Cbre Investment Management Listed Real Assets LLC Sells 2,797,461 Shares of CSX Corporation $CSX

Cbre Investment Management Listed Real Assets LLC cut its stake in CSX Corporation (NASDAQ:CSX) by 65.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,497,603 shares of the transportation company’s stock after selling 2,797,461 shares during the period. Cbre Investment Management Listed Real Assets LLC owned 0.08% of CSX worth $44,074,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CSX. Marshall & Sterling Wealth Advisors Inc. bought a new stake in CSX in the fourth quarter valued at approximately $27,000. Rossby Financial LCC bought a new stake in CSX in the first quarter valued at approximately $28,000. Accredited Wealth Management LLC bought a new stake in CSX in the fourth quarter valued at approximately $29,000. Fourth Dimension Wealth LLC bought a new stake in CSX in the fourth quarter valued at approximately $29,000. Finally, Barnes Dennig Private Wealth Management LLC bought a new stake in CSX in the first quarter valued at approximately $30,000. 73.57% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CSX has been the topic of a number of research analyst reports. Barclays increased their price target on CSX from $36.00 to $38.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. Benchmark increased their price target on CSX from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. TD Cowen upgraded CSX from a “hold” rating to a “buy” rating and increased their price target for the stock from $32.00 to $45.00 in a report on Monday, July 21st. Sanford C. Bernstein restated a “market perform” rating and set a $36.00 price target (up from $33.00) on shares of CSX in a report on Tuesday, July 8th. Finally, Wells Fargo & Company increased their target price on CSX from $35.00 to $37.00 and gave the stock an “equal weight” rating in a report on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $37.00.

CSX Trading Down 3.6%

NASDAQ CSX opened at $34.58 on Friday. The firm has a market capitalization of $64.47 billion, a P/E ratio of 21.35, a PEG ratio of 2.68 and a beta of 1.25. The business has a fifty day simple moving average of $34.33 and a 200 day simple moving average of $31.67. CSX Corporation has a 12 month low of $26.22 and a 12 month high of $37.25. The company has a current ratio of 0.77, a quick ratio of 0.63 and a debt-to-equity ratio of 1.50.

CSX (NASDAQ:CSX) last announced its earnings results on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.02. CSX had a return on equity of 25.48% and a net margin of 21.92%.The firm had revenue of $3.57 billion during the quarter, compared to analyst estimates of $3.57 billion. During the same period last year, the firm posted $0.49 EPS. The business’s revenue was down 3.5% compared to the same quarter last year. On average, analysts predict that CSX Corporation will post 1.83 EPS for the current fiscal year.

CSX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.52 annualized dividend and a dividend yield of 1.5%. CSX’s dividend payout ratio (DPR) is currently 32.10%.

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.