Envestnet Portfolio Solutions Inc. Sells 3,159 Shares of CSX Co. (NASDAQ:CSX)

Envestnet Portfolio Solutions Inc. lessened its holdings in shares of CSX Co. (NASDAQ:CSX) by 2.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 114,743 shares of the transportation company’s stock after selling 3,159 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in CSX were worth $3,838,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Price T Rowe Associates Inc. MD lifted its holdings in CSX by 0.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 65,251,716 shares of the transportation company’s stock valued at $2,418,883,000 after buying an additional 443,755 shares in the last quarter. Capital International Investors boosted its stake in shares of CSX by 14.3% in the fourth quarter. Capital International Investors now owns 40,353,078 shares of the transportation company’s stock worth $1,399,104,000 after acquiring an additional 5,041,679 shares during the last quarter. Fisher Asset Management LLC raised its position in CSX by 2.1% in the fourth quarter. Fisher Asset Management LLC now owns 22,378,276 shares of the transportation company’s stock valued at $775,855,000 after purchasing an additional 470,640 shares during the period. Norges Bank purchased a new stake in CSX in the fourth quarter valued at approximately $757,276,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of CSX by 1.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 11,217,832 shares of the transportation company’s stock worth $388,922,000 after acquiring an additional 135,169 shares during the period. Institutional investors own 73.57% of the company’s stock.

CSX Price Performance

CSX stock traded up $0.33 during midday trading on Thursday, reaching $33.69. The stock had a trading volume of 5,339,267 shares, compared to its average volume of 11,780,430. The company’s fifty day simple moving average is $33.60 and its 200 day simple moving average is $34.98. The company has a market cap of $65.86 billion, a price-to-earnings ratio of 18.33, a price-to-earnings-growth ratio of 1.89 and a beta of 1.20. The company has a current ratio of 1.15, a quick ratio of 1.00 and a debt-to-equity ratio of 1.42. CSX Co. has a 52-week low of $29.03 and a 52-week high of $40.12.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Monday, August 5th. The transportation company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.01. The business had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.70 billion. CSX had a return on equity of 29.58% and a net margin of 24.75%. The company’s revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.49 earnings per share. As a group, sell-side analysts predict that CSX Co. will post 1.94 earnings per share for the current fiscal year.

CSX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend is Friday, August 30th. CSX’s dividend payout ratio is presently 26.37%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CSX shares. JPMorgan Chase & Co. boosted their price target on CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 6th. Bank of America lowered CSX from a “buy” rating to a “neutral” rating and set a $37.00 price objective for the company. in a report on Monday, July 8th. Sanford C. Bernstein raised their target price on CSX from $35.00 to $36.00 and gave the company a “market perform” rating in a report on Monday, July 8th. Stephens reaffirmed an “overweight” rating and set a $42.00 price objective on shares of CSX in a research report on Tuesday, August 6th. Finally, BMO Capital Markets restated an “outperform” rating and issued a $40.00 price objective on shares of CSX in a research report on Tuesday, August 6th. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.80.

CSX 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.