Resources Management Corp CT ADV trimmed its holdings in CSX Co. (NASDAQ:CSX – Free Report) by 5.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,811 shares of the transportation company’s stock after selling 1,235 shares during the quarter. Resources Management Corp CT ADV’s holdings in CSX were worth $730,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its position in CSX by 18.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 64,807,961 shares of the transportation company’s stock valued at $2,246,893,000 after purchasing an additional 9,914,656 shares during the last quarter. Capital International Investors lifted its holdings in shares of CSX by 14.3% during the fourth quarter. Capital International Investors now owns 40,353,078 shares of the transportation company’s stock worth $1,399,104,000 after purchasing an additional 5,041,679 shares during the period. Interval Partners LP grew its position in CSX by 849.0% in the 2nd quarter. Interval Partners LP now owns 5,118,751 shares of the transportation company’s stock valued at $171,222,000 after buying an additional 4,579,344 shares during the last quarter. Manning & Napier Advisors LLC acquired a new position in CSX in the 2nd quarter valued at $116,430,000. Finally, M&G Plc acquired a new stake in shares of CSX in the 1st quarter worth $126,089,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CSX. Wells Fargo & Company initiated coverage on shares of CSX in a report on Friday, June 7th. They set an “equal weight” rating and a $35.00 price target for the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $36.00 price objective on shares of CSX in a research note on Tuesday, August 6th. JPMorgan Chase & Co. lifted their target price on shares of CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 6th. Sanford C. Bernstein increased their price target on shares of CSX from $35.00 to $36.00 and gave the company a “market perform” rating in a research report on Monday, July 8th. Finally, Benchmark restated a “buy” rating and set a $40.00 price objective on shares of CSX in a research report on Wednesday, August 7th. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $38.80.

Check Out Our Latest Stock Analysis on CSX

CSX Stock Up 0.4 %

Shares of CSX opened at $34.14 on Wednesday. CSX Co. has a fifty-two week low of $29.03 and a fifty-two week high of $40.12. The company’s fifty day moving average is $33.98 and its two-hundred day moving average is $34.28. The firm has a market cap of $66.74 billion, a PE ratio of 18.76, a price-to-earnings-growth ratio of 1.77 and a beta of 1.19. The company has a quick ratio of 1.01, a current ratio of 1.16 and a debt-to-equity ratio of 1.42.

CSX (NASDAQ:CSX – Get Free Report) last posted its quarterly earnings results on Monday, August 5th. The transportation company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. The firm had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.70 billion. CSX had a return on equity of 29.11% and a net margin of 24.52%. The firm’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.49 earnings per share. Analysts forecast that CSX Co. will post 1.93 earnings per share for the current year.

CSX Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were issued a $0.12 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.48 annualized dividend and a yield of 1.41%. CSX’s payout ratio is 26.37%.

CSX Profile

(Free Report)

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.

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