Handelsbanken Fonder AB Cuts Stock Holdings in CSX Corporation $CSX

Handelsbanken Fonder AB lessened its holdings in CSX Corporation (NASDAQ:CSX) by 5.8% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,000,655 shares of the transportation company’s stock after selling 61,967 shares during the period. Handelsbanken Fonder AB’s holdings in CSX were worth $35,533,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Twin Peaks Wealth Advisors LLC purchased a new position in CSX during the second quarter valued at approximately $25,000. WFA of San Diego LLC purchased a new position in shares of CSX in the 2nd quarter valued at $28,000. Pinnacle Bancorp Inc. raised its position in shares of CSX by 121.5% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 1,329 shares of the transportation company’s stock worth $47,000 after acquiring an additional 729 shares in the last quarter. Cornerstone Planning Group LLC raised its position in shares of CSX by 63.5% in the 3rd quarter. Cornerstone Planning Group LLC now owns 2,470 shares of the transportation company’s stock worth $88,000 after acquiring an additional 959 shares in the last quarter. Finally, Root Financial Partners LLC purchased a new stake in shares of CSX during the 3rd quarter worth $157,000. 73.57% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CSX has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft lifted their target price on CSX from $40.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. JPMorgan Chase & Co. cut their price objective on shares of CSX from $43.00 to $41.00 and set an “overweight” rating on the stock in a research report on Friday, January 23rd. Argus increased their target price on shares of CSX from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Tuesday, January 27th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $40.00 price target on shares of CSX in a report on Thursday, December 18th. Finally, Citigroup reduced their price target on CSX from $42.00 to $41.00 and set a “buy” rating on the stock in a research report on Friday, January 23rd. Nineteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $39.77.

CSX News Summary

Here are the key news stories impacting CSX this week:

• Positive Sentiment: Board raises quarterly dividend 8% to $0.14/share (annualized yield ~1.3%), reinforcing return-of-capital policy and signaling financial confidence; this is the primary driver of today’s positive sentiment. CSX Corporation Announces Increase to Quarterly Dividend
• Positive Sentiment: Analyst / press coverage frames the dividend hike and ongoing buybacks as a shareholder-friendly capital allocation strategy that can support valuation and attract income?oriented investors. CSX Rewards Shareholders With 8% Hike in Quarterly Dividend
• Neutral Sentiment: Industry briefs (Railway Age) note routine Class I activity including CSX — useful context on sector trends but no single operational development that changes near-term fundamentals. Class I Briefs: CSX, CPKC, UP
• Neutral Sentiment: Local coverage highlights CSX’s size and role in Florida’s economy (top?10 list for state companies) — reputationally positive but unlikely to move the stock materially on its own. Jacksonville company ranks among top 10 richest companies in Florida
• Neutral Sentiment: CEO feature pieces (profile/interview) provide management color and continuity — useful for longer-term investor conviction but not an immediate catalyst. CSX CEO says he ‘flunked retirement’ and found the right fit
• Negative Sentiment: Insider and institutional activity is mixed — Quiver/other summaries note several insider sales in recent months and large institutional rebalancings; that raises some caution about near-term conviction among certain holders. Investors should watch insider flows and institutional position changes for any shift in sentiment. CSX Corp. Approves $0.14 Quarterly Dividend, Reflecting 8% Increase

Insider Transactions at CSX

In other news, EVP Stephen Fortune sold 31,456 shares of the firm’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $38.65, for a total value of $1,215,774.40. Following the completion of the transaction, the executive vice president directly owned 82,034 shares in the company, valued at $3,170,614.10. This trade represents a 27.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Diana B. Sorfleet sold 90,000 shares of the company’s stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $41.56, for a total value of $3,740,400.00. Following the completion of the sale, the chief accounting officer owned 165,613 shares in the company, valued at approximately $6,882,876.28. This represents a 35.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 188,123 shares of company stock worth $7,454,854 over the last three months. Corporate insiders own 0.55% of the company’s stock.

CSX Stock Up 0.1%

NASDAQ:CSX opened at $42.69 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.69 and a debt-to-equity ratio of 1.38. CSX Corporation has a twelve month low of $26.22 and a twelve month high of $42.81. The company has a market cap of $79.38 billion, a PE ratio of 27.72, a P/E/G ratio of 2.18 and a beta of 1.30. The company’s 50 day moving average is $38.26 and its two-hundred day moving average is $36.10.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Thursday, January 22nd. The transportation company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). The company had revenue of $3.51 billion during the quarter, compared to analysts’ expectations of $3.59 billion. CSX had a return on equity of 23.88% and a net margin of 20.50%.The company’s quarterly revenue was down .9% on a year-over-year basis. During the same period in the prior year, the business posted $0.42 EPS. Analysts anticipate that CSX Corporation will post 1.83 EPS for the current year.

CSX Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.3%. The ex-dividend date is Friday, February 27th. This is a boost from CSX’s previous quarterly dividend of $0.13. CSX’s dividend payout ratio (DPR) is presently 33.77%.

About CSX

CSX Corporation is a leading North American transportation company that provides rail-based freight services and supply-chain solutions. Its operating subsidiary, CSX Transportation, moves a wide range of goods for customers across multiple industries, using a combination of long-haul rail service, intermodal operations and terminal and yard services. The company focuses on delivering efficient, reliable freight transportation between major production centers, consumption markets and port gateways.

CSX’s freight portfolio includes intermodal containers and trailers, bulk commodities, industrial products and specialized unit trains.