Wedbush Securities Inc. cut its stake in CSX Co. (NASDAQ:CSX) by 21.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,331 shares of the transportation company’s stock after selling 3,712 shares during the period. Wedbush Securities Inc.’s holdings in CSX were worth $1,031,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Janus Henderson Group PLC boosted its stake in shares of CSX by 0.5% during the 1st quarter. Janus Henderson Group PLC now owns 12,929,434 shares of the transportation company’s stock worth $967,382,000 after buying an additional 60,234 shares during the last quarter. Egerton Capital UK LLP boosted its stake in shares of CSX by 2.5% during the 1st quarter. Egerton Capital UK LLP now owns 12,140,980 shares of the transportation company’s stock worth $908,388,000 after buying an additional 290,774 shares during the last quarter. Geode Capital Management LLC boosted its stake 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 buying an additional 646,745 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of CSX by 0.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,311,053 shares of the transportation company’s stock worth $267,854,000 after buying an additional 30,225 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its stake in shares of CSX by 2.9% during the 1st quarter. Wells Fargo & Company MN now owns 4,204,104 shares of the transportation company’s stock worth $314,551,000 after buying an additional 116,535 shares during the last quarter. 76.74% of the stock is owned by hedge funds and other institutional investors.
In other news, EVP Nathan D. Goldman sold 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $79.50, for a total transaction of $556,500.00. Following the transaction, the executive vice president now directly owns 79,697 shares of the company’s stock, valued at $6,335,911.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.83% of the stock is currently owned by company insiders.
CSX has been the subject of a number of recent research reports. BMO Capital Markets increased their price objective on shares of CSX from $76.00 to $78.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 17th. They noted that the move was a valuation call. ValuEngine downgraded shares of CSX from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Stifel Nicolaus set a $80.00 target price on shares of CSX and gave the company a “hold” rating in a research note on Wednesday, April 17th. Deutsche Bank cut their target price on shares of CSX from $89.00 to $87.00 and set a “buy” rating for the company in a research note on Wednesday, June 12th. Finally, Stephens downgraded shares of CSX from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $86.00 to $79.00 in a research note on Wednesday, July 17th. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $78.13.
CSX stock traded down $1.45 during trading hours on Wednesday, hitting $64.90. The company had a trading volume of 133,263 shares, compared to its average volume of 4,912,892. The stock has a market capitalization of $52.28 billion, a price-to-earnings ratio of 16.95, a PEG ratio of 1.16 and a beta of 1.21. 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 Co. has a one year low of $58.47 and a one year high of $80.73. The business’s 50-day moving average is $72.58.
CSX (NASDAQ:CSX) last released its quarterly earnings results on Tuesday, July 16th. The transportation company reported $1.08 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.11 by ($0.03). The company 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 firm’s revenue was down 1.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.01 earnings per share. Equities analysts expect that CSX Co. will post 4.15 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $0.96 annualized dividend and a dividend yield of 1.48%. CSX’s dividend payout ratio is presently 25.00%.
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.
Featured Article: How is a buy-side analyst different from a sell-side analyst?
Receive News & Ratings for CSX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CSX and related companies with MarketBeat.com's FREE daily email newsletter.