CSX Co. (NASDAQ:CSX) Shares Sold by First Manhattan CO. LLC.

by · The Markets Daily

First Manhattan CO. LLC. reduced its holdings in CSX Co. (NASDAQ:CSX – Free Report) by 0.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 155,261 shares of the transportation company’s stock after selling 720 shares during the quarter. First Manhattan CO. LLC.’s holdings in CSX were worth $5,010,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in CSX. Deutsche Bank AG raised its stake in CSX by 6.2% during the fourth quarter. Deutsche Bank AG now owns 8,087,257 shares of the transportation company’s stock worth $260,976,000 after purchasing an additional 473,476 shares during the period. EP Wealth Advisors LLC grew its position in CSX by 5.9% during the fourth quarter. EP Wealth Advisors LLC now owns 131,303 shares of the transportation company’s stock valued at $4,237,000 after acquiring an additional 7,267 shares during the period. Corvex Management LP increased its stake in CSX by 69.0% during the fourth quarter. Corvex Management LP now owns 1,753,068 shares of the transportation company’s stock worth $56,572,000 after acquiring an additional 715,800 shares during the last quarter. Covenant Partners LLC raised its holdings in shares of CSX by 90.5% in the 4th quarter. Covenant Partners LLC now owns 16,925 shares of the transportation company’s stock worth $546,000 after purchasing an additional 8,039 shares during the period. Finally, Crestline Management LP purchased a new stake in shares of CSX during the 4th quarter worth about $7,613,000. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

CSX Price Performance

CSX opened at $28.74 on Friday. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43. The company’s 50-day moving average price is $28.78 and its 200 day moving average price is $31.86. CSX Co. has a fifty-two week low of $26.22 and a fifty-two week high of $37.10. The firm has a market cap of $53.99 billion, a price-to-earnings ratio of 16.06, a price-to-earnings-growth ratio of 1.92 and a beta of 1.22.

CSX (NASDAQ:CSX – Get Free Report) last issued its earnings results on Wednesday, April 16th. The transportation company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.05). CSX had a return on equity of 28.15% and a net margin of 23.95%. The company had revenue of $3.42 billion during the quarter, compared to analyst estimates of $3.53 billion. As a group, sell-side analysts expect that CSX Co. will post 1.83 earnings per share for the current year.

CSX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.81%. CSX’s dividend payout ratio (DPR) is presently 31.14%.

Analyst Upgrades and Downgrades

CSX has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of CSX in a research report on Friday, March 7th. They set a “hold” rating and a $34.00 price target on the stock. Benchmark reiterated a “buy” rating and issued a $35.00 price target on shares of CSX in a report on Thursday, April 17th. UBS Group reduced their price objective on CSX from $36.00 to $34.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Stephens reiterated an “overweight” rating and set a $38.00 target price on shares of CSX in a report on Friday, January 24th. Finally, Barclays lowered their price objective on shares of CSX from $35.00 to $31.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $33.86.

View 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.

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