CSX Co. (NASDAQ:CSX) shares sold by Petredis Investment Advisors LLC


Petredis Investment Advisors LLC has sold its stake in CSX Co. (NASDAQ:CSX – Free Report) fell 2.3% in the fourth quarter, the company said in its most recent filing with the Securities and Exchange Commission. The fund owned 66,472 shares of the transportation company, after selling 1,538 shares during the period. Petredis Investment Advisors LLC’s holdings in CSX were worth $2,305,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CSX. Norges Bank acquired a new stake in CSX in the fourth quarter worth approximately $757,276,000. Price T Rowe Associates Inc. MD increased its stake in CSX by 18.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 64,807,961 shares of the trucking company’s stock worth $2,246,893,000 after purchasing an additional 9,914,656 shares in the last quarter. Capital International Investors increased its stake in CSX by 14.3% in the fourth quarter. Capital International Investors now owns 40,353,078 shares of the transportation company’s stock worth $1,399,104,000 after purchasing an additional 5,041,679 shares in the last quarter. Lazard Asset Management LLC grew its holdings in CSX by 10.4% in the third quarter. Lazard Asset Management LLC now owns 29,191,044 shares of the trucking company’s stock worth $897,624,000 after purchasing an additional 2,748,738 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in CSX by 68.1% in the third quarter. PNC Financial Services Group Inc. now owns 5,234,797 shares of the trucking company’s stock worth $160,970,000 after purchasing an additional 2,119,965 shares in the last quarter. 73.57% of the shares are held by institutional investors and hedge funds.

CSX Price Performance

CSX stock opened at $32.18 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.15 and a debt-to-equity ratio of 1.42. CSX Co. has a 52-week low of $29.03 and a 52-week high of $40.12. The stock’s 50-day moving average is $33.87 and its two-hundred-day moving average is $35.10. The company has a market cap of $62.91 billion, a price-to-earnings ratio of 17.68, a price-to-earnings ratio of 1.70 and a beta of 1.19.

CSX (NASDAQ:CSX – Get Free Report) posted its latest quarterly earnings data on Wednesday, April 17. The transportation company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.01. CSX had a return on equity of 29.58% and a net margin of 24.75%. The company had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.66 billion. During the same period last year, the company earned earnings per share of $0.48. CSX’s revenue for the quarter fell 0.8% compared to the same quarter last year. Analysts predict that CSX Co. will post a profit per share of 1.96 for the current financial year.

CSX announces dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 14. A dividend of $0.12 per share was paid to known shareholders on Friday, May 31. The ex-dividend date of this dividend was Friday, May 31. This represents a dividend of $0.48 annually and a yield of 1.49%. CSX’s dividend payout ratio currently stands at 26.37%.

Analysts set new price targets

Several stock analysts have recently weighed in on CSX stock. Jefferies Financial Group lowered their price objective on CSX from $40.00 to $38.00 and set a “hold” rating on the stock in a research note on Thursday, April 18. Stifel Nicolaus raised their price objective on CSX from $37.00 to $39.00 and gave the company a “buy” rating in a research note on Friday, April 12. Benchmark reaffirmed a “buy” rating and issued a $40.00 price objective on shares of CSX in a research note on Thursday, April 18. Royal Bank of Canada cut their price objective on CSX from $37.00 to $36.00 and set a “sector perform” rating on the stock in a research note on Thursday, April 18. Finally, UBS Group lowered their price objective on CSX from $46.00 to $44.00 and set a “buy” rating on the stock in a research note on Thursday, April 18. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, CSX currently has an average rating of “Moderate Buy” and an average price target of $37.82.

Check out our latest research report on CSX

CSX Company Profile

(Free report)

CSX Corporation, together with its subsidiaries, provides rail 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 cargo operations. It also transports chemicals, agricultural and food products, minerals, automobiles, forest products, fertilizers and metals and equipment; and coal, coke and iron ore to power stations, steelmakers and industrial facilities, and exports coal to deepwater port facilities.

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Quarterly Institutional Ownership for CSX (NASDAQ:CSX)



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