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Choreo LLC trimmed its holdings in shares of CSX Corporation (NASDAQ:CSX – Free Report) by 9.6% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 57,070 shares of the transportation company’s stock after selling 6,043 shares during the period. Choreo LLC’s holdings in CSX were worth $1,680,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in the business. Brighton Jones LLC raised its holdings in CSX by 5.5% in the 4th quarter. Brighton Jones LLC now owns 16,254 shares of the transportation company’s stock worth $525,000 after acquiring an additional 849 shares during the last quarter. LPL Financial LLC raised its holdings in CSX by 7.8% in the 4th quarter. LPL Financial LLC now owns 1,712,112 shares of the transportation company’s stock worth $55,250,000 after acquiring an additional 124,615 shares during the last quarter. Congress Wealth Management LLC DE purchased a new position in CSX in the 4th quarter worth approximately $1,087,000. Modern Wealth Management LLC raised its stake in CSX by 67.1% during the 4th quarter. Modern Wealth Management LLC now owns 16,180 shares of the transportation company’s stock valued at $535,000 after buying an additional 6,495 shares during the last quarter. Finally, Zions Bancorporation N.A. raised its stake in CSX by 7.8% during the 4th quarter. Zions Bancorporation N.A. now owns 7,326 shares of the transportation company’s stock valued at $236,000 after buying an additional 533 shares during the last quarter. 73.57% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on CSX shares. Benchmark boosted their target price on shares of CSX from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday. Barclays boosted their target price on shares of CSX from $36.00 to $38.00 and gave the company an “overweight” rating in a research note on Thursday. Sanford C. Bernstein reiterated a “market perform” rating and set a $36.00 target price (up from $33.00) on shares of CSX in a research note on Tuesday, July 8th. The Goldman Sachs Group reiterated a “neutral” rating and set a $35.00 target price on shares of CSX in a research note on Monday, June 2nd. Finally, JPMorgan Chase & Co. boosted their target price on shares of CSX from $34.00 to $41.00 and gave the company an “overweight” rating in a research note on Thursday. Six analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $36.73.
Get Our Latest Stock Analysis on CSX
CSX Trading Up 0.1%
Shares of CSX stock opened at $35.00 on Friday. The company has a market capitalization of $65.75 billion, a P/E ratio of 21.60, a P/E/G ratio of 3.13 and a beta of 1.23. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.75 and a current ratio of 0.88. The company has a fifty day moving average of $32.60 and a 200 day moving average of $31.24. CSX Corporation has a fifty-two week low of $26.22 and a fifty-two week high of $37.10.
CSX (NASDAQ:CSX – Get Free Report) last issued its earnings results on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.02. The company had revenue of $3.57 billion during the quarter, compared to the consensus estimate of $3.57 billion. CSX had a net margin of 21.92% and a return on equity of 25.39%. CSX’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.49 EPS. On average, sell-side analysts anticipate that CSX Corporation will post 1.83 earnings per share for the current fiscal year.
CSX Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.49%. The ex-dividend date is Friday, August 29th. CSX’s dividend payout ratio (DPR) is presently 32.10%.
CSX Company Profile
CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services; and transportation of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations. It also transports chemicals, agricultural and food products, minerals, automotive, forest products, fertilizers, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants, as well as exports coal to deep-water port facilities.
Further Reading
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