Zurcher Kantonalbank Zurich Cantonalbank trimmed its holdings in shares of CSX Co. (NASDAQ:CSX) by 5.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 214,968 shares of the transportation company’s stock after selling 11,464 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in CSX were worth $16,632,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. CFO4Life Group LLC raised its stake in CSX by 11.6% in the 2nd quarter. CFO4Life Group LLC now owns 46,961 shares of the transportation company’s stock valued at $3,633,000 after acquiring an additional 4,890 shares during the period. Janney Montgomery Scott LLC raised its stake in CSX by 11.1% in the 2nd quarter. Janney Montgomery Scott LLC now owns 151,319 shares of the transportation company’s stock valued at $11,708,000 after acquiring an additional 15,074 shares during the period. BLB&B Advisors LLC raised its stake in CSX by 5.5% in the 2nd quarter. BLB&B Advisors LLC now owns 77,981 shares of the transportation company’s stock valued at $6,033,000 after acquiring an additional 4,033 shares during the period. Moloney Securities Asset Management LLC raised its stake in CSX by 3.8% in the 2nd quarter. Moloney Securities Asset Management LLC now owns 6,667 shares of the transportation company’s stock valued at $516,000 after acquiring an additional 241 shares during the period. Finally, Connecticut Wealth Management LLC raised its stake in CSX by 5.8% in the 2nd quarter. Connecticut Wealth Management LLC now owns 7,231 shares of the transportation company’s stock valued at $559,000 after acquiring an additional 397 shares during the period. Institutional investors own 76.75% of the company’s stock.
A number of research firms have weighed in on CSX. Stifel Nicolaus set a $80.00 target price on CSX and gave the company a “hold” rating in a report on Wednesday, April 17th. Deutsche Bank reduced their target price on CSX from $89.00 to $87.00 and set a “buy” rating for the company in a report on Wednesday, June 12th. Goldman Sachs Group began coverage on CSX in a report on Wednesday, July 10th. They set a “neutral” rating and a $86.00 target price for the company. Cowen reaffirmed a “market perform” rating and set a $78.00 target price (down previously from $80.00) on shares of CSX in a report on Wednesday, July 17th. Finally, Raymond James reduced their target price on CSX from $84.00 to $81.00 and set an “outperform” rating for the company in a report on Wednesday, July 17th. Three equities 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’s stock. CSX currently has a consensus rating of “Hold” and an average target price of $78.13.
Shares of NASDAQ CSX traded down $0.17 during midday trading on Friday, hitting $66.57. 3,440,841 shares of the company’s stock were exchanged, compared to its average volume of 7,859,066. CSX Co. has a 12-month low of $58.47 and a 12-month high of $80.73. The company has a current ratio of 1.55, a quick ratio of 1.44 and a debt-to-equity ratio of 1.26. The stock has a market capitalization of $52.59 billion, a P/E ratio of 17.34, a price-to-earnings-growth ratio of 1.14 and a beta of 1.21. The firm has a fifty day moving average price of $73.56.
CSX (NASDAQ:CSX) last issued its quarterly earnings data on Tuesday, July 16th. The transportation company reported $1.08 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.11 by ($0.03). CSX had a return on equity of 26.96% and a net margin of 27.87%. The business had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.14 billion. During the same period in the previous year, the firm posted $1.01 EPS. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. On average, equities research analysts forecast that CSX Co. will post 4.15 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be given a $0.24 dividend. The ex-dividend date is Thursday, August 29th. This represents a $0.96 dividend on an annualized basis and a yield of 1.44%. CSX’s payout ratio is 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.
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