Beacon Pointe Advisors LLC Sells 13,360 Shares of CSX Co. (NASDAQ:CSX)

Beacon Pointe Advisors LLC lowered its holdings in CSX Co. (NASDAQ:CSXGet Rating) by 21.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 49,250 shares of the transportation company’s stock after selling 13,360 shares during the period. Beacon Pointe Advisors LLC’s holdings in CSX were worth $1,432,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of CSX. IFM Investors Pty Ltd raised its position in shares of CSX by 124.1% in the first quarter. IFM Investors Pty Ltd now owns 645,326 shares of the transportation company’s stock valued at $24,167,000 after purchasing an additional 357,299 shares during the period. Bornite Capital Management LP bought a new stake in shares of CSX in the first quarter valued at approximately $14,980,000. FDx Advisors Inc. raised its position in shares of CSX by 15.7% in the first quarter. FDx Advisors Inc. now owns 7,135 shares of the transportation company’s stock valued at $267,000 after purchasing an additional 967 shares during the period. Waldron Private Wealth LLC increased its holdings in CSX by 11.2% during the 1st quarter. Waldron Private Wealth LLC now owns 7,826 shares of the transportation company’s stock worth $293,000 after acquiring an additional 791 shares during the period. Finally, IFG Advisory LLC increased its holdings in CSX by 29.7% during the 1st quarter. IFG Advisory LLC now owns 11,438 shares of the transportation company’s stock worth $428,000 after acquiring an additional 2,620 shares during the period. Institutional investors own 73.60% of the company’s stock.

Analyst Upgrades and Downgrades

CSX has been the topic of a number of analyst reports. Raymond James upped their target price on shares of CSX from $31.00 to $33.00 and gave the stock an “outperform” rating in a report on Monday, October 24th. Susquehanna Bancshares lowered shares of CSX to a “neutral” rating and decreased their target price for the stock from $35.00 to $29.00 in a report on Wednesday, September 28th. Credit Suisse Group decreased their target price on shares of CSX from $39.00 to $36.00 in a report on Tuesday, October 11th. Morgan Stanley decreased their target price on shares of CSX from $25.00 to $23.00 and set an “underweight” rating on the stock in a report on Monday, October 3rd. Finally, The Goldman Sachs Group decreased their price target on shares of CSX from $37.00 to $33.00 and set a “buy” rating on the stock in a report on Monday, October 10th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $34.31.

CSX Stock Up 0.5 %

Shares of CSX stock opened at $32.07 on Thursday. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.72 and a quick ratio of 1.57. The company has a 50-day moving average of $28.88 and a 200 day moving average of $30.51. The firm has a market cap of $67.42 billion, a price-to-earnings ratio of 17.15, a PEG ratio of 1.72 and a beta of 1.24. CSX Co. has a 1 year low of $25.80 and a 1 year high of $38.63.

CSX (NASDAQ:CSXGet Rating) last issued its quarterly earnings results on Thursday, October 20th. The transportation company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.03. The company had revenue of $3.90 billion during the quarter, compared to analyst estimates of $3.75 billion. CSX had a net margin of 28.06% and a return on equity of 30.32%. CSX’s quarterly revenue was up 18.5% compared to the same quarter last year. During the same period last year, the business earned $0.43 EPS. As a group, sell-side analysts anticipate that CSX Co. will post 1.91 earnings per share for the current fiscal year.

CSX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Wednesday, November 30th will be paid a dividend of $0.10 per share. The ex-dividend date is Tuesday, November 29th. This represents a $0.40 dividend on an annualized basis and a yield of 1.25%. CSX’s dividend payout ratio is currently 21.39%.

CSX Company Profile

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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 transports chemicals, agricultural and food products, automotive, minerals, 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.

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Institutional Ownership by Quarter for CSX (NASDAQ:CSX)

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