Hartford Investment Management Co. grew its position in CSX Co. (NASDAQ:CSX) by 0.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 112,377 shares of the transportation company’s stock after purchasing an additional 666 shares during the period. Hartford Investment Management Co.’s holdings in CSX were worth $8,695,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Family Legacy Inc. increased its holdings in shares of CSX by 2.8% during the 2nd quarter. Family Legacy Inc. now owns 14,465 shares of the transportation company’s stock valued at $1,119,000 after acquiring an additional 390 shares during the last quarter. Brookstone Capital Management acquired a new position in shares of CSX during the 2nd quarter valued at about $387,000. Artemis Investment Management LLP increased its holdings in shares of CSX by 12.8% during the 2nd quarter. Artemis Investment Management LLP now owns 166,670 shares of the transportation company’s stock valued at $12,862,000 after acquiring an additional 18,900 shares during the last quarter. Greenleaf Trust increased its holdings in shares of CSX by 1.7% during the 2nd quarter. Greenleaf Trust now owns 25,687 shares of the transportation company’s stock valued at $1,987,000 after acquiring an additional 417 shares during the last quarter. Finally, Westside Investment Management Inc. acquired a new position in shares of CSX during the 2nd quarter valued at about $87,000. 76.75% of the stock is currently owned by institutional investors.
CSX opened at $65.68 on Monday. The firm has a market cap of $53.57 billion, a price-to-earnings ratio of 17.10, a P/E/G ratio of 1.17 and a beta of 1.21. The firm has a 50 day simple moving average of $75.10. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.55 and a quick ratio of 1.44. CSX Co. has a 12-month low of $58.47 and a 12-month high of $80.73.
CSX (NASDAQ:CSX) last released its earnings results on Tuesday, July 16th. The transportation company reported $1.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.11 by ($0.03). The business had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.14 billion. CSX had a net margin of 27.87% and a return on equity of 26.96%. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period last year, the business earned $1.01 EPS. As a group, equities research analysts expect that CSX Co. will post 4.15 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be given a $0.24 dividend. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.46%. CSX’s dividend payout ratio is currently 25.00%.
In other CSX news, EVP Nathan D. Goldman sold 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $79.50, for a total value of $556,500.00. Following the completion of the sale, the executive vice president now owns 79,697 shares in the company, valued at approximately $6,335,911.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.83% of the stock is currently owned by company insiders.
A number of research analysts have recently commented on the company. Stephens lowered CSX from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $86.00 to $79.00 in a report on Wednesday, July 17th. Cascend Securities lowered CSX from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Morgan Stanley increased their price objective on CSX from $55.00 to $57.00 and gave the company an “underweight” rating in a report on Wednesday, April 17th. Stifel Nicolaus set a $80.00 price objective on CSX and gave the company a “hold” rating in a report on Wednesday, April 17th. Finally, Credit Suisse Group lowered their price objective on CSX from $92.00 to $86.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. Three analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have issued a buy rating to the company. CSX currently has a consensus rating of “Hold” and a consensus price target of $78.13.
CSX Company Profile
CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services, as well as transports intermodal containers and trailers. It transports chemicals, automotive, agricultural and food products, minerals, fertilizers, forest products, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.
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