Grandview Asset Management LLC Sells 1,107 Shares of CSX Co. (NASDAQ:CSX)

Grandview Asset Management LLC lowered its stake in CSX Co. (NASDAQ:CSX) by 2.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 41,504 shares of the transportation company’s stock after selling 1,107 shares during the quarter. Grandview Asset Management LLC’s holdings in CSX were worth $1,539,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in CSX. Norges Bank bought a new position in shares of CSX in the 4th quarter worth $757,276,000. Price T Rowe Associates Inc. MD raised its stake in shares of CSX by 18.1% during the 4th 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 purchasing an additional 9,914,656 shares during the period. Capital International Investors increased its holdings in CSX by 14.3% in the 4th 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. Lazard Asset Management LLC increased its holdings in CSX by 10.4% in the 3rd quarter. Lazard Asset Management LLC now owns 29,191,044 shares of the transportation company’s stock worth $897,624,000 after acquiring an additional 2,748,738 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its holdings in CSX by 43.8% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 4,752,117 shares of the transportation company’s stock worth $146,128,000 after acquiring an additional 1,446,685 shares during the last quarter. Institutional investors own 73.57% of the company’s stock.

CSX Price Performance

NASDAQ CSX traded up $0.09 during trading hours on Friday, reaching $33.40. The company’s stock had a trading volume of 5,866,984 shares, compared to its average volume of 11,826,389. The firm has a market capitalization of $65.29 billion, a price-to-earnings ratio of 18.34, a P/E/G ratio of 1.71 and a beta of 1.19. CSX Co. has a 1-year low of $29.03 and a 1-year high of $40.12. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.15 and a quick ratio of 1.00. The company’s 50-day moving average is $33.65 and its two-hundred day moving average is $35.12.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Wednesday, April 17th. The transportation company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.01. The company had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.66 billion. CSX had a return on equity of 29.58% and a net margin of 24.75%. CSX’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.48 EPS. On average, equities analysts predict that CSX Co. will post 1.96 EPS for the current year.

CSX Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were given a $0.12 dividend. The ex-dividend date was Friday, May 31st. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.44%. CSX’s dividend payout ratio (DPR) is presently 26.37%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CSX. Wells Fargo & Company began coverage on CSX in a report on Friday, June 7th. They set an “equal weight” rating and a $35.00 price objective for the company. Jefferies Financial Group lowered their price objective on CSX from $40.00 to $38.00 and set a “hold” rating for the company in a research report on Thursday, April 18th. UBS Group reduced their target price on CSX from $46.00 to $44.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. Royal Bank of Canada reduced their price target on CSX from $37.00 to $36.00 and set a “sector perform” rating on the stock in a research note on Thursday, April 18th. Finally, Benchmark reaffirmed a “buy” rating and set a $40.00 price target on shares of CSX in a report on Thursday, April 18th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, CSX has an average rating of “Moderate Buy” and a consensus target price of $37.82.

About CSX

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.