Marco Investment Management LLC Has $1.21 Million Position in CSX Corporation (NASDAQ:CSX)

Marco Investment Management LLC lessened its position in CSX Corporation (NASDAQ:CSX) by 1.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,929 shares of the transportation company’s stock after selling 505 shares during the period. Marco Investment Management LLC’s holdings in CSX were worth $1,205,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Ameriprise Financial Inc. boosted its holdings in shares of CSX by 89.7% during the 4th quarter. Ameriprise Financial Inc. now owns 20,856,567 shares of the transportation company’s stock worth $673,025,000 after buying an additional 9,863,587 shares during the period. Fiduciary Management Inc. WI bought a new stake in shares of CSX during the 4th quarter worth about $178,259,000. Bank of New York Mellon Corp boosted its holdings in shares of CSX by 21.6% during the 1st quarter. Bank of New York Mellon Corp now owns 28,383,830 shares of the transportation company’s stock worth $835,336,000 after buying an additional 5,033,743 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of CSX by 1,283.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,190,452 shares of the transportation company’s stock worth $123,786,000 after buying an additional 3,887,644 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of CSX during the 4th quarter worth about $117,133,000. Institutional investors own 73.57% of the company’s stock.

CSX Trading Down 0.1%

Shares of NASDAQ CSX opened at $35.71 on Tuesday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.63 and a current ratio of 0.77. CSX Corporation has a 52-week low of $26.22 and a 52-week high of $37.10. The firm has a 50 day moving average price of $32.78 and a two-hundred day moving average price of $31.28. The stock has a market cap of $66.57 billion, a P/E ratio of 22.04, a price-to-earnings-growth ratio of 3.16 and a beta of 1.23.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.02. CSX had a net margin of 21.92% and a return on equity of 25.48%. The firm had revenue of $3.57 billion during the quarter, compared to analysts’ expectations of $3.57 billion. During the same period in the prior year, the company posted $0.49 EPS. The company’s revenue was down 3.5% on a year-over-year basis. As a group, equities analysts forecast that CSX Corporation will post 1.83 EPS for the current year.

CSX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend is Friday, August 29th. CSX’s dividend payout ratio (DPR) is currently 32.10%.

Analyst Upgrades and Downgrades

CSX has been the subject of several research analyst reports. Citigroup lifted their target price on shares of CSX from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, July 9th. Evercore ISI dropped their price objective on shares of CSX from $35.00 to $33.00 and set an “outperform” rating for the company in a research note on Thursday, April 17th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $35.00 price objective on shares of CSX in a research note on Monday, June 2nd. Wall Street Zen upgraded shares of CSX from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, Susquehanna reiterated a “neutral” rating and issued a $35.00 price objective on shares of CSX in a research note on Tuesday, June 24th. Seven research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $37.00.

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.