CSX Corporation (NASDAQ:CSX) Shares Sold by Concord Wealth Partners

Concord Wealth Partners cut its stake in CSX Corporation (NASDAQ:CSX) by 24.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,541 shares of the transportation company’s stock after selling 2,454 shares during the quarter. Concord Wealth Partners’ holdings in CSX were worth $222,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in CSX. Wellington Management Group LLP lifted its holdings in shares of CSX by 14.7% during the fourth quarter. Wellington Management Group LLP now owns 117,579 shares of the transportation company’s stock worth $3,794,000 after purchasing an additional 15,029 shares during the period. CWA Asset Management Group LLC raised its holdings in CSX by 15.1% in the first quarter. CWA Asset Management Group LLC now owns 12,514 shares of the transportation company’s stock worth $368,000 after buying an additional 1,642 shares during the last quarter. Dynamic Advisor Solutions LLC boosted its position in shares of CSX by 9.8% in the first quarter. Dynamic Advisor Solutions LLC now owns 38,757 shares of the transportation company’s stock worth $1,141,000 after purchasing an additional 3,458 shares during the period. Farther Finance Advisors LLC raised its stake in CSX by 61.4% during the first quarter. Farther Finance Advisors LLC now owns 14,154 shares of the transportation company’s stock valued at $418,000 after purchasing an additional 5,382 shares in the last quarter. Finally, Cercano Management LLC purchased a new position in CSX in the 4th quarter worth about $4,869,000. 73.57% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on CSX shares. Benchmark reissued a “buy” rating and issued a $35.00 price target on shares of CSX in a report on Thursday, April 17th. BMO Capital Markets reduced their price target on CSX from $36.00 to $35.00 and set an “outperform” rating on the stock in a research report on Thursday, April 17th. Wells Fargo & Company upped their price objective on CSX from $28.00 to $35.00 and gave the company an “equal weight” rating in a report on Monday, July 7th. Sanford C. Bernstein reissued a “market perform” rating and issued a $36.00 price objective (up from $33.00) on shares of CSX in a research note on Tuesday, July 8th. Finally, Susquehanna reiterated a “neutral” rating and issued a $35.00 price objective on shares of CSX in a research report on Tuesday, June 24th. Eight equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $35.14.

CSX Stock Up 3.7%

CSX opened at $34.50 on Friday. CSX Corporation has a twelve month low of $26.22 and a twelve month high of $37.10. The firm has a market cap of $64.81 billion, a P/E ratio of 20.66, a price-to-earnings-growth ratio of 2.98 and a beta of 1.23. The business has a 50 day moving average price of $32.16 and a 200 day moving average price of $31.15. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.75 and a current ratio of 0.88.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Wednesday, April 16th. The transportation company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.05). The business had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.53 billion. CSX had a return on equity of 26.42% and a net margin of 22.66%. Research analysts forecast that CSX Corporation will post 1.83 EPS for the current year.

CSX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date is Friday, August 29th. CSX’s dividend payout ratio is 31.14%.

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.