MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Trims Holdings in CSX Co. (NASDAQ:CSX)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lessened its stake in CSX Co. (NASDAQ:CSX) by 45.1% in the third quarter, Holdings Channel reports. The institutional investor owned 73,390 shares of the transportation company’s stock after selling 60,182 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in CSX were worth $2,534,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in CSX. Price T Rowe Associates Inc. MD boosted its stake in CSX by 0.7% in 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 acquiring an additional 443,755 shares during the period. Bank of New York Mellon Corp boosted its position in CSX by 6.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 17,133,857 shares of the transportation company’s stock valued at $573,128,000 after purchasing an additional 1,060,204 shares during the period. Dimensional Fund Advisors LP increased its position in CSX by 9.3% in the second quarter. Dimensional Fund Advisors LP now owns 12,421,862 shares of the transportation company’s stock worth $415,466,000 after buying an additional 1,060,617 shares during the period. Bank of Montreal Can lifted its stake in CSX by 38.7% in the second quarter. Bank of Montreal Can now owns 6,749,827 shares of the transportation company’s stock valued at $225,917,000 after buying an additional 1,884,998 shares during the last quarter. Finally, Interval Partners LP boosted its holdings in shares of CSX by 849.0% during the second quarter. Interval Partners LP now owns 5,118,751 shares of the transportation company’s stock valued at $171,222,000 after acquiring an additional 4,579,344 shares during the period. 73.57% of the stock is owned by institutional investors and hedge funds.

CSX Stock Up 0.9 %

Shares of CSX stock opened at $35.29 on Tuesday. CSX Co. has a 12-month low of $29.03 and a 12-month high of $40.12. The firm has a market capitalization of $68.99 billion, a PE ratio of 19.39, a price-to-earnings-growth ratio of 1.90 and a beta of 1.19. The company has a quick ratio of 1.01, a current ratio of 1.16 and a debt-to-equity ratio of 1.42. The stock’s fifty day moving average is $33.98 and its 200-day moving average is $33.99.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Monday, August 5th. The transportation company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.01. CSX had a return on equity of 29.11% and a net margin of 24.52%. The firm had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.70 billion. During the same quarter in the previous year, the company earned $0.49 EPS. The business’s revenue for the quarter was up .0% compared to the same quarter last year. Equities analysts anticipate that CSX Co. will post 1.93 earnings per share for the current year.

CSX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date of this dividend is Friday, November 29th. CSX’s dividend payout ratio is 26.37%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CSX. Susquehanna lifted their price objective on shares of CSX from $41.00 to $42.00 and gave the company a “positive” rating in a research report on Wednesday, October 2nd. Benchmark reiterated a “buy” rating and set a $40.00 price objective on shares of CSX in a research report on Wednesday, August 7th. Evercore ISI raised CSX to a “strong-buy” rating in a research note on Tuesday, August 6th. Bank of America cut CSX from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a research note on Monday, July 8th. Finally, Barclays reduced their price objective on shares of CSX from $41.00 to $40.00 and set an “overweight” rating for the company in a report on Wednesday, September 25th. Seven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, CSX currently has an average rating of “Moderate Buy” and a consensus price target of $39.19.

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 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.