Rampart Investment Management Company LLC lessened its stake in CSX Co. (NASDAQ:CSX) by 31.8% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 40,281 shares of the transportation company’s stock after selling 18,768 shares during the quarter. Rampart Investment Management Company LLC’s holdings in CSX were worth $2,569,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. IMS Capital Management acquired a new stake in shares of CSX during the 2nd quarter worth about $124,000. Archford Capital Strategies LLC acquired a new stake in shares of CSX during the 1st quarter worth about $109,000. Kaizen Advisory LLC raised its position in shares of CSX by 150.5% during the 2nd quarter. Kaizen Advisory LLC now owns 2,164 shares of the transportation company’s stock worth $138,000 after acquiring an additional 1,300 shares in the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. acquired a new stake in shares of CSX during the 1st quarter worth about $123,000. Finally, Sun Life Financial INC raised its position in shares of CSX by 950.0% during the 2nd quarter. Sun Life Financial INC now owns 2,373 shares of the transportation company’s stock worth $151,000 after acquiring an additional 2,147 shares in the last quarter. Institutional investors and hedge funds own 74.59% of the company’s stock.
CSX stock opened at $74.30 on Thursday. The company has a current ratio of 1.66, a quick ratio of 1.48 and a debt-to-equity ratio of 0.98. CSX Co. has a 1-year low of $48.26 and a 1-year high of $76.24. The company has a market capitalization of $63.69 billion, a P/E ratio of 32.30, a price-to-earnings-growth ratio of 1.55 and a beta of 1.24.
CSX (NASDAQ:CSX) last posted its quarterly earnings results on Tuesday, July 17th. The transportation company reported $1.01 earnings per share for the quarter, beating the Zacks’ 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 firm had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3 billion. During the same period in the previous year, the business earned $0.64 earnings per share. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. equities analysts anticipate that CSX Co. will post 3.59 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 14th. Investors of record on Friday, August 31st will be paid a $0.22 dividend. The ex-dividend date of this dividend is Thursday, August 30th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.18%. CSX’s dividend payout ratio (DPR) is presently 38.26%.
Several brokerages have recently weighed in on CSX. BMO Capital Markets lowered CSX from an “outperform” rating to a “market perform” rating and set a $65.00 target price on the stock. in a research report on Wednesday. They noted that the move was a valuation call. BidaskClub lowered CSX from a “buy” rating to a “hold” rating in a research report on Friday, August 31st. Scotiabank set a $72.00 price target on CSX and gave the stock a “hold” rating in a research report on Wednesday, July 18th. TD Securities lifted their price target on CSX from $68.00 to $71.00 and gave the stock a “$69.00” rating in a research report on Wednesday, July 18th. Finally, Raymond James lifted their price target on CSX from $70.00 to $75.00 and gave the stock a “$69.00” rating in a research report on Wednesday, July 18th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the company’s stock. CSX presently has an average rating of “Buy” and a consensus target price of $69.45.
CSX Company Profile
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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