Principal Financial Group Inc. Sells 6,887 Shares of CSX Corp. (CSX)
Principal Financial Group Inc. cut its stake in shares of CSX Corp. (NASDAQ:CSX) by 0.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,310,960 shares of the company’s stock after selling 6,887 shares during the period. Principal Financial Group Inc. owned approximately 0.14% of CSX Corp. worth $34,190,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CSX. Legal & General Group Plc increased its stake in CSX Corp. by 1.6% in the first quarter. Legal & General Group Plc now owns 4,290,750 shares of the company’s stock worth $110,488,000 after buying an additional 66,790 shares in the last quarter. Capital Analysts LLC increased its stake in CSX Corp. by 241.5% in the second quarter. Capital Analysts LLC now owns 7,567 shares of the company’s stock worth $711,000 after buying an additional 5,351 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in CSX Corp. during the first quarter worth $454,000. Simmons Bank purchased a new stake in CSX Corp. during the first quarter worth $329,000. Finally, Wellington Management Group LLP increased its stake in CSX Corp. by 20.1% in the first quarter. Wellington Management Group LLP now owns 37,879,182 shares of the company’s stock worth $975,389,000 after buying an additional 6,331,519 shares in the last quarter. 68.55% of the stock is owned by institutional investors.
Shares of CSX Corp. (NASDAQ:CSX) traded up 0.58% on Wednesday, reaching $29.27. The company’s stock had a trading volume of 1,270,395 shares. The stock has a market capitalization of $27.69 billion, a PE ratio of 15.98 and a beta of 1.32. CSX Corp. has a 1-year low of $21.33 and a 1-year high of $30.53. The stock has a 50-day moving average of $28.43 and a 200 day moving average of $26.93.
CSX Corp. (NASDAQ:CSX) last posted its quarterly earnings data on Wednesday, July 13th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.03. The business earned $2.70 billion during the quarter, compared to analysts’ expectations of $2.69 billion. CSX Corp. had a net margin of 16.07% and a return on equity of 15.24%. The business’s revenue was down 11.7% on a year-over-year basis. During the same period last year, the firm posted $0.56 earnings per share. On average, equities analysts forecast that CSX Corp. will post $1.75 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 2.47%. The ex-dividend date was Monday, August 29th. CSX Corp.’s dividend payout ratio (DPR) is presently 39.13%.
A number of equities analysts have issued reports on the company. Credit Suisse Group AG restated a “buy” rating on shares of CSX Corp. in a report on Tuesday, September 13th. Wolfe Research upgraded CSX Corp. from a “market perform” rating to an “outperform” rating and set a $35.00 target price on the stock in a report on Tuesday, September 13th. Citigroup Inc. increased their target price on CSX Corp. from $29.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, September 13th. Bank of America Corp. reiterated a “buy” rating and issued a $32.00 target price on shares of CSX Corp. in a report on Monday, September 12th. Finally, Barclays PLC upgraded CSX Corp. from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $30.00 to $35.00 in a report on Monday, September 12th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $29.54.
About CSX Corp.
CSX Corporation, together with its subsidiaries, is a transportation company. The Company provides rail-based transportation services, including rail service and the transport of intermodal containers and trailers. The Company serves three lines of business, such as merchandise business, coal business and intermodal business.
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