Walter & Keenan Financial Consulting Co. MI ADV decreased its stake in shares of CSX Co. (NASDAQ:CSX) by 54.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,700 shares of the transportation company’s stock after selling 4,500 shares during the quarter. Walter & Keenan Financial Consulting Co. MI ADV’s holdings in CSX were worth $236,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in the business. Neuberger Berman Group LLC raised its stake in CSX by 7.3% during the first quarter. Neuberger Berman Group LLC now owns 11,455,907 shares of the transportation company’s stock valued at $638,209,000 after buying an additional 783,705 shares during the last quarter. Egerton Capital UK LLP purchased a new position in shares of CSX in the second quarter worth $440,710,000. CI Global Investments Inc. raised its stake in shares of CSX by 254.1% in the first quarter. CI Global Investments Inc. now owns 6,305,842 shares of the transportation company’s stock worth $351,298,000 after purchasing an additional 4,524,823 shares during the last quarter. Eaton Vance Management raised its stake in shares of CSX by 3.6% in the first quarter. Eaton Vance Management now owns 5,298,524 shares of the transportation company’s stock worth $295,180,000 after purchasing an additional 185,534 shares during the last quarter. Finally, Alleghany Corp DE raised its stake in shares of CSX by 20.9% in the first quarter. Alleghany Corp DE now owns 5,180,000 shares of the transportation company’s stock worth $288,577,000 after purchasing an additional 895,000 shares during the last quarter. Institutional investors and hedge funds own 75.72% of the company’s stock.
Shares of CSX traded up $1.02 during trading hours on Tuesday, hitting $74.79. The stock had a trading volume of 127,867 shares, compared to its average volume of 5,077,073. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.66 and a quick ratio of 1.48. CSX Co. has a 12 month low of $48.11 and a 12 month high of $74.75. The firm has a market capitalization of $63.29 billion, a P/E ratio of 32.34, a PEG ratio of 1.54 and a beta of 1.22.
CSX (NASDAQ:CSX) last issued its quarterly earnings data on Tuesday, July 17th. The transportation company reported $1.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.15. CSX had a return on equity of 19.31% and a net margin of 53.27%. The company had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3 billion. During the same quarter in the previous year, the company posted $0.64 earnings per share. CSX’s revenue was up 5.8% compared to the same quarter last year. analysts expect that CSX Co. will post 3.59 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 14th. Investors of record on Friday, August 31st will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.18%. The ex-dividend date is Thursday, August 30th. CSX’s payout ratio is currently 38.26%.
Several research firms have recently weighed in on CSX. BidaskClub upgraded CSX from a “hold” rating to a “buy” rating in a research note on Wednesday, July 4th. Deutsche Bank set a $79.00 price target on CSX and gave the stock a “buy” rating in a research note on Friday, June 8th. Zacks Investment Research upgraded CSX from a “hold” rating to a “buy” rating and set a $74.00 price target for the company in a research note on Tuesday, June 19th. UBS Group set a $82.00 price target on CSX and gave the stock a “buy” rating in a research note on Wednesday, July 18th. Finally, ValuEngine cut CSX from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and seventeen have assigned a buy rating to the stock. CSX currently has an average rating of “Buy” and an average price target of $69.45.
CSX Corporation, together with its subsidiaries, provides rail-based transportation services in the United States and Canada. The company offers rail services, as well as transports intermodal containers and trailers. It transports agricultural and food products, fertilizers, chemicals, automotive, metals and equipment, minerals, and forest products; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.
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