Stephens Inc. AR lessened its holdings in CSX Co. (NASDAQ:CSX) by 1.8% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 52,936 shares of the transportation company’s stock after selling 968 shares during the quarter. Stephens Inc. AR’s holdings in CSX were worth $4,096,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. CWM LLC boosted its stake in CSX by 10.7% in the 1st quarter. CWM LLC now owns 1,347 shares of the transportation company’s stock worth $101,000 after purchasing an additional 130 shares during the period. Community Bank & Trust Waco Texas lifted its holdings in shares of CSX by 1.1% during the second quarter. Community Bank & Trust Waco Texas now owns 12,314 shares of the transportation company’s stock worth $953,000 after purchasing an additional 132 shares during the period. RFG Advisory LLC lifted its holdings in shares of CSX by 3.6% during the first quarter. RFG Advisory LLC now owns 4,276 shares of the transportation company’s stock worth $319,000 after purchasing an additional 150 shares during the period. Adirondack Trust Co. lifted its holdings in shares of CSX by 2.2% during the first quarter. Adirondack Trust Co. now owns 6,960 shares of the transportation company’s stock worth $554,000 after purchasing an additional 150 shares during the period. Finally, Contravisory Investment Management Inc. lifted its holdings in shares of CSX by 20.9% during the second quarter. Contravisory Investment Management Inc. now owns 868 shares of the transportation company’s stock worth $67,000 after purchasing an additional 150 shares during the period. 76.74% of the stock is owned by institutional investors and hedge funds.
In other CSX news, EVP Nathan D. Goldman sold 7,000 shares of CSX stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $79.50, for a total value of $556,500.00. Following the completion of the sale, the executive vice president now directly 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 available at the SEC website. Insiders own 4.83% of the company’s stock.
NASDAQ CSX traded up $0.78 during mid-day trading on Friday, reaching $65.19. 130,302 shares of the stock were exchanged, compared to its average volume of 7,807,344. CSX Co. has a one year low of $58.47 and a one year high of $80.73. The stock has a 50 day simple moving average of $72.12 and a 200-day simple moving average of $74.31. The stock has a market cap of $52.96 billion, a P/E ratio of 16.99, a P/E/G ratio of 1.15 and a beta of 1.21. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.55 and a quick ratio of 1.44.
CSX (NASDAQ:CSX) last posted its quarterly earnings results on Tuesday, July 16th. The transportation company reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.11 by ($0.03). CSX had a net margin of 27.87% and a return on equity of 26.96%. The company had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.14 billion. During the same period last year, the firm posted $1.01 earnings per share. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. Sell-side analysts anticipate that CSX Co. will post 4.15 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend is Thursday, August 29th. CSX’s dividend payout ratio (DPR) is currently 25.00%.
A number of equities analysts have recently commented on the stock. Cascend Securities lowered shares of CSX from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Goldman Sachs Group initiated coverage on shares of CSX in a report on Wednesday, July 10th. They set a “neutral” rating and a $86.00 price target on the stock. Credit Suisse Group lowered their target price on shares of CSX from $92.00 to $86.00 and set an “outperform” rating for the company in a research note on Wednesday, July 17th. TD Securities lowered their target price on shares of CSX from $81.00 to $77.00 and set a “hold” rating for the company in a research note on Wednesday, July 17th. Finally, Zacks Investment Research downgraded shares of CSX from a “hold” rating to a “sell” rating and set a $83.00 target price for the company. in a research note on Monday, July 8th. Three analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have given a buy rating to the company. CSX has an average rating of “Hold” and an average price target of $78.13.
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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