FRG Family Wealth Advisors LLC Cuts Stake in CSX Co. (NASDAQ:CSX)

FRG Family Wealth Advisors LLC lessened its holdings in CSX Co. (NASDAQ:CSX) by 4.9% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,610 shares of the transportation company’s stock after selling 750 shares during the period. FRG Family Wealth Advisors LLC’s holdings in CSX were worth $495,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Norges Bank purchased a new position in CSX in the fourth quarter valued at $757,276,000. 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 in the last quarter. Capital International Investors boosted its stake in shares of CSX by 14.3% in the 4th quarter. Capital International Investors now owns 40,353,078 shares of the transportation company’s stock valued at $1,399,104,000 after buying an additional 5,041,679 shares during the period. Manning & Napier Advisors LLC acquired a new position in shares of CSX during the second quarter worth about $116,430,000. Finally, M&G Plc purchased a new stake in shares of CSX during the first quarter worth approximately $126,089,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Stephens reiterated an “overweight” rating and set a $42.00 price target on shares of CSX in a report on Tuesday, August 6th. Evercore ISI upgraded shares of CSX to a “strong-buy” rating in a research note on Tuesday, August 6th. Bank of America downgraded CSX from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a report on Monday, July 8th. Benchmark reiterated a “buy” rating and issued a $40.00 price objective on shares of CSX in a report on Wednesday, August 7th. Finally, Sanford C. Bernstein boosted their target price on CSX from $35.00 to $36.00 and gave the stock a “market perform” rating in a research note on Monday, July 8th. Seven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $38.80.

CSX Trading Up 1.2 %

Shares of CSX stock opened at $33.76 on Tuesday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.01 and a current ratio of 1.16. The company has a market capitalization of $66.00 billion, a P/E ratio of 18.55, a PEG ratio of 1.78 and a beta of 1.19. CSX Co. has a 1 year low of $29.03 and a 1 year high of $40.12. The company’s fifty day moving average is $33.92 and its two-hundred day moving average is $34.60.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Monday, August 5th. The transportation company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01. The firm had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.70 billion. CSX had a return on equity of 29.11% and a net margin of 24.52%. The business’s revenue was up .0% on a year-over-year basis. During the same quarter last year, the company posted $0.49 earnings per share. Analysts forecast that CSX Co. will post 1.94 earnings per share for the current year.

CSX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend is Friday, August 30th. CSX’s dividend payout ratio (DPR) is presently 26.37%.

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.