April 18th. Finally, Royal Bank of Canada lowered their target price on CSX from $37.00 to $36.00 and set a “sector perform” rating for the company in a research note on Thursday, April 18th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $37.82.

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.