CSX Co. (NASDAQ:CSX) Stock Position Lowered by Federated Hermes Inc.

Federated Hermes Inc. lowered its holdings in CSX Co. (NASDAQ:CSX – Get Rating) by 12.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,467 shares of the transportation company’s stock after selling 5,361 shares during the period. Federated Hermes Inc.’s holdings in CSX were worth $971,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of CSX. Webster Bank N. A. purchased a new stake in CSX in the 3rd quarter worth about $40,000. Wagner Wealth Management LLC acquired a new position in CSX in the 2nd quarter valued at approximately $41,000. Godsey & Gibb Inc. acquired a new position in CSX in the 3rd quarter valued at approximately $43,000. Orion Capital Management LLC increased its stake in CSX by 504.0% in the 3rd quarter. Orion Capital Management LLC now owns 1,830 shares of the transportation company’s stock valued at $49,000 after buying an additional 1,527 shares during the period. Finally, Ellevest Inc. increased its stake in CSX by 94.2% in the 3rd quarter. Ellevest Inc. now owns 1,884 shares of the transportation company’s stock valued at $50,000 after buying an additional 914 shares during the period. Institutional investors and hedge funds own 72.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CSX. Deutsche Bank Aktiengesellschaft upped their price objective on shares of CSX from $36.00 to $39.00 in a research note on Monday, November 28th. StockNews.com upgraded shares of CSX from a “hold” rating to a “buy” rating in a research note on Thursday, March 9th. Credit Suisse Group dropped their price objective on shares of CSX from $38.00 to $37.00 and set an “outperform” rating on the stock in a research note on Thursday, January 26th. Morgan Stanley upped their price objective on shares of CSX from $23.00 to $24.00 and gave the company an “underweight” rating in a research note on Wednesday, January 11th. Finally, Raymond James increased their price target on shares of CSX from $33.00 to $36.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 18th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, CSX presently has an average rating of “Hold” and a consensus price target of $34.58.

CSX Price Performance

Shares of CSX stock opened at $29.06 on Tuesday. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.56 and a quick ratio of 1.42. CSX Co. has a fifty-two week low of $25.80 and a fifty-two week high of $38.17. The firm has a fifty day moving average price of $31.26 and a two-hundred day moving average price of $30.56. The company has a market cap of $59.94 billion, a PE ratio of 14.98, a price-to-earnings-growth ratio of 2.29 and a beta of 1.22.

CSX (NASDAQ:CSX – Get Rating) last issued its quarterly earnings results on Wednesday, January 25th. The transportation company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.02. CSX had a net margin of 28.05% and a return on equity of 31.48%. The firm had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same period in the prior year, the firm earned $0.42 EPS. The business’s revenue was up 8.7% on a year-over-year basis. Analysts expect that CSX Co. will post 1.86 EPS for the current year.

CSX Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 15th. Shareholders of record on Tuesday, February 28th will be issued a $0.11 dividend. The ex-dividend date of this dividend is Monday, February 27th. This is an increase from CSX’s previous quarterly dividend of $0.10. This represents a $0.44 dividend on an annualized basis and a yield of 1.51%. CSX’s dividend payout ratio is 22.68%.

CSX Company Profile

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CSX Corp. engages in the provision of rail-based freight transportation services. Its services include rail service, the transport of intermodal containers and trailers, rail-to-truck transfers and bulk commodity operations. The company was founded in 1827 and is headquartered in Jacksonville, FL.