Charles Schwab Investment Management Inc. trimmed its position in shares of CSX Co. (NASDAQ:CSX) by 1.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,463,623 shares of the transportation company’s stock after selling 50,112 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.45% of CSX worth $241,554,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Watson Rebecca bought a new stake in CSX in the 2nd quarter valued at $29,000. Tarbox Family Office Inc. increased its stake in shares of CSX by 55.9% during the 2nd quarter. Tarbox Family Office Inc. now owns 491 shares of the transportation company’s stock worth $34,000 after purchasing an additional 176 shares during the last quarter. NuWave Investment Management LLC acquired a new position in shares of CSX during the 2nd quarter worth about $44,000. HHM Wealth Advisors LLC acquired a new position in shares of CSX during the 1st quarter worth about $40,000. Finally, Keebeck Wealth Management LLC acquired a new position in shares of CSX during the 2nd quarter worth about $60,000. 73.51% of the stock is currently owned by institutional investors and hedge funds.
CSX stock traded up $0.23 during trading on Wednesday, reaching $80.50. 123,327 shares of the company were exchanged, compared to its average volume of 3,264,178. The company has a 50-day moving average of $74.49 and a two-hundred day moving average of $67.87. The company has a market capitalization of $61.41 billion, a price-to-earnings ratio of 21.61, a P/E/G ratio of 2.95 and a beta of 1.17. CSX Co. has a twelve month low of $46.81 and a twelve month high of $81.10. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.62 and a quick ratio of 1.51.
CSX (NASDAQ:CSX) last released its quarterly earnings data on Wednesday, July 22nd. The transportation company reported $0.65 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.01. The business had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.31 billion. CSX had a net margin of 26.39% and a return on equity of 24.24%. During the same period in the prior year, the company earned $1.08 EPS. On average, analysts forecast that CSX Co. will post 3.52 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Monday, August 31st were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date of this dividend was Friday, August 28th. CSX’s dividend payout ratio is 24.94%.
In other CSX news, CAO Diana B. Sorfleet sold 36,836 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $75.30, for a total value of $2,773,750.80. Following the completion of the transaction, the chief accounting officer now directly owns 59,064 shares in the company, valued at approximately $4,447,519.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Nathan D. Goldman sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $75.54, for a total transaction of $1,888,500.00. Following the completion of the transaction, the executive vice president now owns 100,174 shares of the company’s stock, valued at $7,567,143.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 82,336 shares of company stock valued at $6,140,916. 0.58% of the stock is owned by corporate insiders.
Several research analysts have recently weighed in on CSX shares. Stephens upgraded shares of CSX from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $72.00 to $93.00 in a research note on Monday, August 31st. BMO Capital Markets boosted their price objective on shares of CSX from $71.00 to $75.00 and gave the stock a “market perform” rating in a research note on Wednesday, June 3rd. Wells Fargo & Company boosted their price objective on shares of CSX from $66.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Friday, May 22nd. Argus upped their price target on shares of CSX from $72.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Finally, TD Securities decreased their price target on shares of CSX from $79.00 to $78.00 and set a “hold” rating on the stock in a research note on Thursday, July 23rd. Ten investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. CSX currently has an average rating of “Buy” and a consensus target price of $74.78.
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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