Nuveen Asset Management LLC Lowers Stock Holdings in CSX Co. (NASDAQ:CSX)

Nuveen Asset Management LLC lowered its stake in shares of CSX Co. (NASDAQ:CSX) by 2.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,540,308 shares of the transportation company’s stock after selling 271,642 shares during the quarter. Nuveen Asset Management LLC’s holdings in CSX were worth $340,136,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CSX. Geode Capital Management LLC grew its stake in shares of CSX by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 41,633,333 shares of the transportation company’s stock valued at $1,339,555,000 after purchasing an additional 726,507 shares during the last quarter. Invesco Ltd. grew its position in CSX by 13.5% in the 4th quarter. Invesco Ltd. now owns 25,103,077 shares of the transportation company’s stock valued at $810,076,000 after buying an additional 2,977,212 shares during the last quarter. Fisher Asset Management LLC grew its position in CSX by 1.2% in the 4th quarter. Fisher Asset Management LLC now owns 24,956,467 shares of the transportation company’s stock valued at $805,345,000 after buying an additional 299,536 shares during the last quarter. Norges Bank purchased a new position in CSX in the 4th quarter valued at $780,194,000. Finally, Bank of New York Mellon Corp boosted its holdings in shares of CSX by 40.5% in the fourth quarter. Bank of New York Mellon Corp now owns 23,350,087 shares of the transportation company’s stock valued at $753,507,000 after acquiring an additional 6,730,316 shares in the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Price Performance

CSX stock opened at $31.03 on Thursday. CSX Co. has a 52 week low of $26.22 and a 52 week high of $37.10. 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 firm’s 50-day simple moving average is $28.76 and its 200 day simple moving average is $31.81. The firm has a market capitalization of $58.29 billion, a PE ratio of 17.34, a P/E/G ratio of 1.92 and a beta of 1.22.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Wednesday, April 16th. The transportation company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.05). CSX had a net margin of 23.95% and a return on equity of 28.15%. The business had revenue of $3.42 billion during the quarter, compared to analysts’ expectations of $3.53 billion. On average, equities research analysts predict that CSX Co. will post 1.83 EPS for the current fiscal year.

CSX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date is Friday, May 30th. CSX’s payout ratio is currently 31.14%.

Analyst Ratings Changes

Several analysts have recently weighed in on CSX shares. Evercore ISI lowered their target price on shares of CSX from $35.00 to $33.00 and set an “outperform” rating on the stock in a report on Thursday, April 17th. Stephens reaffirmed an “overweight” rating and issued a $38.00 price objective on shares of CSX in a report on Friday, January 24th. Jefferies Financial Group lowered their price objective on CSX from $37.00 to $33.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Robert W. Baird decreased their price target on CSX from $39.00 to $38.00 and set an “outperform” rating on the stock in a research note on Friday, January 24th. Finally, Loop Capital downgraded CSX from a “buy” rating to a “hold” rating and decreased their price target for the company from $40.00 to $34.00 in a research note on Monday, February 3rd. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, CSX currently has an average rating of “Moderate Buy” and a consensus price target of $33.90.

CSX Company 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.