PGGM Investments Increases Position in CSX Corp. (CSX)
PGGM Investments boosted its position in CSX Corp. (NASDAQ:CSX) by 104.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,873,455 shares of the company’s stock after buying an additional 956,397 shares during the period. PGGM Investments’ holdings in CSX Corp. were worth $48,860,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of CSX. Schonfeld Strategic Advisors LLC bought a new position in CSX Corp. during the first quarter valued at about $207,000. Canandaigua National Bank & Trust Co. increased its position in CSX Corp. by 3.9% in the second quarter. Canandaigua National Bank & Trust Co. now owns 8,295 shares of the company’s stock valued at $216,000 after buying an additional 315 shares in the last quarter. Mariner Wealth Advisors LLC increased its position in CSX Corp. by 1.1% in the first quarter. Mariner Wealth Advisors LLC now owns 9,242 shares of the company’s stock valued at $238,000 after buying an additional 105 shares in the last quarter. FDO Partners LLC bought a new position in CSX Corp. during the first quarter valued at about $252,000. Finally, Sii Investments Inc. WI bought a new position in CSX Corp. during the first quarter valued at about $256,000. Hedge funds and other institutional investors own 68.55% of the company’s stock.
Shares of CSX Corp. (NASDAQ:CSX) traded down 0.47% during trading on Thursday, hitting $29.57. 5,364,060 shares of the company’s stock were exchanged. The firm has a market capitalization of $27.97 billion, a PE ratio of 16.14 and a beta of 1.32. The stock’s 50 day moving average is $28.53 and its 200 day moving average is $26.97. CSX Corp. has a 1-year low of $21.33 and a 1-year high of $30.53.
CSX Corp. (NASDAQ:CSX) last released its quarterly earnings results on Wednesday, July 13th. The company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.03. CSX Corp. had a net margin of 16.07% and a return on equity of 15.24%. The company had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.69 billion. During the same period in the previous year, the firm earned $0.56 EPS. CSX Corp.’s revenue was down 11.7% on a year-over-year basis. On average, equities research analysts forecast that CSX Corp. will post $1.75 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Monday, August 29th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.43%. CSX Corp.’s dividend payout ratio (DPR) is 39.13%.
Several equities analysts have issued reports on the stock. Cowen and Company upped their price objective on shares of CSX Corp. from $27.00 to $30.00 and gave the company a “market perform” rating in a research note on Friday, July 15th. Oppenheimer Holdings Inc. restated a “hold” rating on shares of CSX Corp. in a research note on Sunday, July 17th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of CSX Corp. in a research note on Friday, July 15th. Stifel Nicolaus downgraded shares of CSX Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, July 14th. They noted that the move was a valuation call. Finally, BB&T Corp. downgraded shares of CSX Corp. from a “buy” rating to a “hold” rating in a research note on Friday, July 15th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $29.54.
About CSX Corp.
CSX Corporation, together with its subsidiaries, is a transportation company. The Company provides rail-based transportation services, including rail service and the transport of intermodal containers and trailers. The Company serves three lines of business, such as merchandise business, coal business and intermodal business.
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