Regentatlantic Capital LLC Decreases Position in CSX Co. (NASDAQ:CSX)

Regentatlantic Capital LLC lessened its holdings in CSX Co. (NASDAQ:CSX) by 4.8% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 33,634 shares of the transportation company’s stock after selling 1,679 shares during the quarter. Regentatlantic Capital LLC’s holdings in CSX were worth $2,602,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Liberty Wealth Management LLC purchased a new position in CSX in the 4th quarter valued at approximately $28,000. IMA Wealth Inc. purchased a new position in CSX in the 1st quarter valued at approximately $35,000. Destination Wealth Management purchased a new position in CSX in the 1st quarter valued at approximately $36,000. Field & Main Bank purchased a new position in CSX in the 1st quarter valued at approximately $41,000. Finally, Acima Private Wealth LLC purchased a new position in CSX in the 1st quarter valued at approximately $45,000. 76.76% of the stock is owned by institutional investors.

In related news, EVP Nathan D. Goldman sold 7,000 shares of the business’s stock in a transaction 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 sale, the executive vice president now directly owns 79,697 shares of the company’s stock, valued at $6,335,911.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 4.83% of the stock is owned by insiders.

Several equities research analysts have recently issued reports on the stock. ValuEngine cut shares of CSX from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Royal Bank of Canada decreased their price objective on shares of CSX to $75.00 and set a “sector perform” rating for the company in a research report on Wednesday, July 17th. BidaskClub cut shares of CSX from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 27th. Stephens cut shares of CSX from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $86.00 to $79.00 in a research report on Wednesday, July 17th. Finally, Loop Capital cut shares of CSX from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $85.00 to $81.00 in a research report on Wednesday, July 10th. Three equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $78.13.

CSX traded down $0.66 on Friday, reaching $67.12. The company had a trading volume of 6,316,932 shares, compared to its average volume of 6,691,474. CSX Co. has a 1 year low of $58.47 and a 1 year high of $80.73. The company has a market cap of $56.19 billion, a PE ratio of 17.48, a PEG ratio of 1.22 and a beta of 1.21. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.55 and a quick ratio of 1.44. The stock’s 50-day simple moving average is $75.10.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Tuesday, July 16th. The transportation company reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.03). CSX had a net margin of 27.87% and a return on equity of 26.96%. The company had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.14 billion. During the same period last year, the firm earned $1.01 earnings per share. CSX’s revenue was down 1.4% on a year-over-year basis. On average, equities analysts expect that CSX Co. will post 4.15 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be given a $0.24 dividend. 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 1.43%. CSX’s dividend payout ratio (DPR) is presently 25.00%.

CSX Profile

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.

Recommended Story: Bond

Want to see what other hedge funds are holding CSX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CSX Co. (NASDAQ:CSX).

Institutional Ownership by Quarter for CSX (NASDAQ:CSX)

Receive News & Ratings for CSX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CSX and related companies with MarketBeat.com's FREE daily email newsletter.