CSX Co. (NASDAQ:CSX) Shares Sold by Delta Investment Management LLC

Delta Investment Management LLC lessened its stake in CSX Co. (NASDAQ:CSX) by 3.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 38,999 shares of the transportation company’s stock after selling 1,487 shares during the quarter. Delta Investment Management LLC’s holdings in CSX were worth $1,305,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. AlTi Global Inc. increased its position in CSX by 5.2% during the 2nd quarter. AlTi Global Inc. now owns 6,890 shares of the transportation company’s stock worth $230,000 after purchasing an additional 342 shares in the last quarter. ELCO Management Co. LLC increased its position in shares of CSX by 80.6% in the second quarter. ELCO Management Co. LLC now owns 24,715 shares of the transportation company’s stock worth $827,000 after acquiring an additional 11,030 shares in the last quarter. Squarepoint Ops LLC raised its stake in shares of CSX by 300.9% in the 2nd quarter. Squarepoint Ops LLC now owns 538,329 shares of the transportation company’s stock valued at $18,007,000 after acquiring an additional 404,037 shares during the period. Sfmg LLC lifted its holdings in shares of CSX by 0.3% during the 2nd quarter. Sfmg LLC now owns 176,187 shares of the transportation company’s stock valued at $5,893,000 after acquiring an additional 578 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of CSX by 58.5% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 375,235 shares of the transportation company’s stock valued at $12,552,000 after acquiring an additional 138,554 shares in the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.

CSX Trading Down 1.8 %

NASDAQ:CSX opened at $33.52 on Thursday. The business has a 50 day simple moving average of $33.98 and a 200 day simple moving average of $34.28. The firm has a market capitalization of $65.53 billion, a P/E ratio of 18.42, a P/E/G ratio of 1.91 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. CSX Co. has a 12-month low of $29.03 and a 12-month high of $40.12.

CSX (NASDAQ:CSX) last posted its 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 firm had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.70 billion. CSX had a net margin of 24.52% and a return on equity of 29.11%. CSX’s quarterly revenue was up .0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.49 EPS. Equities research analysts predict that CSX Co. will post 1.93 EPS for the current year.

CSX Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms have commented on CSX. JPMorgan Chase & Co. raised their price objective on CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a research report on Tuesday, August 6th. Barclays dropped their target price on CSX from $41.00 to $40.00 and set an “overweight” rating on the stock in a report on Wednesday. Sanford C. Bernstein increased their price objective on shares of CSX from $35.00 to $36.00 and gave the company a “market perform” rating in a research report on Monday, July 8th. Stephens reissued an “overweight” rating and set a $42.00 target price on shares of CSX in a research report on Tuesday, August 6th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $36.00 price target on shares of CSX in a report on Tuesday, August 6th. Seven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $38.93.

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.