Tradewinds Global Investors Lowers stake in CSX Corporation (CSX)

CSX Corporation (CSX) : Tradewinds Global Investors reduced its stake in CSX Corporation by 12.73% during the most recent quarter end. The investment management company now holds a total of 661,124 shares of CSX Corporation which is valued at $18,551,139 after selling 96,471 shares in CSX Corporation , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.CSX Corporation makes up approximately 1.13% of Tradewinds Global Investors’s portfolio.

Other Hedge Funds, Including , Pekin Singer Strauss Asset Management Il reduced its stake in CSX by selling 191 shares or 0.99% in the most recent quarter. The Hedge Fund company now holds 19,014 shares of CSX which is valued at $536,195. CSX Corporation makes up approx 0.11% of Pekin Singer Strauss Asset Management Il’s portfolio.Shelton Capital Management reduced its stake in CSX by selling 2,818 shares or 3.92% in the most recent quarter. The Hedge Fund company now holds 69,042 shares of CSX which is valued at $1,946,984. CSX Corporation makes up approx 0.17% of Shelton Capital Management’s portfolio. Herndon Capital Management added CSX to its portfolio by purchasing 88 company shares during the most recent quarter which is valued at $2,493.Retirement Systems Of Alabama reduced its stake in CSX by selling 10,823 shares or 2.17% in the most recent quarter. The Hedge Fund company now holds 487,309 shares of CSX which is valued at $13,746,987. CSX Corporation makes up approx 0.08% of Retirement Systems Of Alabama’s portfolio.

CSX Corporation (CSX) witnessed a volatile trading activity on Friday , and eventually ended flat at 0.00% or 0 points without letting the bulls or bears take much advantage. The trading began at $28.57 and reached the intraday high at $28.75. The bulls started the profit booking and pushed the shares to intraday low of $28.5. The trading session was marked by a volume range of 47,82,294 shares exchanging hands. The 52-week high of the shares is $30.53 and the 52-week low is $21.325. The market cap of the company stands at $27,122 M and there are 94,59,90,950 shares in public circulation.

On the company’s financial health, CSX Corporation reported $0.47 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Jul 13, 2016. Analyst had a consensus of $0.44. The company had revenue of $2670.00 million for the quarter, compared to analysts expectations of $2686.99 million. The company’s revenue was down -12.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.56 EPS.

Investors should note that on Jul 13, 2016, CSX Corporation announced a cash dividend of $0.1800. The company’s management has announced Aug 29, 2016 as the ex-dividend date and fixed the record date on Aug 31, 2016. The payable date has been fixed on Sep 15, 2016.

Many Wall Street Analysts have commented on CSX Corporation. CSX Corporation was Downgraded by BB&T Capital Mkts to ” Hold” on Jul 15, 2016. Company shares were Reiterated by Cowen on Jul 15, 2016 to “Market Perform”, Firm has raised the Price Target to $ 30 from a previous price target of $27 .CSX Corporation was Downgraded by Stifel to ” Hold” on Jul 15, 2016.

CSX Corporation (CSX) together with its subsidiaries is a transportation company. The Company provides rail-based transportation services including traditional rail service and the transport of intermodal containers and trailers. The Company has three lines of business: merchandise business coal business and the intermodal business. The Company’s merchandise business transports aggregates (which include crushed stone sand and gravel) metal phosphate fertilizer food consumer (manufactured goods and appliances) agricultural automotive paper and chemical products. Its coal business transports domestic coal coke and iron ore to electricity-generating power plants steel manufacturers and industrial plants as well as export coal to deep-water port facilities. Through a network of around 50 terminals the intermodal business serves markets east of the Mississippi and transports manufactured consumer goods in containers providing truck-like services for longer shipments.

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