Twin Capital Management Inc. Sells 28,150 Shares of CSX Co. (NASDAQ:CSX)

Twin Capital Management Inc. reduced its holdings in CSX Co. (NASDAQ:CSX) by 52.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,670 shares of the transportation company’s stock after selling 28,150 shares during the quarter. Twin Capital Management Inc.’s holdings in CSX were worth $1,986,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Dimensional Fund Advisors LP increased its stake in shares of CSX by 0.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,311,053 shares of the transportation company’s stock valued at $267,854,000 after acquiring an additional 30,225 shares during the last quarter. Geode Capital Management LLC increased its position in CSX by 6.6% during the 4th quarter. Geode Capital Management LLC now owns 10,386,802 shares of the transportation company’s stock worth $644,194,000 after purchasing an additional 646,745 shares in the last quarter. Prime Capital Investment Advisors LLC acquired a new stake in CSX during the 1st quarter worth approximately $90,000. Spirit of America Management Corp NY increased its position in CSX by 2.2% during the 1st quarter. Spirit of America Management Corp NY now owns 23,025 shares of the transportation company’s stock worth $1,723,000 after purchasing an additional 500 shares in the last quarter. Finally, Appleton Partners Inc. MA increased its position in CSX by 19.0% during the 1st quarter. Appleton Partners Inc. MA now owns 43,144 shares of the transportation company’s stock worth $3,228,000 after purchasing an additional 6,886 shares in the last quarter. Institutional investors own 76.74% of the company’s stock.

A number of analysts recently issued reports on the stock. Credit Suisse Group dropped their target price on shares of CSX from $92.00 to $86.00 and set an “outperform” rating for the company in a research report on Wednesday, July 17th. Royal Bank of Canada lowered their price objective on shares of CSX to $75.00 and set a “sector perform” rating for the company in a research report on Wednesday, July 17th. ValuEngine downgraded shares of CSX from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Goldman Sachs Group initiated coverage on shares of CSX in a research report on Wednesday, July 10th. They issued a “neutral” rating and a $86.00 price objective for the company. Finally, BidaskClub downgraded shares of CSX from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 27th. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have given a buy rating to the company. CSX has an average rating of “Hold” and a consensus price target of $78.13.

In related news, EVP Nathan D. Goldman sold 7,000 shares of CSX stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $79.50, for a total transaction of $556,500.00. Following the transaction, the executive vice president now directly owns 79,697 shares of the company’s stock, valued at $6,335,911.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 4.83% of the stock is currently owned by company insiders.

CSX stock traded up $0.85 during mid-day trading on Friday, reaching $65.26. The company had a trading volume of 137,691 shares, compared to its average volume of 7,807,344. The company has a quick ratio of 1.44, a current ratio of 1.55 and a debt-to-equity ratio of 1.26. The stock has a market capitalization of $52.96 billion, a P/E ratio of 16.99, a P/E/G ratio of 1.15 and a beta of 1.21. CSX Co. has a one year low of $58.47 and a one year high of $80.73. The stock’s 50-day simple moving average is $72.12 and its two-hundred day simple moving average is $74.31.

CSX (NASDAQ:CSX) last posted its earnings results on Tuesday, July 16th. The transportation company reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.03). The company had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.14 billion. CSX had a net margin of 27.87% and a return on equity of 26.96%. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.01 earnings per share. On average, research analysts forecast that CSX Co. will post 4.15 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend is Thursday, August 29th. CSX’s dividend payout ratio (DPR) is 25.00%.

About CSX

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services, as well as transports intermodal containers and trailers. It transports chemicals, automotive, agricultural and food products, minerals, fertilizers, forest products, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.

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Institutional Ownership by Quarter for CSX (NASDAQ:CSX)

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