Pacer Advisors Inc. Trims Stake in CSX Corporation (NASDAQ:CSX)

by · The Cerbat Gem

Pacer Advisors Inc. trimmed its position in CSX Corporation (NASDAQ:CSX – Free Report) by 34.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 197,246 shares of the transportation company’s stock after selling 102,531 shares during the quarter. Pacer Advisors Inc.’s holdings in CSX were worth $5,805,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Portside Wealth Group LLC increased its position in CSX by 1.3% during the 1st quarter. Portside Wealth Group LLC now owns 27,335 shares of the transportation company’s stock valued at $804,000 after purchasing an additional 361 shares during the period. Ullmann Wealth Partners Group LLC lifted its position in shares of CSX by 1.3% in the 1st quarter. Ullmann Wealth Partners Group LLC now owns 29,276 shares of the transportation company’s stock worth $862,000 after purchasing an additional 363 shares during the period. Family Legacy Inc. boosted its stake in shares of CSX by 0.6% during the fourth quarter. Family Legacy Inc. now owns 68,009 shares of the transportation company’s stock valued at $2,190,000 after purchasing an additional 375 shares in the last quarter. LRI Investments LLC increased its holdings in CSX by 4.8% during the first quarter. LRI Investments LLC now owns 8,254 shares of the transportation company’s stock valued at $243,000 after buying an additional 375 shares during the period. Finally, Patrick M Sweeney & Associates Inc. increased its holdings in CSX by 1.2% during the first quarter. Patrick M Sweeney & Associates Inc. now owns 32,205 shares of the transportation company’s stock valued at $948,000 after buying an additional 378 shares during the period. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

CSX Stock Performance

Shares of CSX opened at $35.76 on Monday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.63 and a current ratio of 0.77. The stock has a 50-day moving average of $32.69 and a two-hundred day moving average of $31.25. The stock has a market cap of $66.67 billion, a P/E ratio of 22.07, a P/E/G ratio of 3.16 and a beta of 1.23. CSX Corporation has a one year low of $26.22 and a one year high of $37.10.

CSX (NASDAQ:CSX – Get Free Report) last released its earnings results on Wednesday, July 23rd. The transportation company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.02. The firm had revenue of $3.57 billion during the quarter, compared to the consensus estimate of $3.57 billion. CSX had a return on equity of 25.48% and a net margin of 21.92%. The company’s revenue was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.49 earnings per share. As a group, research analysts predict that CSX Corporation will post 1.83 EPS for the current year.

CSX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend is Friday, August 29th. CSX’s dividend payout ratio (DPR) is currently 32.10%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CSX. Evercore ISI dropped their target price on CSX from $35.00 to $33.00 and set an “outperform” rating on the stock in a research report on Thursday, April 17th. The Goldman Sachs Group restated a “neutral” rating and set a $35.00 price objective on shares of CSX in a research note on Monday, June 2nd. Stifel Nicolaus cut their target price on CSX from $37.00 to $34.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Benchmark increased their price target on shares of CSX from $37.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Robert W. Baird raised their price target on shares of CSX from $38.00 to $44.00 and gave the company an “outperform” rating in a report on Friday. Seven research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $37.00.

Read Our Latest Report on CSX

About CSX

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding CSX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CSX Corporation (NASDAQ:CSX – Free Report).