CSX Co. (NASDAQ:CSX) Shares Sold by ICA Group Wealth Management LLC

ICA Group Wealth Management LLC lowered its stake in shares of CSX Co. (NASDAQ:CSX) by 94.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,309 shares of the transportation company’s stock after selling 23,369 shares during the quarter. ICA Group Wealth Management LLC’s holdings in CSX were worth $44,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Pinion Investment Advisors LLC acquired a new position in shares of CSX during the second quarter valued at about $238,000. Wilkins Investment Counsel Inc. increased its holdings in shares of CSX by 54.6% during the second quarter. Wilkins Investment Counsel Inc. now owns 23,500 shares of the transportation company’s stock valued at $786,000 after acquiring an additional 8,300 shares in the last quarter. Chronos Wealth Management LLC increased its holdings in shares of CSX by 52.1% during the second quarter. Chronos Wealth Management LLC now owns 15,885 shares of the transportation company’s stock valued at $531,000 after acquiring an additional 5,440 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of CSX by 2.3% during the second quarter. Envestnet Asset Management Inc. now owns 2,603,301 shares of the transportation company’s stock valued at $87,080,000 after acquiring an additional 59,033 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. increased its holdings in CSX by 87.1% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 229,805 shares of the transportation company’s stock worth $7,687,000 after buying an additional 106,953 shares during the period. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Trading Up 0.2 %

Shares of NASDAQ:CSX opened at $33.52 on Monday. CSX Co. has a 1 year low of $29.03 and a 1 year high of $40.12. The firm has a market capitalization of $65.53 billion, a price-to-earnings ratio of 18.42, a price-to-earnings-growth ratio of 1.77 and a beta of 1.19. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.16 and a quick ratio of 1.01. The business’s 50 day moving average price is $33.91 and its 200-day moving average price is $34.48.

CSX (NASDAQ:CSX) last announced its earnings results on Monday, August 5th. The transportation company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. CSX had a return on equity of 29.11% and a net margin of 24.52%. The firm had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.70 billion. During the same quarter last year, the firm posted $0.49 EPS. The business’s revenue was up .0% on a year-over-year basis. On average, equities research analysts forecast that CSX Co. will post 1.93 earnings per share for the current fiscal year.

CSX Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a $0.12 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.48 dividend on an annualized basis and a yield of 1.43%. CSX’s payout ratio is currently 26.37%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on CSX shares. Wells Fargo & Company started coverage on shares of CSX in a report on Friday, June 7th. They issued an “equal weight” rating and a $35.00 price target on the stock. Evercore ISI upgraded shares of CSX to a “strong-buy” rating in a report on Tuesday, August 6th. Benchmark reiterated a “buy” rating and issued a $40.00 price target on shares of CSX in a report on Wednesday, August 7th. Sanford C. Bernstein increased their price target on shares of CSX from $35.00 to $36.00 and gave the stock a “market perform” rating in a report on Monday, July 8th. Finally, Bank of America downgraded shares of CSX from a “buy” rating to a “neutral” rating and set a $37.00 price target on the stock. in a report on Monday, July 8th. Seven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, CSX presently has an average rating of “Moderate Buy” and a consensus price target of $38.80.

About CSX

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services; and transportation of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations. It also transports chemicals, agricultural and food products, minerals, automotive, forest products, fertilizers, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants, as well as exports coal to deep-water port facilities.