CSX Co. (NASDAQ:CSX) Shares Sold by Cullinan Associates Inc.

Cullinan Associates Inc. lowered its position in shares of CSX Co. (NASDAQ:CSX) by 4.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,000 shares of the transportation company’s stock after selling 400 shares during the period. Cullinan Associates Inc.’s holdings in CSX were worth $334,000 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 made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its holdings in shares of CSX by 18.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 64,807,961 shares of the transportation company’s stock worth $2,246,893,000 after buying an additional 9,914,656 shares during the last quarter. Capital International Investors increased its holdings in shares of CSX by 14.3% during the 4th quarter. Capital International Investors now owns 40,353,078 shares of the transportation company’s stock worth $1,399,104,000 after buying an additional 5,041,679 shares during the last quarter. Morgan Stanley increased its holdings in shares of 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 buying an additional 739,411 shares during the last quarter. Fisher Asset Management LLC boosted its position in shares of 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. Finally, Norges Bank purchased a new position in shares of CSX during the 4th quarter worth approximately $757,276,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Price Performance

Shares of NASDAQ:CSX opened at $33.76 on Wednesday. The company’s fifty day moving average price is $33.44 and its 200 day moving average price is $35.14. CSX Co. has a 12 month low of $29.03 and a 12 month high of $40.12. 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 has a market capitalization of $66.00 billion, a P/E ratio of 18.55, a P/E/G ratio of 1.73 and a beta of 1.20.

CSX (NASDAQ:CSX) last announced its quarterly 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. CSX had a net margin of 24.75% and a return on equity of 29.58%. The firm had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.66 billion. During the same period last year, the business earned $0.48 EPS. CSX’s revenue for the quarter was down .8% compared to the same quarter last year. As a group, sell-side analysts predict that CSX Co. will post 1.96 earnings per share for the current fiscal year.

CSX Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were paid a dividend of $0.12 per share. The ex-dividend date was Friday, May 31st. This represents a $0.48 annualized dividend and a yield of 1.42%. CSX’s dividend payout ratio is currently 26.37%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CSX. Stifel Nicolaus increased their price objective on shares of CSX from $37.00 to $39.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Royal Bank of Canada lowered their price objective on shares of CSX from $37.00 to $36.00 and set a “sector perform” rating for the company in a research report on Thursday, April 18th. Susquehanna lowered their price objective on shares of CSX from $44.00 to $40.00 and set a “positive” rating for the company in a research report on Tuesday, June 25th. UBS Group lowered their price objective on shares of CSX from $46.00 to $44.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. Finally, Wells Fargo & Company began coverage on shares of CSX in a research report on Friday, June 7th. They set an “equal weight” rating and a $35.00 price objective for the company. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, CSX presently has an average rating of “Moderate Buy” and a consensus target price of $37.59.

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.