Lynch & Associates IN cut its holdings in CSX Co. (NASDAQ:CSX – Free Report) by 3.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,393 shares of the transportation company’s stock after selling 750 shares during the quarter. Lynch & Associates IN’s holdings in CSX were worth $730,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. ICA Group Wealth Management LLC lifted its position in CSX by 7.2% in the 1st quarter. ICA Group Wealth Management LLC now owns 5,306 shares of the transportation company’s stock valued at $159,000 after acquiring an additional 356 shares in the last quarter. Maltin Wealth Management Inc. bought a new position in shares of CSX during the 2nd quarter valued at $588,000. Czech National Bank lifted its holdings in shares of CSX by 0.6% during the 1st quarter. Czech National Bank now owns 247,675 shares of the transportation company’s stock valued at $7,415,000 after buying an additional 1,586 shares during the period. TrueWealth Advisors LLC bought a new position in shares of CSX during the 1st quarter valued at $289,000. Finally, Point72 Asset Management L.P. lifted its holdings in shares of CSX by 3.9% during the 4th quarter. Point72 Asset Management L.P. now owns 4,994,715 shares of the transportation company’s stock valued at $154,736,000 after buying an additional 186,588 shares during the period. 72.76% of the stock is owned by institutional investors.
CSX Price Performance
Shares of CSX stock traded down $0.47 during trading on Tuesday, reaching $30.63. 5,481,830 shares of the stock traded hands, compared to its average volume of 13,113,862. The company has a market capitalization of $61.45 billion, a price-to-earnings ratio of 15.43, a P/E/G ratio of 2.66 and a beta of 1.22. The business has a fifty day simple moving average of $31.65 and a two-hundred day simple moving average of $31.37. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.42 and a quick ratio of 1.21. CSX Co. has a 52-week low of $25.80 and a 52-week high of $34.38.
CSX Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Thursday, August 31st were issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date of this dividend was Wednesday, August 30th. CSX’s payout ratio is 22.22%.
Analysts Set New Price Targets
Several research firms have recently weighed in on CSX. Morgan Stanley reissued an “equal weight” rating and set a $25.00 price target on shares of CSX in a report on Friday, July 21st. Benchmark reissued a “buy” rating and set a $37.00 price target on shares of CSX in a report on Friday, July 21st. Citigroup lowered their price target on CSX from $39.00 to $38.00 and set a “buy” rating on the stock in a report on Friday, July 21st. Argus raised their target price on CSX from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Tuesday, July 25th. Finally, Susquehanna decreased their target price on CSX from $38.00 to $36.00 and set a “neutral” rating on the stock in a report on Friday, July 21st. Nine investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $35.43.
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 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.
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