Wagner Bowman Management Corp trimmed its position in CSX Co. (NASDAQ:CSX) by 7.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,356 shares of the transportation company’s stock after selling 1,701 shares during the quarter. Wagner Bowman Management Corp’s holdings in CSX were worth $1,729,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its position in CSX by 0.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,311,053 shares of the transportation company’s stock worth $267,854,000 after buying an additional 30,225 shares during the period. Geode Capital Management LLC raised its holdings in shares of CSX by 6.6% in the 4th quarter. Geode Capital Management LLC now owns 10,386,802 shares of the transportation company’s stock worth $644,194,000 after purchasing an additional 646,745 shares during the period. Prime Capital Investment Advisors LLC purchased a new position in shares of CSX in the 1st quarter worth about $90,000. Spirit of America Management Corp NY raised its holdings in shares of CSX by 2.2% in the 1st quarter. Spirit of America Management Corp NY now owns 23,025 shares of the transportation company’s stock worth $1,723,000 after purchasing an additional 500 shares during the period. Finally, Appleton Partners Inc. MA raised its holdings in shares of CSX by 19.0% in the 1st quarter. Appleton Partners Inc. MA now owns 43,144 shares of the transportation company’s stock worth $3,228,000 after purchasing an additional 6,886 shares during the period. 76.74% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ CSX traded up $0.84 during mid-day trading on Friday, reaching $65.25. 190,802 shares of the company’s stock traded hands, compared to its average volume of 7,807,344. CSX Co. has a 1-year low of $58.47 and a 1-year high of $80.73. The company has a fifty day simple moving average of $72.12 and a 200-day simple moving average of $74.31. The company has a current ratio of 1.55, a quick ratio of 1.44 and a debt-to-equity ratio of 1.26. The company has a market cap of $52.96 billion, a price-to-earnings ratio of 17.00, a P/E/G ratio of 1.15 and a beta of 1.21.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders 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 dividend on an annualized basis and a yield of 1.47%. CSX’s dividend payout ratio (DPR) is presently 25.00%.
In other CSX news, EVP Nathan D. Goldman sold 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $79.50, for a total transaction of $556,500.00. Following the completion of the sale, the executive vice president now owns 79,697 shares in the company, valued at approximately $6,335,911.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 4.83% of the stock is owned by company insiders.
A number of equities analysts have recently commented on the company. Raymond James cut their price objective on CSX from $84.00 to $81.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. Cowen restated a “market perform” rating and issued a $78.00 price objective (down from $80.00) on shares of CSX in a report on Wednesday, July 17th. Loop Capital downgraded CSX from a “buy” rating to a “hold” rating and cut their price objective for the stock from $85.00 to $81.00 in a report on Wednesday, July 10th. BidaskClub downgraded CSX from a “sell” rating to a “strong sell” rating in a report on Saturday, July 27th. Finally, Cascend Securities downgraded CSX from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have assigned a buy rating to the stock. CSX currently has a consensus rating of “Hold” and a consensus target price of $78.13.
CSX Company Profile
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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