Whitener Capital Management Inc. lessened its stake in shares of CSX Co. (NASDAQ:CSX) by 7.5% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 2,450 shares of the transportation company’s stock after selling 200 shares during the quarter. Whitener Capital Management Inc.’s holdings in CSX were worth $189,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of CSX. Impala Asset Management LLC acquired a new stake in shares of CSX during the 1st quarter worth about $88,463,000. Magellan Asset Management Ltd acquired a new stake in shares of CSX during the 1st quarter worth about $73,749,000. Geode Capital Management LLC lifted its stake in shares of CSX by 6.6% during the 4th quarter. Geode Capital Management LLC now owns 10,386,802 shares of the transportation company’s stock worth $644,194,000 after buying an additional 646,745 shares during the last quarter. Lazard Asset Management LLC lifted its stake in shares of CSX by 44.1% during the 1st quarter. Lazard Asset Management LLC now owns 2,025,436 shares of the transportation company’s stock worth $151,542,000 after buying an additional 619,542 shares during the last quarter. Finally, First Trust Advisors LP lifted its stake in shares of CSX by 157.7% during the 1st quarter. First Trust Advisors LP now owns 889,852 shares of the transportation company’s stock worth $66,579,000 after buying an additional 544,542 shares during the last quarter. Institutional investors own 76.74% of the company’s stock.
A number of analysts have recently issued reports on the stock. TD Securities cut their target price on shares of CSX from $81.00 to $77.00 and set a “hold” rating for the company in a research note on Wednesday, July 17th. Goldman Sachs Group started coverage on shares of CSX in a research note on Wednesday, July 10th. They issued a “neutral” rating and a $86.00 price objective for the company. Loop Capital cut shares of CSX from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $85.00 to $81.00 in a research note on Wednesday, July 10th. Raymond James dropped their price objective on shares of CSX from $84.00 to $81.00 and set an “outperform” rating for the company in a research note on Wednesday, July 17th. Finally, Deutsche Bank dropped their price objective on shares of CSX from $89.00 to $87.00 and set a “buy” rating for the company in a research note on Wednesday, June 12th. Three research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $78.13.
CSX (NASDAQ:CSX) last issued its earnings results on Tuesday, July 16th. The transportation company reported $1.08 EPS for the quarter, missing the consensus estimate of $1.11 by ($0.03). The firm had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.14 billion. CSX had a net margin of 27.87% and a return on equity of 26.96%. CSX’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.01 earnings per share. Research analysts expect that CSX Co. will post 4.14 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend is Thursday, August 29th. CSX’s payout ratio is presently 25.00%.
In other news, EVP Nathan D. Goldman sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $79.50, for a total value of $556,500.00. Following the completion of the transaction, the executive vice president now directly owns 79,697 shares in the company, valued at approximately $6,335,911.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 4.83% of the stock is currently owned by insiders.
CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services, as well as transports intermodal containers and trailers. It transports chemicals, automotive, agricultural and food products, minerals, fertilizers, forest products, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.
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