CSX Co. (NASDAQ:CSX) Shares Sold by United Capital Financial Advisers LLC

United Capital Financial Advisers LLC reduced its holdings in CSX Co. (NASDAQ:CSXGet Rating) by 2.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 171,928 shares of the transportation company’s stock after selling 4,798 shares during the quarter. United Capital Financial Advisers LLC’s holdings in CSX were worth $4,996,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in CSX by 0.9% during the first quarter. Vanguard Group Inc. now owns 185,175,290 shares of the transportation company’s stock worth $6,934,814,000 after purchasing an additional 1,585,487 shares during the last quarter. State Street Corp raised its holdings in CSX by 6.0% during the first quarter. State Street Corp now owns 100,226,817 shares of the transportation company’s stock worth $3,753,494,000 after purchasing an additional 5,632,575 shares during the last quarter. Royal Bank of Canada raised its holdings in CSX by 294.9% during the first quarter. Royal Bank of Canada now owns 26,250,574 shares of the transportation company’s stock worth $983,085,000 after purchasing an additional 19,602,668 shares during the last quarter. Lazard Asset Management LLC raised its holdings in CSX by 53.5% during the second quarter. Lazard Asset Management LLC now owns 25,162,054 shares of the transportation company’s stock worth $731,208,000 after purchasing an additional 8,771,922 shares during the last quarter. Finally, Fisher Asset Management LLC raised its holdings in CSX by 5.3% during the first quarter. Fisher Asset Management LLC now owns 18,861,772 shares of the transportation company’s stock worth $706,373,000 after purchasing an additional 940,869 shares during the last quarter. 73.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Citigroup reduced their price objective on CSX from $31.00 to $30.00 and set a “neutral” rating for the company in a report on Thursday, September 29th. StockNews.com downgraded CSX from a “buy” rating to a “hold” rating in a research report on Friday, November 18th. Barclays dropped their price target on CSX from $40.00 to $35.00 and set an “overweight” rating for the company in a research report on Friday, September 30th. Wells Fargo & Company dropped their price target on CSX from $30.00 to $28.00 and set an “equal weight” rating for the company in a research report on Monday, October 10th. Finally, UBS Group downgraded CSX from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $38.00 to $31.00 in a research report on Tuesday, September 27th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, CSX currently has a consensus rating of “Hold” and a consensus price target of $34.31.

CSX Price Performance

CSX stock opened at $32.07 on Thursday. The stock has a 50-day moving average price of $28.88 and a two-hundred day moving average price of $30.51. CSX Co. has a 12-month low of $25.80 and a 12-month high of $38.63. The company has a current ratio of 1.72, a quick ratio of 1.57 and a debt-to-equity ratio of 1.39. The company has a market cap of $67.42 billion, a PE ratio of 17.15, a price-to-earnings-growth ratio of 1.72 and a beta of 1.24.

CSX (NASDAQ:CSXGet Rating) last posted its quarterly earnings results on Thursday, October 20th. The transportation company reported $0.52 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $3.90 billion during the quarter, compared to the consensus estimate of $3.75 billion. During the same quarter in the previous year, the business earned $0.43 earnings per share. The firm’s quarterly revenue was up 18.5% compared to the same quarter last year. As a group, research analysts predict that CSX Co. will post 1.91 EPS for the current year.

CSX Dividend Announcement

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

About CSX

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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.

See Also

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Institutional Ownership by Quarter for CSX (NASDAQ:CSX)

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