Reynders McVeigh Capital Management LLC reduced its stake in CSX Co. (NASDAQ:CSX) by 10.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,510 shares of the transportation company’s stock after selling 2,000 shares during the period. Reynders McVeigh Capital Management LLC’s holdings in CSX were worth $1,277,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in the business. Meristem Family Wealth LLC purchased a new position in shares of CSX during the second quarter worth approximately $566,000. Lincoln National Corp grew its position in shares of CSX by 65.9% during the second quarter. Lincoln National Corp now owns 5,902 shares of the transportation company’s stock worth $457,000 after acquiring an additional 2,345 shares during the last quarter. Mawer Investment Management Ltd. grew its position in shares of CSX by 5.7% during the second quarter. Mawer Investment Management Ltd. now owns 2,528,205 shares of the transportation company’s stock worth $195,607,000 after acquiring an additional 135,625 shares during the last quarter. Mid Atlantic Financial Management Inc. ADV grew its position in shares of CSX by 117.4% during the second quarter. Mid Atlantic Financial Management Inc. ADV now owns 9,850 shares of the transportation company’s stock worth $762,000 after acquiring an additional 5,319 shares during the last quarter. Finally, Beaumont Financial Partners LLC purchased a new position in shares of CSX during the second quarter worth approximately $222,000. Institutional investors own 75.63% of the company’s stock.
A number of brokerages have recently issued reports on CSX. Credit Suisse Group lowered their target price on shares of CSX from $92.00 to $86.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 17th. Raymond James lowered their target price on shares of CSX from $84.00 to $81.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 17th. Loop Capital downgraded CSX from a “buy” rating to a “hold” rating and decreased their price target for the stock from $85.00 to $81.00 in a report on Wednesday, July 10th. Royal Bank of Canada decreased their price target on CSX to $75.00 and set a “sector perform” rating for the company in a report on Wednesday, July 17th. Finally, Cowen reaffirmed a “market perform” rating and set a $78.00 price target (down from $80.00) on shares of CSX in a report on Wednesday, July 17th. 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 currently has a consensus rating of “Hold” and a consensus price target of $78.13.
In other news, EVP Nathan D. Goldman sold 7,000 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $79.50, for a total value of $556,500.00. Following the completion of the transaction, the executive vice president now owns 79,697 shares in the company, valued at $6,335,911.50. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 4.83% of the company’s stock.
Shares of CSX stock traded down $1.52 during mid-day trading on Friday, reaching $64.62. The stock had a trading volume of 4,482,875 shares, compared to its average volume of 5,067,683. CSX Co. has a 12-month low of $58.47 and a 12-month high of $80.73. The company has a market cap of $52.15 billion, a P/E ratio of 16.83, a price-to-earnings-growth ratio of 1.14 and a beta of 1.21. The business has a 50-day simple moving average of $70.11 and a 200 day simple moving average of $74.11. The company has a current ratio of 1.55, a quick ratio of 1.44 and a debt-to-equity ratio of 1.26.
CSX (NASDAQ:CSX) last announced its quarterly earnings results on Tuesday, July 16th. The transportation company reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.03). CSX had a net margin of 27.87% and a return on equity of 26.96%. The firm had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.14 billion. During the same quarter in the prior year, the business earned $1.01 EPS. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. Research analysts anticipate that CSX Co. will post 4.14 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date is Thursday, August 29th. CSX’s dividend payout ratio is currently 25.00%.
CSX Company Profile
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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