Healthcare of Ontario Pension Plan Trust Fund cut its stake in CSX Co. (NASDAQ:CSX – Free Report) by 68.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 290,115 shares of the transportation company’s stock after selling 630,148 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in CSX were worth $8,686,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of CSX. Thompson Investment Management Inc. acquired a new stake in shares of CSX during the 1st quarter worth about $25,000. Kalos Management Inc. acquired a new stake in shares of CSX during the 1st quarter worth about $25,000. Fortis Capital Advisors LLC acquired a new stake in shares of CSX during the 4th quarter worth about $27,000. TimeScale Financial Inc. increased its position in shares of CSX by 1,391.8% during the 1st quarter. TimeScale Financial Inc. now owns 910 shares of the transportation company’s stock worth $27,000 after purchasing an additional 849 shares during the last quarter. Finally, Graham Capital Wealth Management LLC acquired a new stake in shares of CSX during the 1st quarter worth about $311,675,000. 72.76% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on CSX shares. UBS Group raised CSX from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $33.00 to $37.00 in a research report on Thursday, June 1st. JPMorgan Chase & Co. raised their target price on CSX from $35.00 to $37.00 and gave the company a “neutral” rating in a report on Friday, July 21st. Stifel Nicolaus raised their target price on CSX from $37.00 to $38.00 in a report on Monday, July 17th. Royal Bank of Canada cut CSX from an “outperform” rating to a “sector perform” rating and set a $35.00 target price for the company. in a report on Monday, July 31st. Finally, Stephens restated an “overweight” rating and set a $39.00 target price on shares of CSX in a report on Friday, July 21st. Ten analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $35.29.
CSX Price Performance
CSX stock opened at $29.95 on Monday. The business has a 50 day moving average price of $31.98 and a 200 day moving average price of $31.38. The stock has a market cap of $60.09 billion, a price-to-earnings ratio of 15.13, a PEG ratio of 2.54 and a beta of 1.22. CSX Co. has a fifty-two week low of $25.80 and a fifty-two week high of $34.38. The company has a quick ratio of 1.21, a current ratio of 1.42 and a debt-to-equity ratio of 1.46.
CSX (NASDAQ:CSX – Get Free Report) last released its earnings results 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 business had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.73 billion. CSX had a return on equity of 32.82% and a net margin of 27.36%. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 earnings per share. Equities research analysts anticipate that CSX Co. will post 1.9 earnings per share for the current fiscal year.
CSX Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date is Wednesday, August 30th. CSX’s payout ratio is currently 22.22%.
CSX Company 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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