Gulf International Bank UK Ltd Has $3.33 Million Stock Position in CSX Corporation (NASDAQ:CSX)

Gulf International Bank UK Ltd reduced its holdings in CSX Corporation (NASDAQ:CSX) by 29.3% in the 1st quarter, HoldingsChannel reports. The fund owned 113,190 shares of the transportation company’s stock after selling 46,912 shares during the period. Gulf International Bank UK Ltd’s holdings in CSX were worth $3,331,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of CSX in the 4th quarter worth approximately $27,000. Rossby Financial LCC acquired a new position in shares of CSX in the 1st quarter worth approximately $28,000. Accredited Wealth Management LLC acquired a new position in shares of CSX in the 4th quarter worth approximately $29,000. Fourth Dimension Wealth LLC acquired a new position in shares of CSX in the 4th quarter worth approximately $29,000. Finally, Barnes Dennig Private Wealth Management LLC acquired a new position in shares of CSX in the 1st quarter worth approximately $30,000. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Argus set a $32.00 price target on shares of CSX in a research report on Friday, April 25th. JPMorgan Chase & Co. raised their price objective on shares of CSX from $34.00 to $41.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of CSX in a research report on Thursday, July 24th. Barclays raised their price objective on shares of CSX from $36.00 to $38.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. Finally, Wells Fargo & Company raised their price objective on shares of CSX from $35.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 24th. Seven investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.00.

CSX Stock Up 0.7%

Shares of NASDAQ:CSX opened at $36.08 on Thursday. The stock has a market cap of $67.26 billion, a price-to-earnings ratio of 22.27, a PEG ratio of 2.67 and a beta of 1.25. The company has a quick ratio of 0.63, a current ratio of 0.77 and a debt-to-equity ratio of 1.50. CSX Corporation has a 12-month low of $26.22 and a 12-month high of $37.10. The business’s 50 day moving average is $33.81 and its 200 day moving average is $31.53.

CSX (NASDAQ:CSX) last announced its 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. The company had revenue of $3.57 billion for the quarter, compared to analysts’ expectations of $3.57 billion. CSX had a return on equity of 25.48% and a net margin of 21.92%. CSX’s quarterly revenue was down 3.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.49 earnings per share. On average, sell-side analysts forecast that CSX Corporation will post 1.83 earnings per share for the current fiscal year.

CSX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.52 annualized dividend and a dividend yield of 1.4%. CSX’s payout ratio is presently 32.10%.

CSX Company 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.