Cresset Asset Management LLC Decreases Stock Position in CSX Corporation $CSX

Cresset Asset Management LLC cut its position in CSX Corporation (NASDAQ:CSX) by 4.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 54,969 shares of the transportation company’s stock after selling 2,435 shares during the quarter. Cresset Asset Management LLC’s holdings in CSX were worth $1,618,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Associated Banc Corp boosted its stake in shares of CSX by 0.9% in the first quarter. Associated Banc Corp now owns 40,384 shares of the transportation company’s stock valued at $1,189,000 after purchasing an additional 356 shares during the period. Portside Wealth Group LLC boosted its stake in shares of CSX by 1.3% in the first quarter. Portside Wealth Group LLC now owns 27,335 shares of the transportation company’s stock valued at $804,000 after purchasing an additional 361 shares during the period. Ullmann Wealth Partners Group LLC boosted its stake in shares of CSX by 1.3% in the first quarter. Ullmann Wealth Partners Group LLC now owns 29,276 shares of the transportation company’s stock valued at $862,000 after purchasing an additional 363 shares during the period. LRI Investments LLC boosted its stake in CSX by 4.8% during the 1st quarter. LRI Investments LLC now owns 8,254 shares of the transportation company’s stock valued at $243,000 after acquiring an additional 375 shares during the last quarter. Finally, Patrick M Sweeney & Associates Inc. boosted its stake in CSX by 1.2% during the 1st quarter. Patrick M Sweeney & Associates Inc. now owns 32,205 shares of the transportation company’s stock valued at $948,000 after acquiring an additional 378 shares during the last quarter. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

CSX Stock Down 1.5%

Shares of NASDAQ:CSX opened at $35.99 on Thursday. The stock has a market capitalization of $67.10 billion, a price-to-earnings ratio of 22.22, a price-to-earnings-growth ratio of 2.73 and a beta of 1.25. CSX Corporation has a 1-year low of $26.22 and a 1-year high of $37.25. The company’s fifty day moving average is $34.21 and its two-hundred day moving average is $31.64. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.63 and a current ratio of 0.77.

CSX (NASDAQ:CSX) last released its quarterly earnings data on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.02. CSX had a net margin of 21.92% and a return on equity of 25.48%. The business had revenue of $3.57 billion for the quarter, compared to analysts’ expectations of $3.57 billion. During the same quarter last year, the company earned $0.49 EPS. The company’s revenue for the quarter was down 3.5% compared to the same quarter last year. Equities analysts anticipate that CSX Corporation will post 1.83 EPS for the current year.

CSX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, August 29th. CSX’s dividend payout ratio (DPR) is 32.10%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of CSX from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a research note on Thursday, July 24th. JPMorgan Chase & Co. increased their price objective on shares of CSX from $34.00 to $41.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. Bank of America upgraded shares of CSX from a “neutral” rating to a “buy” rating and increased their price objective for the company from $34.00 to $42.00 in a research note on Thursday, July 17th. Royal Bank Of Canada reiterated a “sector perform” rating on shares of CSX in a research note on Thursday, July 24th. Finally, Raymond James Financial increased their price objective on shares of CSX from $33.00 to $37.00 and gave the company an “outperform” rating in a research note on Tuesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, CSX currently has an average rating of “Moderate Buy” and a consensus target price of $37.00.

CSX 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.