Amalgamated Bank reduced its stake in CSX Co. (NASDAQ:CSX – Free Report) 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 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.
Check Out Our Latest Report on CSX
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.
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