Swedbank AB Cuts Position in CSX Co. (NASDAQ:CSX)

Swedbank AB lessened its holdings in CSX Co. (NASDAQ:CSX) by 1.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 629,177 shares of the transportation company’s stock after selling 7,048 shares during the quarter. Swedbank AB’s holdings in CSX were worth $21,046,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Price T Rowe Associates Inc. MD grew its holdings in shares of CSX by 0.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 65,251,716 shares of the transportation company’s stock valued at $2,418,883,000 after buying an additional 443,755 shares during the last quarter. Capital International Investors grew its holdings in shares of CSX by 14.3% during the fourth quarter. Capital International Investors now owns 40,353,078 shares of the transportation company’s stock valued at $1,399,104,000 after buying an additional 5,041,679 shares during the last quarter. Fisher Asset Management LLC grew its holdings in shares of CSX by 2.1% during the fourth quarter. Fisher Asset Management LLC now owns 22,378,276 shares of the transportation company’s stock valued at $775,855,000 after buying an additional 470,640 shares during the last quarter. Norges Bank purchased a new stake in shares of CSX during the fourth quarter valued at approximately $757,276,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of CSX by 1.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 11,217,832 shares of the transportation company’s stock valued at $388,922,000 after buying an additional 135,169 shares during the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Stock Performance

CSX traded down $0.21 during trading on Friday, hitting $33.42. The company’s stock had a trading volume of 9,870,518 shares, compared to its average volume of 11,812,768. The company has a quick ratio of 1.00, a current ratio of 1.15 and a debt-to-equity ratio of 1.42. CSX Co. has a one year low of $29.03 and a one year high of $40.12. The firm has a market cap of $65.33 billion, a PE ratio of 18.48, a P/E/G ratio of 1.89 and a beta of 1.20. The business’s 50 day simple moving average is $33.62 and its 200-day simple moving average is $34.97.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Monday, August 5th. The transportation company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.01. The business had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.70 billion. CSX had a net margin of 24.75% and a return on equity of 29.58%. The company’s quarterly revenue was up .0% on a year-over-year basis. During the same period last year, the firm earned $0.49 earnings per share. As a group, sell-side analysts predict that CSX Co. will post 1.94 EPS for the current fiscal year.

CSX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be paid a $0.12 dividend. The ex-dividend date is Friday, August 30th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.44%. CSX’s dividend payout ratio (DPR) is presently 26.37%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Stephens reiterated an “overweight” rating and set a $42.00 price target on shares of CSX in a report on Tuesday, August 6th. Wells Fargo & Company assumed coverage on shares of CSX in a report on Friday, June 7th. They set an “equal weight” rating and a $35.00 price target on the stock. Susquehanna increased their price target on shares of CSX from $40.00 to $41.00 and gave the company a “positive” rating in a report on Wednesday, August 7th. Royal Bank of Canada restated a “sector perform” rating and set a $36.00 price objective on shares of CSX in a research report on Tuesday, August 6th. Finally, Benchmark restated a “buy” rating and set a $40.00 price objective on shares of CSX in a research report on Wednesday, August 7th. Seven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $38.80.

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.