Donaldson Capital Management LLC Trims Stake in CSX Co. (NASDAQ:CSX)

Donaldson Capital Management LLC lowered its holdings in CSX Co. (NASDAQ:CSX) by 1.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 51,709 shares of the transportation company’s stock after selling 846 shares during the quarter. Donaldson Capital Management LLC’s holdings in CSX were worth $1,522,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of CSX in the fourth quarter valued at $780,194,000. Ameriprise Financial Inc. grew its stake in shares of CSX by 89.7% in the fourth quarter. Ameriprise Financial Inc. now owns 20,856,567 shares of the transportation company’s stock valued at $673,025,000 after buying an additional 9,863,587 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of CSX by 40.5% in the fourth quarter. Bank of New York Mellon Corp now owns 23,350,087 shares of the transportation company’s stock valued at $753,507,000 after buying an additional 6,730,316 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of CSX by 471.9% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 6,748,661 shares of the transportation company’s stock valued at $217,808,000 after buying an additional 5,568,624 shares in the last quarter. Finally, Fiduciary Management Inc. WI acquired a new position in CSX during the 4th quarter worth $178,259,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Stock Up 2.0%

CSX stock opened at $32.61 on Wednesday. CSX Co. has a fifty-two week low of $26.22 and a fifty-two week high of $37.10. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86. The company has a market capitalization of $61.26 billion, a P/E ratio of 18.22, a PEG ratio of 1.92 and a beta of 1.24. The stock has a 50-day simple moving average of $29.42 and a 200-day simple moving average of $31.33.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Wednesday, April 16th. The transportation company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.05). The company had revenue of $3.42 billion for the quarter, compared to analysts’ expectations of $3.53 billion. CSX had a net margin of 23.95% and a return on equity of 28.15%. Equities research analysts expect that CSX Co. will post 1.83 earnings per share for the current year.

CSX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.59%. The ex-dividend date is Friday, May 30th. CSX’s dividend payout ratio is presently 31.14%.

Analyst Ratings Changes

CSX has been the subject of several analyst reports. Royal Bank of Canada lowered their target price on CSX from $31.00 to $30.00 and set a “sector perform” rating for the company in a research note on Thursday, April 17th. Benchmark reissued a “buy” rating and set a $35.00 target price on shares of CSX in a research note on Thursday, April 17th. Raymond James reaffirmed an “outperform” rating and set a $33.00 price objective (down from $34.00) on shares of CSX in a research report on Thursday, April 17th. Deutsche Bank Aktiengesellschaft assumed coverage on CSX in a research report on Friday, March 7th. They set a “hold” rating and a $34.00 price objective for the company. Finally, UBS Group lowered their price objective on CSX from $36.00 to $34.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. Eight investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $33.95.

About CSX

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.