Xponance Inc. Cuts Stock Position in CSX Co. (NASDAQ:CSX)

Xponance Inc. reduced its position in CSX Co. (NASDAQ:CSX) by 8.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 263,969 shares of the transportation company’s stock after selling 23,392 shares during the quarter. Xponance Inc.’s holdings in CSX were worth $8,830,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Western Wealth Management LLC boosted its position in CSX by 0.8% in the 2nd quarter. Western Wealth Management LLC now owns 36,127 shares of the transportation company’s stock valued at $1,208,000 after buying an additional 295 shares during the period. TriaGen Wealth Management LLC grew its stake in CSX by 2.7% during the 2nd quarter. TriaGen Wealth Management LLC now owns 11,524 shares of the transportation company’s stock worth $385,000 after purchasing an additional 300 shares in the last quarter. Miracle Mile Advisors LLC increased its holdings in CSX by 0.3% during the 1st quarter. Miracle Mile Advisors LLC now owns 103,563 shares of the transportation company’s stock worth $3,839,000 after purchasing an additional 303 shares during the period. Team Hewins LLC raised its position in CSX by 1.7% in the 1st quarter. Team Hewins LLC now owns 18,778 shares of the transportation company’s stock valued at $696,000 after purchasing an additional 306 shares in the last quarter. Finally, Zions Bancorporation N.A. boosted its stake in shares of CSX by 4.8% in the 2nd quarter. Zions Bancorporation N.A. now owns 6,985 shares of the transportation company’s stock valued at $234,000 after buying an additional 322 shares during the period. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

CSX Stock Down 2.6 %

CSX stock opened at $34.02 on Tuesday. The company has a market cap of $66.51 billion, a price-to-earnings ratio of 18.69, a price-to-earnings-growth ratio of 1.77 and a beta of 1.19. The company has a fifty day moving average price of $34.01 and a 200 day moving average price of $34.31. 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 announced its earnings results on Monday, August 5th. The transportation company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.01. The business had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.70 billion. CSX had a net margin of 24.52% and a return on equity of 29.11%. The business’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.49 earnings per share. Sell-side analysts expect that CSX Co. will post 1.93 earnings per share for the current year.

CSX Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date was Friday, August 30th. CSX’s payout ratio is currently 26.37%.

Analysts Set New Price Targets

Several analysts recently weighed in on CSX shares. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $36.00 target price on shares of CSX in a report on Tuesday, August 6th. Wells Fargo & Company started coverage on shares of CSX in a research report on Friday, June 7th. They set an “equal weight” rating and a $35.00 price objective for the company. Susquehanna increased their target price on CSX from $40.00 to $41.00 and gave the company a “positive” rating in a report on Wednesday, August 7th. Sanford C. Bernstein raised their price target on CSX from $35.00 to $36.00 and gave the company a “market perform” rating in a research note on Monday, July 8th. Finally, Benchmark reaffirmed a “buy” rating and set a $40.00 price objective on shares of CSX in a research report on Wednesday, August 7th. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $38.80.

CSX Company 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.