Amalgamated Bank Decreases Position in CSX Co. (NASDAQ:CSX)

Amalgamated Bank reduced its stake in CSX Co. (NASDAQ:CSX) by 3.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 395,886 shares of the transportation company’s stock after selling 13,080 shares during the period. Amalgamated Bank’s holdings in CSX were worth $13,242,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD lifted its holdings in shares of CSX by 18.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 64,807,961 shares of the transportation company’s stock valued at $2,246,893,000 after purchasing an additional 9,914,656 shares during the last quarter. Capital International Investors increased its position in CSX by 14.3% during the fourth 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 period. Manning & Napier Advisors LLC purchased a new stake in CSX in the second quarter valued at approximately $116,430,000. M&G Plc acquired a new stake in shares of CSX in the first quarter valued at approximately $126,089,000. Finally, Wulff Hansen & CO. grew its position in shares of CSX by 3,243.0% during the second quarter. Wulff Hansen & CO. now owns 2,192,246 shares of the transportation company’s stock worth $73,331,000 after acquiring an additional 2,126,668 shares during the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Stock Performance

Shares of CSX opened at $34.05 on Thursday. The company has a quick ratio of 1.01, a current ratio of 1.16 and a debt-to-equity ratio of 1.42. CSX Co. has a 52-week low of $29.03 and a 52-week high of $40.12. The company has a 50-day simple moving average of $33.98 and a 200-day simple moving average of $34.41. The company has a market capitalization of $66.57 billion, a PE ratio of 18.71, a P/E/G ratio of 1.77 and a beta of 1.19.

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

CSX Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date of this dividend was Friday, August 30th. CSX’s dividend payout ratio is currently 26.37%.

Analyst Ratings Changes

Several analysts recently commented on CSX shares. Susquehanna upped their price target on shares of CSX from $40.00 to $41.00 and gave the company a “positive” rating in a research report on Wednesday, August 7th. Benchmark reaffirmed a “buy” rating and issued a $40.00 target price on shares of CSX in a report on Wednesday, August 7th. BMO Capital Markets reissued an “outperform” rating and set a $40.00 price target on shares of CSX in a report on Tuesday, August 6th. Sanford C. Bernstein upped their price objective on CSX from $35.00 to $36.00 and gave the company a “market perform” rating in a research note on Monday, July 8th. Finally, Wells Fargo & Company initiated coverage on CSX in a report on Friday, June 7th. They issued an “equal weight” rating and a $35.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $38.80.

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.