Cetera Advisors LLC Sells 5,896 Shares of CSX Co. (NASDAQ:CSX)

Cetera Advisors LLC trimmed its holdings in shares of CSX Co. (NASDAQ:CSXGet Rating) by 10.3% in the 2nd quarter, Holdings Channel reports. The firm owned 51,293 shares of the transportation company’s stock after selling 5,896 shares during the quarter. Cetera Advisors LLC’s holdings in CSX were worth $1,491,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in CSX. IndexIQ Advisors LLC raised its position in CSX by 0.7% in the 1st quarter. IndexIQ Advisors LLC now owns 43,427 shares of the transportation company’s stock valued at $1,626,000 after purchasing an additional 320 shares in the last quarter. Childress Capital Advisors LLC raised its position in CSX by 6.5% in the 1st quarter. Childress Capital Advisors LLC now owns 5,789 shares of the transportation company’s stock valued at $217,000 after purchasing an additional 355 shares in the last quarter. Glassman Wealth Services raised its position in CSX by 18.6% in the 2nd quarter. Glassman Wealth Services now owns 2,262 shares of the transportation company’s stock valued at $66,000 after purchasing an additional 355 shares in the last quarter. Boston Trust Walden Corp raised its position in CSX by 1.4% in the 2nd quarter. Boston Trust Walden Corp now owns 26,003 shares of the transportation company’s stock valued at $756,000 after purchasing an additional 357 shares in the last quarter. Finally, Whittier Trust Co. raised its position in CSX by 0.4% in the 2nd quarter. Whittier Trust Co. now owns 101,998 shares of the transportation company’s stock valued at $2,963,000 after purchasing an additional 366 shares in the last quarter. 73.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CSX has been the topic of a number of analyst reports. Citigroup reduced their price target on CSX from $31.00 to $30.00 and set a “neutral” rating on the stock in a research report on Thursday, September 29th. Deutsche Bank Aktiengesellschaft cut their target price on CSX from $41.00 to $36.00 and set a “buy” rating on the stock in a research report on Monday, October 24th. Sanford C. Bernstein lowered CSX from an “outperform” rating to a “market perform” rating and set a $32.00 target price on the stock. in a research report on Wednesday, September 14th. Barclays cut their price target on CSX from $40.00 to $35.00 and set an “overweight” rating on the stock in a research report on Friday, September 30th. Finally, Robert W. Baird cut their price target on CSX to $34.00 in a research report on Thursday, October 13th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, CSX currently has a consensus rating of “Hold” and an average price target of $34.31.

CSX Stock Performance

Shares of CSX stock opened at $32.07 on Thursday. CSX Co. has a 1 year low of $25.80 and a 1 year high of $38.63. The stock has a market cap of $67.42 billion, a PE ratio of 17.15, a P/E/G ratio of 1.69 and a beta of 1.24. The stock has a fifty day moving average price of $28.88 and a 200 day moving average price of $30.51. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.57 and a current ratio of 1.72.

CSX (NASDAQ:CSXGet Rating) last released its quarterly earnings results on Thursday, October 20th. The transportation company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.03. CSX had a return on equity of 30.32% and a net margin of 28.06%. The company had revenue of $3.90 billion during the quarter, compared to analysts’ expectations of $3.75 billion. During the same period in the previous year, the firm posted $0.43 earnings per share. The business’s revenue for the quarter was up 18.5% compared to the same quarter last year. Sell-side analysts forecast that CSX Co. will post 1.91 earnings per share for the current fiscal year.

CSX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Wednesday, November 30th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, November 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.25%. CSX’s dividend payout ratio (DPR) is 21.39%.

CSX Profile

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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.

Further Reading

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Institutional Ownership by Quarter for CSX (NASDAQ:CSX)

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