Fifth Third Bancorp Sells 20,818 Shares of CSX Co. (NASDAQ:CSX)

Fifth Third Bancorp lowered its stake in CSX Co. (NASDAQ:CSX) by 6.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 289,921 shares of the transportation company’s stock after selling 20,818 shares during the period. Fifth Third Bancorp’s holdings in CSX were worth $9,356,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CSX. Perpetual Ltd bought a new stake in CSX in the 4th quarter valued at approximately $83,301,000. Assenagon Asset Management S.A. lifted its position in shares of CSX by 318.5% in the third quarter. Assenagon Asset Management S.A. now owns 3,270,966 shares of the transportation company’s stock worth $112,946,000 after purchasing an additional 2,489,329 shares in the last quarter. FMR LLC boosted its holdings in CSX by 10.2% during the third quarter. FMR LLC now owns 15,612,862 shares of the transportation company’s stock worth $539,112,000 after purchasing an additional 1,447,651 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its position in CSX by 275.3% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,854,075 shares of the transportation company’s stock valued at $62,019,000 after purchasing an additional 1,360,075 shares in the last quarter. Finally, Svenska Handelsbanken AB publ acquired a new stake in CSX in the 3rd quarter valued at $31,018,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CSX shares. Barclays reduced their price objective on shares of CSX from $40.00 to $38.00 and set an “overweight” rating for the company in a research note on Friday. Susquehanna decreased their price target on CSX from $40.00 to $39.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Royal Bank of Canada dropped their price objective on CSX from $34.00 to $33.00 and set a “sector perform” rating on the stock in a research note on Friday. TD Cowen cut their price objective on CSX from $36.00 to $35.00 and set a “hold” rating for the company in a report on Thursday, October 17th. Finally, Loop Capital lowered their target price on shares of CSX from $43.00 to $42.00 and set a “buy” rating on the stock in a report on Thursday, October 17th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.68.

CSX Stock Performance

CSX opened at $32.69 on Monday. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.39 and a quick ratio of 1.23. The business has a fifty day simple moving average of $33.53 and a 200 day simple moving average of $33.95. CSX Co. has a 1 year low of $31.43 and a 1 year high of $40.12. The company has a market capitalization of $63.04 billion, a PE ratio of 17.58, a price-to-earnings-growth ratio of 2.06 and a beta of 1.22.

CSX (NASDAQ:CSX) last announced its earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). CSX had a net margin of 24.77% and a return on equity of 28.92%. Research analysts expect that CSX Co. will post 1.83 EPS for the current year.

CSX 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.