ING Groep NV Decreases Position in CSX Co. (NASDAQ:CSX)

ING Groep NV cut its stake in shares of CSX Co. (NASDAQ:CSXFree Report) by 40.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 811,231 shares of the transportation company’s stock after selling 545,397 shares during the period. ING Groep NV’s holdings in CSX were worth $28,125,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CSX. Lazard Asset Management LLC raised its holdings in shares of CSX by 10.4% in the third quarter. Lazard Asset Management LLC now owns 29,191,044 shares of the transportation company’s stock worth $897,624,000 after buying an additional 2,748,738 shares during the period. Morgan Stanley increased its holdings in CSX by 3.1% during the 3rd quarter. Morgan Stanley now owns 24,340,514 shares of the transportation company’s stock worth $748,471,000 after purchasing an additional 739,411 shares during the period. Fisher Asset Management LLC increased its holdings in CSX by 2.1% during the 4th quarter. Fisher Asset Management LLC now owns 22,378,276 shares of the transportation company’s stock worth $775,855,000 after purchasing an additional 470,640 shares during the period. Northern Trust Corp increased its holdings in CSX by 1.4% during the 3rd quarter. Northern Trust Corp now owns 21,307,242 shares of the transportation company’s stock worth $655,198,000 after purchasing an additional 303,684 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in CSX by 1.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 11,217,832 shares of the transportation company’s stock worth $388,922,000 after purchasing an additional 135,169 shares during the period. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on CSX shares. Benchmark restated a “buy” rating and set a $40.00 price objective on shares of CSX in a report on Thursday, April 18th. StockNews.com downgraded CSX from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. TD Cowen lifted their price target on CSX from $32.00 to $36.00 and gave the company a “market perform” rating in a report on Thursday, January 25th. Royal Bank of Canada cut their price target on CSX from $37.00 to $36.00 and set a “sector perform” rating on the stock in a report on Thursday, April 18th. Finally, Jefferies Financial Group cut their price target on CSX from $40.00 to $38.00 and set a “hold” rating on the stock in a report on Thursday, April 18th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $38.00.

Read Our Latest Analysis on CSX

CSX Stock Performance

CSX stock traded down $0.41 during trading hours on Friday, hitting $33.52. 8,218,484 shares of the stock traded hands, compared to its average volume of 12,170,002. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.15 and a quick ratio of 1.00. The firm’s 50 day moving average price is $35.42 and its 200-day moving average price is $34.85. The stock has a market capitalization of $65.53 billion, a price-to-earnings ratio of 18.42, a P/E/G ratio of 2.03 and a beta of 1.19. CSX Co. has a 1 year low of $29.03 and a 1 year high of $40.12.

CSX (NASDAQ:CSXGet Free Report) last issued its quarterly earnings data on Wednesday, April 17th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.01. The business had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.66 billion. CSX had a return on equity of 29.58% and a net margin of 24.75%. The company’s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.48 EPS. As a group, equities analysts expect that CSX Co. will post 1.95 EPS for the current fiscal year.

CSX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be issued a $0.12 dividend. The ex-dividend date is Thursday, May 30th. This represents a $0.48 annualized dividend and a dividend yield of 1.43%. CSX’s dividend payout ratio (DPR) is presently 26.37%.

About CSX

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for CSX (NASDAQ:CSX)

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