Chevy Chase Trust Holdings LLC Reduces Stock Holdings in CSX Co. (NASDAQ:CSX)

Chevy Chase Trust Holdings LLC reduced its stake in CSX Co. (NASDAQ:CSX) by 0.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,145,256 shares of the transportation company’s stock after selling 6,476 shares during the period. Chevy Chase Trust Holdings LLC owned 0.06% of CSX worth $42,455,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in CSX. Price T Rowe Associates Inc. MD grew its position in shares of CSX by 18.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 64,807,961 shares of the transportation company’s stock worth $2,246,893,000 after acquiring an additional 9,914,656 shares during the last quarter. Capital International Investors grew its position in shares of CSX by 14.3% during the fourth quarter. Capital International Investors now owns 40,353,078 shares of the transportation company’s stock worth $1,399,104,000 after acquiring an additional 5,041,679 shares during the last quarter. Fisher Asset Management LLC grew its position in shares of CSX by 2.1% during the fourth quarter. Fisher Asset Management LLC now owns 22,378,276 shares of the transportation company’s stock worth $775,855,000 after acquiring an additional 470,640 shares during the last quarter. Norges Bank acquired a new stake in shares of CSX during the fourth quarter worth $757,276,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of CSX by 1.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 11,217,832 shares of the transportation company’s stock worth $388,922,000 after purchasing an additional 135,169 shares during the period. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. UBS Group decreased their price target on CSX from $46.00 to $44.00 and set a “buy” rating for the company in a report on Thursday, April 18th. Susquehanna decreased their price target on CSX from $44.00 to $40.00 and set a “positive” rating for the company in a report on Tuesday, June 25th. Royal Bank of Canada decreased their price target on CSX from $37.00 to $36.00 and set a “sector perform” rating for the company in a report on Thursday, April 18th. Sanford C. Bernstein raised their target price on CSX from $35.00 to $36.00 and gave the company a “market perform” rating in a report on Monday. Finally, Bank of America downgraded CSX from a “buy” rating to a “neutral” rating and set a $37.00 target price for the company. in a report on Monday. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $37.39.

CSX Stock Up 1.2 %

Shares of CSX stock traded up $0.38 on Wednesday, hitting $32.86. 3,340,687 shares of the company’s stock traded hands, compared to its average volume of 11,832,433. The stock has a market cap of $64.24 billion, a P/E ratio of 17.85, a PEG ratio of 1.73 and a beta of 1.20. The company has a quick ratio of 1.00, a current ratio of 1.15 and a debt-to-equity ratio of 1.42. The firm’s 50-day moving average is $33.37 and its 200 day moving average is $35.09. CSX Co. has a 52-week low of $29.03 and a 52-week high of $40.12.

CSX (NASDAQ:CSX) last released its earnings results on Wednesday, April 17th. The transportation company reported $0.46 EPS for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $3.66 billion. During the same period in the prior year, the business posted $0.48 EPS. The business’s revenue was down .8% on a year-over-year basis. Equities analysts anticipate that CSX Co. will post 1.95 earnings per share for the current year.

CSX Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.46%. The ex-dividend date was Friday, May 31st. CSX’s dividend payout ratio (DPR) is presently 26.37%.

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.