Shell Asset Management Co. Sells 26,719 Shares of CSX Co. (NASDAQ:CSX)

Shell Asset Management Co. lowered its stake in CSX Co. (NASDAQ:CSX) by 42.9% in the first quarter, Holdings Channel.com reports. The institutional investor owned 35,500 shares of the transportation company’s stock after selling 26,719 shares during the quarter. Shell Asset Management Co.’s holdings in CSX were worth $1,316,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in CSX. International Assets Investment Management LLC raised its holdings in CSX by 3,241.9% in the 4th quarter. International Assets Investment Management LLC now owns 235,304 shares of the transportation company’s stock worth $8,158,000 after acquiring an additional 228,263 shares during the period. PFG Advisors increased its stake in shares of CSX by 2.1% in the first quarter. PFG Advisors now owns 18,880 shares of the transportation company’s stock worth $700,000 after purchasing an additional 387 shares during the period. Partners Group Holding AG increased its stake in shares of CSX by 26.8% in the fourth quarter. Partners Group Holding AG now owns 704,544 shares of the transportation company’s stock worth $24,427,000 after purchasing an additional 149,105 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of CSX by 5.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 723,344 shares of the transportation company’s stock worth $25,078,000 after purchasing an additional 34,730 shares during the last quarter. Finally, Sapient Capital LLC bought a new stake in CSX during the 4th quarter valued at approximately $1,279,000. Institutional investors own 73.57% of the company’s stock.

CSX Price Performance

NASDAQ CSX traded up $0.83 during trading on Friday, reaching $34.43. 3,814,019 shares of the company traded hands, compared to its average volume of 11,766,548. CSX Co. has a 1-year low of $29.03 and a 1-year high of $40.12. The company has a market cap of $67.31 billion, a price-to-earnings ratio of 18.46, a P/E/G ratio of 1.80 and a beta of 1.20. The stock’s 50 day moving average price is $33.43 and its two-hundred day moving average price is $35.05. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.00 and a current ratio of 1.15.

CSX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.39%. The ex-dividend date is Friday, August 30th. CSX’s dividend payout ratio is 26.37%.

Analyst Ratings Changes

CSX has been the topic of several recent analyst reports. Benchmark reaffirmed a “buy” rating and issued a $40.00 price target on shares of CSX in a research report on Thursday, April 18th. UBS Group dropped their target price on shares of CSX from $46.00 to $44.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. Bank of America downgraded shares of CSX from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a report on Monday, July 8th. Susquehanna dropped their price objective 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. Finally, Royal Bank of Canada reduced their target price on shares of CSX from $37.00 to $36.00 and set a “sector perform” rating for the company in a research note on Thursday, April 18th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, CSX currently has an average rating of “Moderate Buy” and a consensus target price of $38.14.

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.