Sigma Planning Corp grew its holdings in CSX Co. (NASDAQ:CSX) by 14.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,742 shares of the transportation company’s stock after buying an additional 2,097 shares during the period. Sigma Planning Corp’s holdings in CSX were worth $1,295,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in CSX. IMA Wealth Inc. acquired a new stake in shares of CSX in the first quarter valued at approximately $35,000. Kavar Capital Partners LLC acquired a new stake in shares of CSX in the second quarter valued at approximately $35,000. Destination Wealth Management acquired a new stake in shares of CSX in the first quarter valued at approximately $36,000. FNY Investment Advisers LLC acquired a new stake in shares of CSX in the second quarter valued at approximately $36,000. Finally, Field & Main Bank acquired a new stake in shares of CSX in the first quarter valued at approximately $41,000. 76.74% of the stock is owned by institutional investors.
In other CSX news, EVP Nathan D. Goldman sold 7,000 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $79.50, for a total transaction of $556,500.00. Following the transaction, the executive vice president now owns 79,697 shares in the company, valued at approximately $6,335,911.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 4.83% of the stock is owned by company insiders.
CSX (NASDAQ:CSX) last released its quarterly earnings results on Tuesday, July 16th. The transportation company reported $1.08 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.11 by ($0.03). The firm had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.14 billion. CSX had a return on equity of 26.96% and a net margin of 27.87%. The business’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.01 earnings per share. On average, analysts predict that CSX Co. will post 4.14 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $0.96 dividend on an annualized basis and a yield of 1.47%. CSX’s dividend payout ratio (DPR) is presently 25.00%.
CSX has been the subject of a number of recent analyst reports. Cascend Securities cut CSX from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. TD Securities cut their price objective on CSX from $81.00 to $77.00 and set a “hold” rating for the company in a research report on Wednesday, July 17th. Deutsche Bank cut their price objective on CSX from $89.00 to $87.00 and set a “buy” rating for the company in a research report on Wednesday, June 12th. Zacks Investment Research cut CSX from a “hold” rating to a “sell” rating and set a $83.00 price target for the company. in a report on Monday, July 8th. Finally, Loop Capital cut CSX from a “buy” rating to a “hold” rating and dropped their price target for the stock from $85.00 to $81.00 in a report on Wednesday, July 10th. Three analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have assigned a buy rating to the company’s stock. CSX presently has a consensus rating of “Hold” and an average target price of $78.13.
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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