Cbre Investment Management Listed Real Assets LLC Sells 978,052 Shares of CSX Corporation $CSX

Cbre Investment Management Listed Real Assets LLC lowered its stake in CSX Corporation (NASDAQ:CSX) by 65.3% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 519,551 shares of the transportation company’s stock after selling 978,052 shares during the quarter. Cbre Investment Management Listed Real Assets LLC’s holdings in CSX were worth $16,953,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in CSX. Nuveen LLC purchased a new stake in CSX in the 1st quarter worth approximately $182,550,000. Amundi boosted its position in shares of CSX by 34.5% in the first quarter. Amundi now owns 13,017,397 shares of the transportation company’s stock worth $364,357,000 after purchasing an additional 3,341,136 shares during the period. Ameriprise Financial Inc. increased its stake in shares of CSX by 12.5% in the first quarter. Ameriprise Financial Inc. now owns 23,456,085 shares of the transportation company’s stock worth $690,359,000 after purchasing an additional 2,599,518 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of CSX by 19.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 15,312,107 shares of the transportation company’s stock worth $450,635,000 after purchasing an additional 2,454,895 shares in the last quarter. Finally, Alliancebernstein L.P. raised its position in shares of CSX by 17.2% during the 1st quarter. Alliancebernstein L.P. now owns 13,389,771 shares of the transportation company’s stock valued at $394,061,000 after purchasing an additional 1,964,994 shares during the period. 73.57% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CSX. Evercore ISI reaffirmed an “outperform” rating and issued a $39.00 target price (up previously from $37.00) on shares of CSX in a report on Friday, October 17th. Wolfe Research boosted their price objective on CSX from $40.00 to $43.00 and gave the company an “outperform” rating in a research report on Tuesday, October 7th. Bank of America cut their target price on CSX from $42.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, September 24th. Susquehanna decreased their target price on CSX from $35.00 to $34.00 and set a “neutral” rating on the stock in a research note on Thursday, September 25th. Finally, Benchmark upped their price target on CSX from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $39.09.

Insider Activity

In other CSX news, SVP Michael S. Burns sold 24,249 shares of CSX stock in a transaction on Monday, October 20th. The shares were sold at an average price of $36.76, for a total transaction of $891,393.24. Following the completion of the transaction, the senior vice president directly owned 51,640 shares of the company’s stock, valued at $1,898,286.40. The trade was a 31.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kevin S. Boone sold 31,053 shares of the stock in a transaction on Wednesday, October 22nd. The shares were sold at an average price of $36.09, for a total transaction of $1,120,702.77. Following the completion of the sale, the executive vice president directly owned 197,521 shares in the company, valued at approximately $7,128,532.89. This represents a 13.59% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.55% of the company’s stock.

CSX Stock Performance

Shares of NASDAQ:CSX opened at $35.16 on Friday. The firm has a fifty day simple moving average of $34.57 and a two-hundred day simple moving average of $33.22. CSX Corporation has a 52 week low of $26.22 and a 52 week high of $37.25. The company has a quick ratio of 0.71, a current ratio of 0.85 and a debt-to-equity ratio of 1.45. The stock has a market capitalization of $65.47 billion, a P/E ratio of 22.98, a PEG ratio of 2.75 and a beta of 1.31.

CSX (NASDAQ:CSX) last announced its earnings results on Thursday, October 16th. The transportation company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.02. The firm had revenue of $3.59 billion for the quarter, compared to analysts’ expectations of $3.60 billion. CSX had a net margin of 20.55% and a return on equity of 24.95%. The business’s revenue was down .9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.45 EPS. On average, analysts expect that CSX Corporation will post 1.83 earnings per share for the current fiscal year.

CSX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 28th will be issued a $0.13 dividend. The ex-dividend date is Friday, November 28th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.5%. CSX’s payout ratio is 33.99%.

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.