Hudson Valley Investment Advisors Inc. ADV lifted its holdings in CSX Co. (NASDAQ:CSX) by 2.5% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 50,997 shares of the transportation company’s stock after acquiring an additional 1,234 shares during the quarter. Hudson Valley Investment Advisors Inc. ADV’s holdings in CSX were worth $3,946,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of CSX. Liberty Wealth Management LLC bought a new stake in shares of CSX in the fourth quarter valued at about $28,000. IMA Wealth Inc. acquired a new position in CSX in the first quarter valued at approximately $35,000. Destination Wealth Management acquired a new position in CSX in the first quarter valued at approximately $36,000. Field & Main Bank acquired a new position in CSX in the first quarter valued at approximately $41,000. Finally, Acima Private Wealth LLC acquired a new position in CSX in the first quarter valued at approximately $45,000. Institutional investors own 76.74% of the company’s stock.
In related news, EVP Nathan D. Goldman sold 7,000 shares of CSX stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $79.50, for a total value of $556,500.00. Following the sale, the executive vice president now directly owns 79,697 shares in the company, valued at $6,335,911.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 4.83% of the stock is owned by insiders.
Several research analysts have recently weighed in on the company. Loop Capital downgraded CSX from a “buy” rating to a “hold” rating and reduced their target price for the stock from $85.00 to $81.00 in a research note on Wednesday, July 10th. Cowen reissued a “market perform” rating and issued a $78.00 price objective (down from $80.00) on shares of CSX in a research note on Wednesday, July 17th. Cascend Securities downgraded CSX from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Raymond James reduced their price objective on CSX from $84.00 to $81.00 and set an “outperform” rating for the company in a research note on Wednesday, July 17th. Finally, Stephens cut CSX from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $86.00 to $79.00 in a report on Wednesday, July 17th. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $78.13.
Shares of CSX stock opened at $64.41 on Friday. The business’s 50 day moving average is $72.12 and its two-hundred day moving average is $74.31. CSX Co. has a twelve month low of $58.47 and a twelve month high of $80.73. The company has a market capitalization of $52.96 billion, a P/E ratio of 16.77, a price-to-earnings-growth ratio of 1.15 and a beta of 1.21. The company has a current ratio of 1.55, a quick ratio of 1.44 and a debt-to-equity ratio of 1.26.
CSX (NASDAQ:CSX) last posted its quarterly earnings results on Tuesday, July 16th. The transportation company reported $1.08 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.11 by ($0.03). CSX had a net margin of 27.87% and a return on equity of 26.96%. The business had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.14 billion. During the same quarter last year, the firm earned $1.01 earnings per share. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. As a group, equities analysts predict that CSX Co. will post 4.15 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be paid 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 dividend yield of 1.49%. CSX’s dividend payout ratio (DPR) is presently 25.00%.
CSX Company 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.
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