ICA Group Wealth Management LLC Decreases Stake in CSX Co. (NASDAQ:CSX)

ICA Group Wealth Management LLC lowered its position in CSX Co. (NASDAQ:CSX) by 94.7% during the second quarter, HoldingsChannel reports. The firm owned 1,309 shares of the transportation company’s stock after selling 23,369 shares during the period. ICA Group Wealth Management LLC’s holdings in CSX were worth $44,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CSX. Norges Bank acquired a new stake in shares of CSX in the 4th quarter worth $757,276,000. Price T Rowe Associates Inc. MD increased its position in shares of CSX by 18.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 64,807,961 shares of the transportation company’s stock worth $2,246,893,000 after purchasing an additional 9,914,656 shares during the last quarter. Capital International Investors increased its position in shares of CSX by 14.3% during the 4th 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 last quarter. Manning & Napier Advisors LLC acquired a new stake in shares of CSX during the 2nd quarter worth about $116,430,000. Finally, M&G Plc acquired a new stake in shares of CSX during the 1st quarter worth about $126,089,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Price Performance

CSX stock opened at $33.52 on Monday. The business has a 50 day moving average price of $33.91 and a 200 day moving average price of $34.48. The stock has a market cap of $65.53 billion, a price-to-earnings ratio of 18.42, a PEG ratio of 1.77 and a beta of 1.19. CSX Co. has a fifty-two week low of $29.03 and a fifty-two week high of $40.12. 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) last posted its earnings results on Monday, August 5th. The transportation company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.01. The firm had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.70 billion. CSX had a return on equity of 29.11% and a net margin of 24.52%. The firm’s 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. Equities research analysts anticipate that CSX Co. will post 1.93 earnings per share for the current fiscal year.

CSX Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date was Friday, August 30th. CSX’s dividend payout ratio is currently 26.37%.

Analysts Set New Price Targets

A number of analysts recently issued reports on CSX shares. Evercore ISI raised CSX to a “strong-buy” rating in a research report on Tuesday, August 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $36.00 target price on shares of CSX in a research report on Tuesday, August 6th. Sanford C. Bernstein lifted their target price on CSX from $35.00 to $36.00 and gave the company a “market perform” rating in a research report on Monday, July 8th. Benchmark reaffirmed a “buy” rating and issued a $40.00 target price on shares of CSX in a research report on Wednesday, August 7th. Finally, Wells Fargo & Company began coverage on CSX in a research report on Friday, June 7th. They issued an “equal weight” rating and a $35.00 target price for the company. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.