Praxis Investment Management Inc. Sells 15,511 Shares of CSX Corporation $CSX

Praxis Investment Management Inc. decreased its position in CSX Corporation (NASDAQ:CSX) by 41.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,990 shares of the transportation company’s stock after selling 15,511 shares during the quarter. Praxis Investment Management Inc.’s holdings in CSX were worth $718,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in CSX. Nuveen LLC bought a new position in shares of CSX during the first quarter valued at $182,550,000. Bank of New York Mellon Corp increased its holdings in shares of CSX by 21.6% during the first quarter. Bank of New York Mellon Corp now owns 28,383,830 shares of the transportation company’s stock valued at $835,336,000 after acquiring an additional 5,033,743 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of CSX by 1,283.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 4,190,452 shares of the transportation company’s stock valued at $123,786,000 after acquiring an additional 3,887,644 shares in the last quarter. Amundi increased its holdings in shares of CSX by 34.5% during the first quarter. Amundi now owns 13,017,397 shares of the transportation company’s stock valued at $364,357,000 after acquiring an additional 3,341,136 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in shares of CSX by 12.5% during the first quarter. Ameriprise Financial Inc. now owns 23,456,085 shares of the transportation company’s stock valued at $690,359,000 after acquiring an additional 2,599,518 shares in the last quarter. Institutional investors own 73.57% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CSX. Jefferies Financial Group set a $42.00 price target on CSX and gave the company a “buy” rating in a report on Friday. Cowen restated a “buy” rating on shares of CSX in a report on Friday. BMO Capital Markets cut CSX from an “outperform” rating to a “market perform” rating and set a $38.00 price objective on the stock. in a research report on Monday, August 18th. Bank of America dropped their price objective on CSX from $42.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, September 24th. Finally, TD Cowen increased their price objective on CSX from $38.00 to $39.00 and gave the company a “buy” rating in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $38.87.

CSX Trading Up 1.7%

CSX stock opened at $36.60 on Friday. The stock has a market capitalization of $68.23 billion, a PE ratio of 23.92, a price-to-earnings-growth ratio of 2.82 and a beta of 1.29. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.77 and a quick ratio of 0.63. The business’s fifty day moving average is $34.34 and its 200 day moving average is $32.42. CSX Corporation has a one year low of $26.22 and a one year high of $37.25.

CSX (NASDAQ:CSX) last announced its earnings results on Thursday, October 16th. The transportation company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.02. The business had revenue of $3.59 billion for the quarter, compared to analysts’ expectations of $3.60 billion. CSX had a return on equity of 25.16% and a net margin of 20.55%.The business’s revenue for the quarter was down .9% on a year-over-year basis. During the same period last year, the firm posted $0.45 earnings per share. On average, sell-side analysts predict that CSX Corporation will post 1.83 EPS for the current year.

CSX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Friday, November 28th. CSX’s dividend payout ratio (DPR) is presently 32.10%.

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.