Norway Savings Bank Sells 900 Shares of CSX Co. (NASDAQ:CSX)

Norway Savings Bank decreased its position in CSX Co. (NASDAQ:CSX) by 10.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,500 shares of the transportation company’s stock after selling 900 shares during the period. Norway Savings Bank’s holdings in CSX were worth $278,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Morgan Stanley boosted its position in CSX by 3.1% in the third quarter. Morgan Stanley now owns 24,340,514 shares of the transportation company’s stock worth $748,471,000 after purchasing an additional 739,411 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in shares of CSX by 3,241.9% in the 4th quarter. International Assets Investment Management LLC now owns 235,304 shares of the transportation company’s stock worth $8,158,000 after buying an additional 228,263 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in CSX by 5.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 723,344 shares of the transportation company’s stock valued at $25,078,000 after buying an additional 34,730 shares during the period. Partners Group Holding AG increased its holdings in CSX by 26.8% during the fourth quarter. Partners Group Holding AG now owns 704,544 shares of the transportation company’s stock worth $24,427,000 after buying an additional 149,105 shares during the last quarter. Finally, Sapient Capital LLC bought a new stake in CSX in the fourth quarter worth about $1,279,000. Institutional investors own 73.57% of the company’s stock.

CSX Stock Up 1.3 %

Shares of NASDAQ CSX opened at $33.45 on Friday. The company has a current ratio of 1.15, a quick ratio of 1.00 and a debt-to-equity ratio of 1.42. The business has a 50-day moving average of $33.46 and a 200-day moving average of $35.13. The firm has a market capitalization of $65.39 billion, a price-to-earnings ratio of 18.38, a PEG ratio of 1.71 and a beta of 1.19. CSX Co. has a 12 month low of $29.03 and a 12 month high of $40.12.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Wednesday, April 17th. The transportation company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.01. The business had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.66 billion. CSX had a net margin of 24.75% and a return on equity of 29.58%. The business’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.48 EPS. Sell-side analysts expect that CSX Co. will post 1.96 earnings per share for the current fiscal year.

CSX Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CSX shares. Royal Bank of Canada decreased their price target on shares of CSX from $37.00 to $36.00 and set a “sector perform” rating for the company in a research note on Thursday, April 18th. Susquehanna decreased their target price on CSX from $44.00 to $40.00 and set a “positive” rating for the company in a research report on Tuesday, June 25th. Bank of America dropped 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. Stifel Nicolaus lifted their price objective on CSX from $37.00 to $39.00 and gave the stock a “buy” rating in a report on Friday, April 12th. Finally, UBS Group dropped their price objective on shares of CSX from $46.00 to $44.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, CSX currently has an average rating of “Moderate Buy” and an average 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.