Decatur Capital Management Inc. lessened its holdings in shares of CSX Co. (NASDAQ:CSX) by 2.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 120,825 shares of the transportation company’s stock after selling 2,800 shares during the quarter. CSX accounts for 1.8% of Decatur Capital Management Inc.’s portfolio, making the stock its 19th largest position. Decatur Capital Management Inc.’s holdings in CSX were worth $9,348,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. FNY Investment Advisers LLC acquired a new stake in CSX during the 2nd quarter valued at approximately $36,000. IMA Wealth Inc. acquired a new stake in CSX during the 1st quarter valued at approximately $35,000. Destination Wealth Management acquired a new stake in CSX during the 1st quarter valued at approximately $36,000. Field & Main Bank acquired a new stake in CSX during the 1st quarter valued at approximately $41,000. Finally, Acima Private Wealth LLC acquired a new stake in CSX during the 1st quarter valued at approximately $45,000. Hedge funds and other institutional investors own 76.76% of the company’s stock.
A number of equities research analysts have weighed in on CSX shares. Credit Suisse Group lowered their price objective on CSX from $92.00 to $86.00 and set an “outperform” rating for the company in a research note on Wednesday, July 17th. Loop Capital lowered CSX from a “buy” rating to a “hold” rating and decreased their target price for the stock from $85.00 to $81.00 in a research report on Wednesday, July 10th. Goldman Sachs Group assumed coverage on CSX in a research report on Wednesday, July 10th. They issued a “neutral” rating and a $86.00 target price for the company. Zacks Investment Research lowered CSX from a “hold” rating to a “sell” rating and set a $83.00 target price for the company. in a research report on Monday, July 8th. Finally, TD Securities decreased their target price on CSX from $81.00 to $77.00 and set a “hold” rating for the company in a research report on Wednesday, July 17th. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $78.13.
Shares of NASDAQ CSX traded down $0.66 during mid-day trading on Friday, hitting $67.12. The company had a trading volume of 6,316,932 shares, compared to its average volume of 7,084,083. The firm has a market cap of $54.10 billion, a PE ratio of 17.48, a price-to-earnings-growth ratio of 1.18 and a beta of 1.21. CSX Co. has a 12 month low of $58.47 and a 12 month high of $80.73. The company has a current ratio of 1.55, a quick ratio of 1.44 and a debt-to-equity ratio of 1.26. The firm’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 (EPS) for the quarter, missing the consensus estimate of $1.11 by ($0.03). The company had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.14 billion. CSX had a return on equity of 26.96% and a net margin of 27.87%. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period last year, the business posted $1.01 EPS. Equities analysts anticipate 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 issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend is Thursday, August 29th. CSX’s dividend payout ratio (DPR) is 25.00%.
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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