Ritholtz Wealth Management Cuts Stake in CSX Co. (NASDAQ:CSX)

Ritholtz Wealth Management cut its position in CSX Co. (NASDAQ:CSX) by 0.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 91,272 shares of the transportation company’s stock after selling 521 shares during the period. Ritholtz Wealth Management’s holdings in CSX were worth $3,053,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its holdings in shares of CSX by 0.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 65,251,716 shares of the transportation company’s stock valued at $2,418,883,000 after purchasing an additional 443,755 shares during the last quarter. Capital International Investors boosted its position in CSX by 14.3% in the fourth quarter. Capital International Investors now owns 40,353,078 shares of the transportation company’s stock worth $1,399,104,000 after purchasing an additional 5,041,679 shares during the last quarter. Fisher Asset Management LLC increased its position in shares of CSX by 2.0% during the 4th quarter. Fisher Asset Management LLC now owns 22,340,864 shares of the transportation company’s stock valued at $774,558,000 after purchasing an additional 433,228 shares during the last quarter. Norges Bank bought a new stake in CSX during the fourth quarter valued at approximately $757,276,000. Finally, Bank of New York Mellon Corp increased its holdings in CSX by 6.6% during the second quarter. Bank of New York Mellon Corp now owns 17,133,857 shares of the transportation company’s stock valued at $573,128,000 after buying an additional 1,060,204 shares during the last quarter. Institutional investors own 73.57% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the company. Royal Bank of Canada restated a “sector perform” rating and issued a $36.00 price target on shares of CSX in a research report on Tuesday, August 6th. Wells Fargo & Company initiated coverage on CSX in a research note on Friday, June 7th. They issued an “equal weight” rating and a $35.00 price target for the company. Evercore ISI upgraded CSX to a “strong-buy” rating in a research report on Tuesday, August 6th. Susquehanna raised their price objective on CSX from $40.00 to $41.00 and gave the company a “positive” rating in a research note on Wednesday, August 7th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $40.00 target price on shares of CSX in a research report on Tuesday, August 6th. Seven analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, CSX presently has a consensus rating of “Moderate Buy” and an average target price of $38.80.

CSX Stock Up 1.0 %

CSX stock opened at $34.27 on Monday. The business’s 50-day moving average price is $33.80 and its 200 day moving average price is $34.73. The company has a quick ratio of 1.01, a current ratio of 1.16 and a debt-to-equity ratio of 1.42. The firm has a market cap of $67.00 billion, a price-to-earnings ratio of 18.83, a price-to-earnings-growth ratio of 1.82 and a beta of 1.20. CSX Co. has a 52 week low of $29.03 and a 52 week high of $40.12.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Monday, August 5th. The transportation company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.48 by $0.01. The company had revenue of $3.70 billion during the quarter, compared to analyst estimates of $3.70 billion. CSX had a net margin of 24.52% and a return on equity of 29.11%. The firm’s revenue was up .0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.49 EPS. As a group, sell-side analysts anticipate that CSX Co. will post 1.94 earnings per share for the current year.

CSX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be issued a $0.12 dividend. The ex-dividend date is Friday, August 30th. This represents a $0.48 dividend on an annualized basis and a yield of 1.40%. CSX’s payout ratio is currently 26.37%.

CSX Profile

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.