Los Angeles Capital Management & Equity Research Inc. reduced its holdings in CSX Co. (NASDAQ:CSX) by 49.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 160,507 shares of the transportation company’s stock after selling 159,930 shares during the quarter. Los Angeles Capital Management & Equity Research Inc.’s holdings in CSX were worth $12,009,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of the company. Virtus ETF Advisers LLC grew its position in CSX by 117.1% during the fourth quarter. Virtus ETF Advisers LLC now owns 445 shares of the transportation company’s stock worth $28,000 after buying an additional 240 shares in the last quarter. Larson Financial Group LLC acquired a new stake in CSX during the fourth quarter worth about $28,000. Liberty Wealth Management LLC acquired a new stake in CSX during the fourth quarter worth about $28,000. Karp Capital Management Corp acquired a new stake in CSX during the fourth quarter worth about $30,000. Finally, Highwater Wealth Management LLC acquired a new stake in CSX during the fourth quarter worth about $31,000. 77.64% of the stock is currently owned by institutional investors.
Shares of NASDAQ:CSX traded down $0.90 during trading on Wednesday, reaching $77.44. The stock had a trading volume of 3,290,213 shares, compared to its average volume of 4,711,525. CSX Co. has a 52 week low of $58.47 and a 52 week high of $80.73. The company has a current ratio of 1.81, a quick ratio of 1.68 and a debt-to-equity ratio of 1.27. The stock has a market capitalization of $62.93 billion, a P/E ratio of 20.17, a price-to-earnings-growth ratio of 1.34 and a beta of 1.29.
CSX (NASDAQ:CSX) last posted its earnings results on Tuesday, April 16th. The transportation company reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.11. CSX had a net margin of 27.84% and a return on equity of 26.13%. The company had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $3 billion. During the same quarter in the previous year, the company posted $0.78 earnings per share. CSX’s quarterly revenue was up 4.8% compared to the same quarter last year. As a group, analysts forecast that CSX Co. will post 4.34 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date is Thursday, May 30th. CSX’s dividend payout ratio (DPR) is currently 25.00%.
In other news, VP Angela C. Williams sold 9,560 shares of CSX stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $79.14, for a total value of $756,578.40. Following the completion of the transaction, the vice president now owns 14,607 shares in the company, valued at $1,155,997.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.83% of the company’s stock.
A number of research firms have weighed in on CSX. BMO Capital Markets lifted their price objective on CSX from $76.00 to $78.00 and gave the company a “market perform” rating in a report on Wednesday, April 17th. They noted that the move was a valuation call. Citigroup lifted their price objective on CSX from $79.00 to $86.00 and gave the company a “buy” rating in a report on Thursday, April 4th. ValuEngine raised CSX from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. BidaskClub raised CSX from a “buy” rating to a “strong-buy” rating in a report on Monday. Finally, Stifel Nicolaus downgraded CSX from a “buy” rating to a “hold” rating and set a $74.00 price objective on the stock. in a report on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $79.58.
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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