Cetera Advisors LLC lessened its holdings in shares of CSX Co. (NASDAQ:CSX – Get Rating) by 10.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,293 shares of the transportation company’s stock after selling 5,896 shares during the period. Cetera Advisors LLC’s holdings in CSX were worth $1,491,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of CSX. WFA of San Diego LLC purchased a new stake in shares of CSX in the 2nd quarter worth about $25,000. Core Alternative Capital grew its position in shares of CSX by 663.9% in the 1st quarter. Core Alternative Capital now owns 825 shares of the transportation company’s stock worth $31,000 after buying an additional 717 shares during the period. Marshall & Sullivan Inc. WA purchased a new stake in shares of CSX in the 2nd quarter worth about $34,000. Rational Advisors LLC purchased a new stake in shares of CSX in the 1st quarter worth about $36,000. Finally, Wagner Wealth Management LLC purchased a new stake in shares of CSX in the 2nd quarter worth about $41,000. 73.60% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on CSX shares. Susquehanna downgraded shares of CSX from a “positive” rating to a “neutral” rating and reduced their target price for the stock from $35.00 to $29.00 in a research report on Wednesday, September 28th. Wells Fargo & Company cut their price objective on shares of CSX from $30.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Monday, October 10th. Raymond James increased their price objective on shares of CSX from $31.00 to $33.00 and gave the company an “outperform” rating in a research report on Monday, October 24th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of CSX from $41.00 to $36.00 and set a “buy” rating on the stock in a research report on Monday, October 24th. Finally, Barclays cut their price objective on shares of CSX from $40.00 to $35.00 and set an “overweight” rating on the stock in a research report on Friday, September 30th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, CSX presently has a consensus rating of “Hold” and a consensus price target of $34.31.
CSX Price Performance
CSX (NASDAQ:CSX – Get Rating) last released its earnings results on Thursday, October 20th. The transportation company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.03. The company had revenue of $3.90 billion for the quarter, compared to analysts’ expectations of $3.75 billion. CSX had a net margin of 28.06% and a return on equity of 30.32%. The firm’s revenue was up 18.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.43 EPS. As a group, research analysts anticipate that CSX Co. will post 1.91 earnings per share for the current year.
CSX Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Wednesday, November 30th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.25%. The ex-dividend date is Tuesday, November 29th. CSX’s payout ratio is currently 21.39%.
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 transports chemicals, agricultural and food products, automotive, minerals, 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.
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