LRI Investments LLC Decreases Stock Position in CSX Corporation $CSX

LRI Investments LLC cut its stake in CSX Corporation (NASDAQ:CSX) by 7.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,662 shares of the transportation company’s stock after selling 592 shares during the period. LRI Investments LLC’s holdings in CSX were worth $250,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Rossby Financial LCC purchased a new stake in CSX during the 1st quarter worth about $28,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of CSX in the 1st quarter valued at about $30,000. Kessler Investment Group LLC purchased a new stake in shares of CSX in the 1st quarter valued at about $32,000. Cornerstone Planning Group LLC lifted its holdings in shares of 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 purchasing an additional 444 shares during the last quarter. Finally, S Bank Fund Management Ltd purchased a new stake in shares of CSX in the 1st quarter valued at about $45,000. 73.57% of the stock is owned by hedge funds and other institutional investors.

CSX Price Performance

Shares of NASDAQ:CSX opened at $35.49 on Monday. The business’s 50 day simple moving average is $34.29 and its 200-day simple moving average is $32.22. The firm has a market capitalization of $66.16 billion, a price-to-earnings ratio of 21.91, a price-to-earnings-growth ratio of 2.77 and a beta of 1.29. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.77 and a quick ratio of 0.63. CSX Corporation has a 12 month low of $26.22 and a 12 month high of $37.25.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Wednesday, July 23rd. The transportation company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.42 by $0.02. The business had revenue of $3.57 billion for the quarter, compared to analyst estimates of $3.57 billion. CSX had a return on equity of 25.48% and a net margin of 21.92%.The company’s quarterly revenue was down 3.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.49 EPS. As a group, equities analysts forecast that CSX Corporation will post 1.83 earnings per share for the current fiscal year.

CSX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 28th will be paid a $0.13 dividend. The ex-dividend date of this dividend is Friday, November 28th. This represents a $0.52 dividend on an annualized basis and a yield of 1.5%. CSX’s dividend payout ratio is presently 32.10%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Barclays boosted their target price on CSX from $36.00 to $38.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Wall Street Zen cut CSX from a “hold” rating to a “sell” rating in a research report on Friday, October 3rd. Jefferies Financial Group restated a “buy” rating on shares of CSX in a research report on Monday, September 29th. Citigroup boosted their price target on CSX from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, July 9th. Finally, JPMorgan Chase & Co. dropped their price target on CSX from $41.00 to $40.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $38.26.

About CSX

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.