United Capital Financial Advisers LLC cut its holdings in shares of CSX Co. (NASDAQ:CSX – Get Rating) by 2.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 171,928 shares of the transportation company’s stock after selling 4,798 shares during the quarter. United Capital Financial Advisers LLC’s holdings in CSX were worth $4,996,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in CSX by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 185,175,290 shares of the transportation company’s stock worth $6,934,814,000 after acquiring an additional 1,585,487 shares in the last quarter. State Street Corp lifted its stake in CSX by 6.0% during the 1st quarter. State Street Corp now owns 100,226,817 shares of the transportation company’s stock worth $3,753,494,000 after acquiring an additional 5,632,575 shares in the last quarter. Royal Bank of Canada lifted its stake in CSX by 294.9% during the 1st quarter. Royal Bank of Canada now owns 26,250,574 shares of the transportation company’s stock worth $983,085,000 after acquiring an additional 19,602,668 shares in the last quarter. Lazard Asset Management LLC lifted its stake in CSX by 53.5% during the 2nd quarter. Lazard Asset Management LLC now owns 25,162,054 shares of the transportation company’s stock worth $731,208,000 after acquiring an additional 8,771,922 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its stake in CSX by 5.3% during the 1st quarter. Fisher Asset Management LLC now owns 18,861,772 shares of the transportation company’s stock worth $706,373,000 after acquiring an additional 940,869 shares in the last quarter. 73.60% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several equities analysts recently issued reports on the company. Susquehanna lowered CSX from a “positive” rating to a “neutral” rating and decreased their target price for the stock from $35.00 to $29.00 in a research note on Wednesday, September 28th. Barclays reduced their price target on CSX from $40.00 to $35.00 and set an “overweight” rating on the stock in a research report on Friday, September 30th. Sanford C. Bernstein lowered CSX from an “outperform” rating to a “market perform” rating and set a $32.00 price target on the stock. in a research report on Wednesday, September 14th. Benchmark reduced their price target on CSX to $32.00 in a research report on Thursday, October 13th. Finally, Morgan Stanley reduced their price target on CSX from $25.00 to $23.00 and set an “underweight” rating on the stock in a research report on Monday, October 3rd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $34.31.
CSX Trading Up 0.5 %
CSX (NASDAQ:CSX – Get Rating) last released its quarterly earnings results on Thursday, October 20th. The transportation company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.03. The firm had revenue of $3.90 billion for the quarter, compared to the consensus estimate of $3.75 billion. CSX had a return on equity of 30.32% and a net margin of 28.06%. The firm’s quarterly revenue was up 18.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.43 EPS. On average, research analysts anticipate that CSX Co. will post 1.91 EPS for the current year.
CSX Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Wednesday, November 30th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend 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 presently 21.39%.
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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