CVA Family Office LLC lowered its stake in CSX Co. (NASDAQ:CSX – Get Rating) by 38.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,954 shares of the transportation company’s stock after selling 1,820 shares during the quarter. CVA Family Office LLC’s holdings in CSX were worth $86,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of CSX. Royal Bank of Canada boosted its stake in shares of CSX by 294.9% during the 1st quarter. Royal Bank of Canada now owns 26,250,574 shares of the transportation company’s stock worth $983,085,000 after acquiring an additional 19,602,668 shares during the period. Norges Bank bought a new stake in CSX in the 4th quarter valued at $732,770,000. Capital World Investors raised its stake in CSX by 4.4% in the 4th quarter. Capital World Investors now owns 184,488,460 shares of the transportation company’s stock valued at $6,936,719,000 after acquiring an additional 7,841,524 shares during the period. Third Point LLC bought a new stake in CSX in the 1st quarter valued at $276,620,000. Finally, State Street Corp raised its stake in CSX by 6.0% in the 1st quarter. State Street Corp now owns 100,226,817 shares of the transportation company’s stock valued at $3,753,494,000 after acquiring an additional 5,632,575 shares during the period. Institutional investors and hedge funds own 73.60% of the company’s stock.
Analyst Ratings Changes
A number of research firms recently weighed in on CSX. Stephens increased their price target on CSX from $34.00 to $35.00 and gave the company an “overweight” rating in a research note on Thursday, July 21st. Credit Suisse Group increased their price target on CSX to $37.00 in a research note on Friday, July 22nd. Evercore ISI dropped their price target on CSX from $37.00 to $35.00 in a research note on Tuesday, July 12th. Susquehanna lowered their price objective on CSX from $36.00 to $35.00 in a research report on Thursday, July 21st. Finally, Raymond James lowered their price objective on CSX from $40.00 to $35.00 and set an “outperform” rating on the stock in a research report on Friday, July 8th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $36.33.
CSX Stock Performance
CSX (NASDAQ:CSX – Get Rating) last released its quarterly earnings data on Wednesday, July 20th. The transportation company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.03. The business had revenue of $3.82 billion for the quarter, compared to analyst estimates of $3.67 billion. CSX had a return on equity of 29.07% and a net margin of 28.24%. CSX’s revenue was up 27.8% compared to the same quarter last year. During the same period last year, the firm posted $0.40 earnings per share. On average, analysts anticipate that CSX Co. will post 1.89 EPS for the current fiscal year.
CSX Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date of this dividend was Tuesday, August 30th. CSX’s payout ratio is 22.47%.
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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