Logan Capital Management Inc. Trims Stock Position in CSX Corporation $CSX

Logan Capital Management Inc. lowered its stake in CSX Corporation (NASDAQ:CSX) by 4.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,601 shares of the transportation company’s stock after selling 369 shares during the quarter. Logan Capital Management Inc.’s holdings in CSX were worth $224,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Rossby Financial LCC purchased a new position in shares of CSX during the first quarter worth $28,000. Fourth Dimension Wealth LLC acquired a new position in CSX during the 4th quarter worth about $29,000. Barnes Dennig Private Wealth Management LLC purchased a new position in CSX during the 1st quarter valued at about $30,000. Kessler Investment Group LLC purchased a new position in CSX during the 1st quarter valued at about $32,000. Finally, Cornerstone Planning Group LLC grew its position in CSX by 45.8% in the 1st quarter. Cornerstone Planning Group LLC now owns 1,414 shares of the transportation company’s stock valued at $39,000 after acquiring an additional 444 shares in the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Analysts Set New Price Targets

CSX has been the topic of several analyst reports. The Goldman Sachs Group reiterated a “neutral” rating and issued a $35.00 price objective on shares of CSX in a research note on Monday, June 2nd. Baird R W raised CSX to a “strong-buy” rating in a research report on Tuesday, July 1st. Citigroup upped their target price on shares of CSX from $36.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, July 9th. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $36.00 price objective (up from $33.00) on shares of CSX in a research report on Tuesday, July 8th. Finally, Barclays boosted their target price on shares of CSX from $36.00 to $38.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $37.00.

CSX Stock Performance

NASDAQ:CSX opened at $32.20 on Wednesday. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.77 and a quick ratio of 0.63. The firm has a market cap of $60.03 billion, a price-to-earnings ratio of 19.88, a price-to-earnings-growth ratio of 2.42 and a beta of 1.25. The firm’s fifty day moving average price is $34.32 and its 200 day moving average price is $31.63. CSX Corporation has a 1-year low of $26.22 and a 1-year high of $37.25.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.02. CSX had a net margin of 21.92% and a return on equity of 25.48%. The business had revenue of $3.57 billion during the quarter, compared to the consensus estimate of $3.57 billion. During the same quarter last year, the firm posted $0.49 EPS. The business’s revenue was down 3.5% compared to the same quarter last year. On average, sell-side analysts expect that CSX Corporation will post 1.83 EPS for the current year.

CSX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be issued a dividend of $0.13 per share. The ex-dividend date is Friday, August 29th. This represents a $0.52 annualized dividend and a dividend yield of 1.6%. CSX’s dividend payout ratio (DPR) is 32.10%.

CSX Company 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.