Meeder Asset Management Inc. lifted its position in shares of CSX Co. (NASDAQ:CSX) by 7.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 126,641 shares of the transportation company’s stock after buying an additional 8,242 shares during the period. Meeder Asset Management Inc.’s holdings in CSX were worth $9,798,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. CWM LLC increased its holdings in shares of CSX by 10.7% during the 1st quarter. CWM LLC now owns 1,347 shares of the transportation company’s stock worth $101,000 after buying an additional 130 shares during the last quarter. Community Bank & Trust Waco Texas increased its holdings in shares of CSX by 1.1% during the 2nd quarter. Community Bank & Trust Waco Texas now owns 12,314 shares of the transportation company’s stock worth $953,000 after buying an additional 132 shares during the last quarter. RFG Advisory LLC increased its holdings in shares of CSX by 3.6% during the 1st quarter. RFG Advisory LLC now owns 4,276 shares of the transportation company’s stock worth $319,000 after buying an additional 150 shares during the last quarter. Adirondack Trust Co. increased its holdings in shares of CSX by 2.2% during the 1st quarter. Adirondack Trust Co. now owns 6,960 shares of the transportation company’s stock worth $554,000 after buying an additional 150 shares during the last quarter. Finally, Contravisory Investment Management Inc. boosted its position in shares of CSX by 20.9% during the 2nd quarter. Contravisory Investment Management Inc. now owns 868 shares of the transportation company’s stock worth $67,000 after purchasing an additional 150 shares during the period. Institutional investors and hedge funds own 75.63% of the company’s stock.
In related news, EVP Nathan D. Goldman sold 7,000 shares of CSX stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $79.50, for a total transaction of $556,500.00. Following the sale, the executive vice president now directly owns 79,697 shares in the company, valued at approximately $6,335,911.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 4.83% of the stock is owned by company insiders.
CSX (NASDAQ:CSX) last announced its quarterly earnings results on Tuesday, July 16th. The transportation company reported $1.08 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.11 by ($0.03). CSX had a return on equity of 26.96% and a net margin of 27.87%. The company had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same quarter in the prior year, the business earned $1.01 earnings per share. CSX’s revenue was down 1.4% compared to the same quarter last year. As a group, equities research analysts expect that CSX Co. will post 4.14 EPS 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 paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $0.96 annualized dividend and a yield of 1.47%. CSX’s dividend payout ratio is currently 25.00%.
A number of equities analysts recently weighed in on the stock. BidaskClub cut shares of CSX from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 27th. Goldman Sachs Group assumed coverage on shares of CSX in a research report on Wednesday, July 10th. They set a “neutral” rating and a $86.00 price objective for the company. Deutsche Bank lowered their price objective on shares of CSX from $89.00 to $87.00 and set a “buy” rating for the company in a research report on Wednesday, June 12th. Credit Suisse Group lowered their price objective on shares of CSX from $92.00 to $86.00 and set an “outperform” rating for the company in a research report on Wednesday, July 17th. Finally, Loop Capital cut shares of CSX from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $85.00 to $81.00 in a research report on Wednesday, July 10th. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $78.13.
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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