Weatherly Asset Management L. P. Has $1.06 Million Position in CSX Co. (NASDAQ:CSX)

Weatherly Asset Management L. P. lessened its stake in shares of CSX Co. (NASDAQ:CSX) by 15.5% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 31,786 shares of the transportation company’s stock after selling 5,839 shares during the quarter. Weatherly Asset Management L. P.’s holdings in CSX were worth $1,063,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of CSX. MFA Wealth Advisors LLC acquired a new stake in shares of CSX during the 2nd quarter worth $27,000. Financial Synergies Wealth Advisors Inc. acquired a new position in CSX during the first quarter worth about $29,000. Burkett Financial Services LLC bought a new position in shares of CSX in the fourth quarter worth about $34,000. Tortoise Investment Management LLC acquired a new stake in CSX in the fourth quarter valued at approximately $35,000. Finally, Valued Wealth Advisors LLC lifted its stake in shares of CSX by 172.7% in the 1st quarter. Valued Wealth Advisors LLC now owns 938 shares of the transportation company’s stock valued at $35,000 after acquiring an additional 594 shares during the last quarter. 73.57% of the stock is currently owned by institutional investors and hedge funds.

CSX Stock Up 1.3 %

Shares of CSX traded up $0.45 during trading hours on Friday, hitting $34.27. The stock had a trading volume of 9,050,356 shares, compared to its average volume of 10,620,738. CSX Co. has a 1-year low of $29.03 and a 1-year high of $40.12. The firm has a market capitalization of $67.00 billion, a P/E ratio of 18.83, a price-to-earnings-growth ratio of 1.82 and a beta of 1.20. The firm has a 50 day simple moving average of $33.80 and a 200-day simple moving average of $34.74. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.16 and a quick ratio of 1.01.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Monday, August 5th. The transportation company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. CSX had a return on equity of 29.11% and a net margin of 24.52%. The firm had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.70 billion. During the same quarter last year, the firm posted $0.49 earnings per share. The company’s revenue for the quarter was up .0% compared to the same quarter last year. Sell-side analysts predict that CSX Co. will post 1.94 EPS for the current fiscal year.

CSX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.48 annualized dividend and a yield of 1.40%. CSX’s payout ratio is 26.37%.

Analyst Ratings Changes

A number of brokerages recently weighed in on CSX. Benchmark restated a “buy” rating and set a $40.00 price objective on shares of CSX in a research report on Wednesday, August 7th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $40.00 price objective on shares of CSX in a research note on Tuesday, August 6th. Bank of America downgraded shares of CSX from a “buy” rating to a “neutral” rating and set a $37.00 target price on the stock. in a research report on Monday, July 8th. Wells Fargo & Company initiated coverage on CSX in a report on Friday, June 7th. They issued an “equal weight” rating and a $35.00 price objective for the company. Finally, JPMorgan Chase & Co. raised their price objective on CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 6th. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $38.80.

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.