Sumitomo Mitsui Trust Holdings Inc. Decreases Holdings in CSX Co. (NASDAQ:CSX)

Sumitomo Mitsui Trust Holdings Inc. reduced its stake in CSX Co. (NASDAQ:CSX) by 1.2% during the first quarter, Holdings Channel.com reports. The institutional investor owned 5,145,979 shares of the transportation company’s stock after selling 62,604 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in CSX were worth $190,761,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in the stock. Fortitude Family Office LLC purchased a new position in shares of CSX during the 4th quarter valued at $27,000. Life Planning Partners Inc bought a new stake in CSX in the 4th quarter valued at about $27,000. Financial Synergies Wealth Advisors Inc. purchased a new stake in CSX during the first quarter valued at about $29,000. Burkett Financial Services LLC bought a new position in CSX during the fourth quarter worth about $34,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new position in shares of CSX in the fourth quarter worth about $34,000. Institutional investors own 73.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. UBS Group dropped their price target on shares of CSX from $46.00 to $44.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. Royal Bank of Canada cut their price target on CSX from $37.00 to $36.00 and set a “sector perform” rating for the company in a report on Thursday, April 18th. Stifel Nicolaus boosted their price objective on CSX from $37.00 to $39.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Susquehanna cut their target price on CSX from $44.00 to $40.00 and set a “positive” rating for the company in a research note on Tuesday, June 25th. Finally, Bank of America decreased their price target on CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, CSX has an average rating of “Moderate Buy” and a consensus price target of $37.59.

CSX Stock Down 0.6 %

Shares of NASDAQ:CSX opened at $33.55 on Thursday. The firm has a market capitalization of $65.59 billion, a PE ratio of 18.43, a price-to-earnings-growth ratio of 1.73 and a beta of 1.20. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.00 and a current ratio of 1.15. CSX Co. has a 52-week low of $29.03 and a 52-week high of $40.12. The firm has a fifty day moving average of $33.42 and a 200 day moving average of $35.13.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Wednesday, April 17th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.01. The firm 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% compared to the same quarter last year. During the same period in the prior year, the business earned $0.48 EPS. As a group, research analysts anticipate that CSX Co. will post 1.96 EPS for the current fiscal year.

CSX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend was Friday, May 31st. CSX’s payout ratio is currently 26.37%.

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.