CSX Co. (NASDAQ:CSX) Shares Sold by Gradient Investments LLC

Posted by on Jun 28th, 2023

Gradient Investments LLC lowered its stake in shares of CSX Co. (NASDAQ:CSX – Get Rating) by 5.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,615 shares of the transportation company’s stock after selling 600 shares during the period. Gradient Investments LLC’s holdings in CSX were worth $318,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Valmark Advisers Inc. raised its holdings in CSX by 1.0% during the 4th quarter. Valmark Advisers Inc. now owns 33,240 shares of the transportation company’s stock worth $1,030,000 after buying an additional 322 shares during the period. Relyea Zuckerberg Hanson LLC lifted its position in shares of CSX by 2.5% in the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 13,740 shares of the transportation company’s stock valued at $426,000 after acquiring an additional 331 shares in the last quarter. New England Research & Management Inc. lifted its position in shares of CSX by 0.3% in the 1st quarter. New England Research & Management Inc. now owns 109,894 shares of the transportation company’s stock valued at $3,290,000 after acquiring an additional 350 shares in the last quarter. Smith Anglin Financial LLC boosted its stake in CSX by 5.4% in the 1st quarter. Smith Anglin Financial LLC now owns 6,861 shares of the transportation company’s stock worth $205,000 after purchasing an additional 350 shares during the period. Finally, Associated Banc Corp grew its position in CSX by 0.7% during the 4th quarter. Associated Banc Corp now owns 54,607 shares of the transportation company’s stock worth $1,692,000 after purchasing an additional 366 shares in the last quarter. 72.36% of the stock is currently owned by institutional investors and hedge funds.

CSX Stock Up 1.1 %

CSX stock opened at $33.47 on Wednesday. The firm has a market cap of $68.05 billion, a price-to-earnings ratio of 16.49, a P/E/G ratio of 2.30 and a beta of 1.22. The firm has a fifty day moving average price of $31.86 and a two-hundred day moving average price of $31.17. CSX Co. has a fifty-two week low of $25.80 and a fifty-two week high of $34.71. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.45 and a quick ratio of 1.28.

CSX (NASDAQ:CSX – Get Rating) last posted its quarterly earnings data on Thursday, April 20th. The transportation company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.05. The business had revenue of $3.71 billion during the quarter, compared to analysts’ expectations of $3.58 billion. CSX had a return on equity of 33.01% and a net margin of 28.35%. The firm’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.39 EPS. As a group, analysts forecast that CSX Co. will post 1.95 earnings per share for the current year.

CSX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Stockholders of record on Wednesday, May 31st were paid a $0.11 dividend. The ex-dividend date was Tuesday, May 30th. This represents a $0.44 annualized dividend and a dividend yield of 1.31%. CSX’s payout ratio is 21.67%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Credit Suisse Group reaffirmed an “outperform” rating and issued a $37.00 target price on shares of CSX in a research report on Friday, April 21st. Morgan Stanley lifted their target price on CSX from $24.00 to $26.00 and gave the company an “equal weight” rating in a research note on Friday, April 21st. JPMorgan Chase & Co. increased their price target on shares of CSX from $33.00 to $35.00 and gave the stock a “neutral” rating in a research report on Friday, April 21st. StockNews.com raised shares of CSX from a “hold” rating to a “buy” rating in a research report on Thursday, May 25th. Finally, Raymond James increased their target price on shares of CSX from $34.00 to $35.00 and gave the stock an “outperform” rating in a research report on Friday, April 21st. Nine equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $34.92.

About CSX

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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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Institutional Ownership by Quarter for CSX (NASDAQ:CSX)

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