Coronation Fund Managers Ltd. Decreases Holdings in CSX Co. (NASDAQ:CSX)

Coronation Fund Managers Ltd. trimmed its position in CSX Co. (NASDAQ:CSX) by 95.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,865 shares of the transportation company’s stock after selling 836,149 shares during the quarter. Coronation Fund Managers Ltd.’s holdings in CSX were worth $1,478,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in shares of CSX in the first quarter worth $355,000. Rehmann Capital Advisory Group boosted its holdings in CSX by 1.6% in the first quarter. Rehmann Capital Advisory Group now owns 22,600 shares of the transportation company’s stock valued at $838,000 after acquiring an additional 364 shares in the last quarter. AA Financial Advisors LLC bought a new stake in CSX in the first quarter valued at $1,001,000. Smith Salley Wealth Management boosted its holdings in CSX by 24.7% in the first quarter. Smith Salley Wealth Management now owns 16,462 shares of the transportation company’s stock valued at $610,000 after acquiring an additional 3,260 shares in the last quarter. Finally, Whittier Trust Co. boosted its holdings in CSX by 0.9% in the first quarter. Whittier Trust Co. now owns 109,405 shares of the transportation company’s stock valued at $4,055,000 after acquiring an additional 1,000 shares in the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CSX has been the topic of several recent analyst reports. Jefferies Financial Group cut their price target on shares of CSX from $40.00 to $38.00 and set a “hold” rating on the stock in a report on Thursday, April 18th. Sanford C. Bernstein lifted their price target on shares of CSX from $35.00 to $36.00 and gave the company a “market perform” rating in a report on Monday. Susquehanna cut their price target on shares of CSX from $44.00 to $40.00 and set a “positive” rating on the stock in a report on Tuesday, June 25th. Royal Bank of Canada cut their price target on shares of CSX from $37.00 to $36.00 and set a “sector perform” rating on the stock in a report on Thursday, April 18th. Finally, Benchmark reiterated a “buy” rating and issued a $40.00 price target on shares of CSX in a report on Thursday, April 18th. Eight analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $37.39.

CSX Stock Performance

NASDAQ:CSX traded up $0.44 during mid-day trading on Wednesday, reaching $32.92. The company’s stock had a trading volume of 8,529,371 shares, compared to its average volume of 11,872,041. CSX Co. has a 12-month low of $29.03 and a 12-month high of $40.12. The firm’s fifty day moving average price is $33.37 and its two-hundred day moving average price is $35.09. The company has a current ratio of 1.15, a quick ratio of 1.00 and a debt-to-equity ratio of 1.42. The stock has a market cap of $64.36 billion, a P/E ratio of 17.85, a PEG ratio of 1.73 and a beta of 1.20.

CSX (NASDAQ:CSX) last released its quarterly 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 net margin of 24.75% and a return on equity of 29.58%. The firm had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.66 billion. During the same quarter in the prior year, the firm earned $0.48 EPS. The business’s revenue for the quarter was down .8% compared to the same quarter last year. On average, equities analysts forecast that CSX Co. will post 1.95 EPS for the current fiscal year.

CSX Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.46%. The ex-dividend date was Friday, May 31st. CSX’s payout ratio is currently 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.