Wells Fargo & Company MN decreased its position in shares of CSX Co. (NASDAQ:CSX) by 1.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,154,707 shares of the transportation company’s stock after selling 49,397 shares during the period. Wells Fargo & Company MN’s holdings in CSX were worth $321,450,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in CSX. Impala Asset Management LLC acquired a new position in CSX during the 1st quarter worth $88,463,000. Magellan Asset Management Ltd bought a new position in shares of CSX during the 1st quarter worth about $73,749,000. Geode Capital Management LLC increased its holdings in shares of CSX by 6.6% during the 4th quarter. Geode Capital Management LLC now owns 10,386,802 shares of the transportation company’s stock worth $644,194,000 after purchasing an additional 646,745 shares during the period. Lazard Asset Management LLC increased its holdings in shares of CSX by 44.1% during the 1st quarter. Lazard Asset Management LLC now owns 2,025,436 shares of the transportation company’s stock worth $151,542,000 after purchasing an additional 619,542 shares during the period. Finally, First Trust Advisors LP increased its holdings in shares of CSX by 157.7% during the 1st quarter. First Trust Advisors LP now owns 889,852 shares of the transportation company’s stock worth $66,579,000 after purchasing an additional 544,542 shares during the period. 75.63% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently issued reports on CSX. Royal Bank of Canada dropped their price objective on shares of CSX to $75.00 and set a “sector perform” rating on the stock in a report on Wednesday, July 17th. Deutsche Bank dropped their price objective on shares of CSX from $89.00 to $87.00 and set a “buy” rating on the stock in a report on Wednesday, June 12th. Goldman Sachs Group began coverage on shares of CSX in a report on Wednesday, July 10th. They set a “neutral” rating and a $86.00 price objective on the stock. Raymond James dropped their price objective on shares of CSX from $84.00 to $81.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. Finally, Loop Capital downgraded shares of CSX from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $85.00 to $81.00 in a report on Wednesday, July 10th. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $78.13.
In related news, EVP Nathan D. Goldman sold 7,000 shares of the company’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $79.50, for a total value of $556,500.00. Following the sale, the executive vice president now owns 79,697 shares of the company’s stock, valued at $6,335,911.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 4.83% of the company’s stock.
NASDAQ CSX traded down $1.52 on Friday, reaching $64.62. The company’s stock had a trading volume of 4,482,875 shares, compared to its average volume of 5,033,635. The firm has a market cap of $52.79 billion, a PE ratio of 16.83, a price-to-earnings-growth ratio of 1.15 and a beta of 1.21. The business has a 50-day moving average price of $70.11 and a 200 day moving average price of $74.11. CSX Co. has a 52 week low of $58.47 and a 52 week high of $80.73. The company has a current ratio of 1.55, a quick ratio of 1.44 and a debt-to-equity ratio of 1.26.
CSX (NASDAQ:CSX) last posted its earnings results on Tuesday, July 16th. The transportation company reported $1.08 earnings per share 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 the consensus estimate of $3.14 billion. CSX had a net margin of 27.87% and a return on equity of 26.96%. The business’s revenue was down 1.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.01 EPS. Analysts anticipate that CSX Co. will post 4.14 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be paid 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 yield of 1.49%. CSX’s payout ratio is currently 25.00%.
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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