Legal & General Group Plc cut its holdings in CSX Co. (NASDAQ:CSX) by 1.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,498,686 shares of the transportation company’s stock after selling 74,845 shares during the period. Legal & General Group Plc owned 0.52% of CSX worth $286,926,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. IMS Capital Management acquired a new position in CSX during the second quarter worth $124,000. Archford Capital Strategies LLC acquired a new position in CSX during the first quarter worth $109,000. Kaizen Advisory LLC lifted its stake in CSX by 150.5% during the second quarter. Kaizen Advisory LLC now owns 2,164 shares of the transportation company’s stock worth $138,000 after purchasing an additional 1,300 shares in the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. acquired a new position in CSX during the first quarter worth $123,000. Finally, Sun Life Financial INC lifted its stake in CSX by 950.0% during the second quarter. Sun Life Financial INC now owns 2,373 shares of the transportation company’s stock worth $151,000 after purchasing an additional 2,147 shares in the last quarter. Hedge funds and other institutional investors own 74.59% of the company’s stock.
NASDAQ CSX opened at $75.06 on Monday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.48 and a current ratio of 1.66. CSX Co. has a 52-week low of $48.26 and a 52-week high of $75.14. The stock has a market cap of $64.11 billion, a P/E ratio of 32.63, a P/E/G ratio of 1.56 and a beta of 1.22.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 14th. Investors of record on Friday, August 31st will be given a $0.22 dividend. The ex-dividend date is Thursday, August 30th. This represents a $0.88 dividend on an annualized basis and a yield of 1.17%. CSX’s payout ratio is currently 38.26%.
Several analysts have recently issued reports on the company. Deutsche Bank set a $79.00 price objective on CSX and gave the company a “buy” rating in a research note on Friday, June 8th. ValuEngine upgraded CSX from a “hold” rating to a “buy” rating in a research note on Monday, July 2nd. Royal Bank of Canada increased their price objective on CSX from $71.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, July 18th. Citigroup increased their price objective on CSX from $67.00 to $75.00 and gave the company a “buy” rating in a research note on Monday, June 25th. Finally, Zacks Investment Research upgraded CSX from a “hold” rating to a “buy” rating and set a $74.00 price objective on the stock in a research note on Tuesday, June 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seventeen have issued a buy rating to the stock. CSX has an average rating of “Buy” and an average price target of $69.45.
CSX Company Profile
CSX Corporation, together with its subsidiaries, provides rail-based transportation services in the United States and Canada. The company offers rail services, as well as transports intermodal containers and trailers. It transports agricultural and food products, fertilizers, chemicals, automotive, metals and equipment, minerals, and forest products; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.
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