CSX Corporation $CSX Shares Sold by Mount Vernon Associates Inc. MD

Mount Vernon Associates Inc. MD trimmed its position in CSX Corporation (NASDAQ:CSX) by 10.0% in the second quarter, HoldingsChannel.com reports. The firm owned 90,000 shares of the transportation company’s stock after selling 10,000 shares during the quarter. CSX comprises approximately 2.1% of Mount Vernon Associates Inc. MD’s investment portfolio, making the stock its 14th biggest holding. Mount Vernon Associates Inc. MD’s holdings in CSX were worth $2,937,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in CSX. Rossby Financial LCC acquired a new stake in CSX in the first quarter worth approximately $28,000. Barnes Dennig Private Wealth Management LLC bought a new position in shares of CSX in the first quarter valued at $30,000. Kessler Investment Group LLC bought a new position in shares of CSX in the first quarter valued at $32,000. Cornerstone Planning Group LLC increased its holdings in shares of CSX by 45.8% in the first quarter. Cornerstone Planning Group LLC now owns 1,414 shares of the transportation company’s stock valued at $39,000 after buying an additional 444 shares in the last quarter. Finally, Caldwell Sutter Capital Inc. increased its holdings in shares of CSX by 87.7% in the first quarter. Caldwell Sutter Capital Inc. now owns 1,541 shares of the transportation company’s stock valued at $45,000 after buying an additional 720 shares in the last quarter. 73.57% of the stock is currently owned by institutional investors and hedge funds.

CSX Trading Up 1.2%

NASDAQ CSX opened at $36.01 on Friday. CSX Corporation has a twelve month low of $26.22 and a twelve month high of $37.25. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.63 and a current ratio of 0.77. The stock has a market cap of $67.13 billion, a price-to-earnings ratio of 22.23, a PEG ratio of 2.79 and a beta of 1.29. The firm’s 50 day moving average price is $34.23 and its two-hundred day moving average price is $31.99.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.02. CSX had a net margin of 21.92% and a return on equity of 25.48%. The firm had revenue of $3.57 billion for the quarter, compared to analysts’ expectations of $3.57 billion. During the same period in the previous year, the company posted $0.49 EPS. The company’s quarterly revenue 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 business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Friday, August 29th. CSX’s payout ratio is currently 32.10%.

Analyst Ratings Changes

CSX has been the topic of several research reports. Barclays upped their price target on CSX from $36.00 to $38.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Jefferies Financial Group reaffirmed a “buy” rating on shares of CSX in a report on Monday, September 29th. Robert W. Baird dropped their price target on CSX from $44.00 to $39.00 and set an “outperform” rating on the stock in a report on Friday, September 26th. Deutsche Bank Aktiengesellschaft raised CSX from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a report on Thursday, July 24th. Finally, Evercore ISI dropped their price target on CSX from $39.00 to $37.00 and set an “outperform” rating on the stock in a report on Thursday, September 25th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $37.95.

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.