Essex Financial Services Inc. lowered its position in CSX Corp. (NASDAQ:CSX) by 18.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,891 shares of the company’s stock after selling 1,986 shares during the period. Essex Financial Services Inc.’s holdings in CSX Corp. were worth $232,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the company. Capital Analysts LLC raised its stake in shares of CSX Corp. by 241.5% in the second quarter. Capital Analysts LLC now owns 7,567 shares of the company’s stock worth $711,000 after buying an additional 5,351 shares during the period. Schonfeld Strategic Advisors LLC acquired a new stake in shares of CSX Corp. during the first quarter worth approximately $207,000. Canandaigua National Bank & Trust Co. raised its stake in shares of CSX Corp. by 3.9% in the second quarter. Canandaigua National Bank & Trust Co. now owns 8,295 shares of the company’s stock worth $216,000 after buying an additional 315 shares during the period. Mariner Wealth Advisors LLC raised its stake in shares of CSX Corp. by 1.1% in the first quarter. Mariner Wealth Advisors LLC now owns 9,242 shares of the company’s stock worth $238,000 after buying an additional 105 shares during the period. Finally, NEXT Financial Group Inc raised its stake in shares of CSX Corp. by 3.9% in the second quarter. NEXT Financial Group Inc now owns 10,277 shares of the company’s stock worth $268,000 after buying an additional 386 shares during the period. Institutional investors and hedge funds own 68.55% of the company’s stock.
CSX Corp. (NASDAQ:CSX) traded up 3.34% on Thursday, reaching $31.22. The company’s stock had a trading volume of 11,195,153 shares. The firm has a 50-day moving average of $29.34 and a 200-day moving average of $27.40. The company has a market capitalization of $29.53 billion, a PE ratio of 17.04 and a beta of 1.23. CSX Corp. has a one year low of $21.33 and a one year high of $31.31.
CSX Corp. (NASDAQ:CSX) last posted its quarterly earnings results on Wednesday, October 12th. The company reported $0.48 EPS for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.03. The business had revenue of $2.71 billion for the quarter. CSX Corp. had a return on equity of 15.24% and a net margin of 16.07%. CSX Corp.’s revenue was down 7.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.52 earnings per share. Analysts predict that CSX Corp. will post $1.75 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Wednesday, November 30th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, November 28th. This represents a $0.72 dividend on an annualized basis and a yield of 2.38%. CSX Corp.’s dividend payout ratio is presently 39.13%.
A number of analysts recently commented on the company. Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of CSX Corp. in a report on Sunday, July 17th. Cowen and Company reiterated a “hold” rating on shares of CSX Corp. in a report on Sunday, July 17th. BMO Capital Markets reiterated an “outperform” rating and set a $32.00 price target (up from $29.00) on shares of CSX Corp. in a report on Friday, July 15th. Deutsche Bank AG reiterated a “hold” rating and set a $29.00 price target (up from $27.00) on shares of CSX Corp. in a report on Friday, July 15th. Finally, Argus restated a “buy” rating and issued a $35.00 target price on shares of CSX Corp. in a research note on Friday, July 15th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $29.54.
In other news, President Clarence W. Gooden sold 16,129 shares of the firm’s stock in a transaction dated Thursday, October 6th. The stock was sold at an average price of $31.00, for a total transaction of $499,999.00. Following the completion of the transaction, the president now owns 127,954 shares in the company, valued at $3,966,574. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Clarence W. Gooden sold 17,332 shares of the firm’s stock in a transaction dated Monday, September 26th. The shares were sold at an average price of $29.44, for a total value of $510,254.08. Following the transaction, the president now owns 127,954 shares of the company’s stock, valued at approximately $3,766,965.76. The disclosure for this sale can be found here. Company insiders own 0.36% of the company’s stock.
About CSX Corp.
CSX Corporation, together with its subsidiaries, is a transportation company. The Company provides rail-based transportation services, including rail service and the transport of intermodal containers and trailers. The Company serves three lines of business, such as merchandise business, coal business and intermodal business.
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