Envestnet Asset Management Inc. lessened its stake in CSX Co. (NASDAQ:CSX) by 2.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 25,910 shares of the transportation company’s stock after selling 712 shares during the quarter. Envestnet Asset Management Inc.’s holdings in CSX were worth $1,653,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Sumitomo Life Insurance Co. grew its holdings in shares of CSX by 4.1% during the second quarter. Sumitomo Life Insurance Co. now owns 19,295 shares of the transportation company’s stock worth $1,231,000 after buying an additional 768 shares in the last quarter. CENTRAL TRUST Co grew its holdings in shares of CSX by 4.7% during the second quarter. CENTRAL TRUST Co now owns 17,565 shares of the transportation company’s stock worth $1,120,000 after buying an additional 782 shares in the last quarter. Wedbush Securities Inc. grew its holdings in shares of CSX by 5.8% during the second quarter. Wedbush Securities Inc. now owns 15,218 shares of the transportation company’s stock worth $971,000 after buying an additional 833 shares in the last quarter. Trust Co. of Vermont grew its holdings in shares of CSX by 3.2% during the second quarter. Trust Co. of Vermont now owns 27,542 shares of the transportation company’s stock worth $1,756,000 after buying an additional 860 shares in the last quarter. Finally, Sapphire Star Partners LP grew its holdings in shares of CSX by 6.8% during the first quarter. Sapphire Star Partners LP now owns 13,562 shares of the transportation company’s stock worth $756,000 after buying an additional 862 shares in the last quarter. 74.53% of the stock is owned by institutional investors.
Shares of CSX stock opened at $73.34 on Tuesday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.48 and a current ratio of 1.66. The stock has a market cap of $63.11 billion, a PE ratio of 24.99, a PEG ratio of 1.53 and a beta of 1.24. CSX Co. has a twelve month low of $48.26 and a twelve month high of $76.24.
CSX (NASDAQ:CSX) last announced its quarterly earnings results on Tuesday, July 17th. The transportation company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.15. The firm had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3 billion. CSX had a net margin of 53.27% and a return on equity of 19.31%. The company’s revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.64 EPS. analysts forecast that CSX Co. will post 3.59 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 14th. Stockholders of record on Friday, August 31st were given a dividend of $0.22 per share. The ex-dividend date was Thursday, August 30th. This represents a $0.88 annualized dividend and a dividend yield of 1.20%. CSX’s payout ratio is 38.26%.
A number of equities research analysts have recently issued reports on the stock. BMO Capital Markets lowered shares of CSX from an “outperform” rating to a “market perform” rating and set a $65.00 target price for the company. in a report on Wednesday, September 5th. They noted that the move was a valuation call. BidaskClub lowered shares of CSX from a “buy” rating to a “hold” rating in a report on Friday, August 31st. Scotiabank set a $72.00 target price on shares of CSX and gave the stock a “hold” rating in a report on Wednesday, July 18th. TD Securities upped their target price on shares of CSX from $68.00 to $71.00 and gave the stock a “$69.00” rating in a report on Wednesday, July 18th. Finally, Raymond James upped their target price on shares of CSX from $70.00 to $75.00 and gave the stock a “$69.00” rating in a report on Wednesday, July 18th. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $69.45.
CSX Corporation, together with its subsidiaries, provides rail-based transportation services in the United States and Canada. The company offers rail services, as well as transports intermodal containers and trailers. It transports agricultural and food products, fertilizers, chemicals, automotive, metals and equipment, minerals, and forest products; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.
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