Meeder Asset Management Inc. Sells 26,913 Shares of CSX Co. (NASDAQ:CSX)

Meeder Asset Management Inc. lessened its position in CSX Co. (NASDAQ:CSX) by 95.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,176 shares of the transportation company’s stock after selling 26,913 shares during the period. Meeder Asset Management Inc.’s holdings in CSX were worth $39,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Western Wealth Management LLC lifted its stake in shares of CSX by 0.8% during the 2nd quarter. Western Wealth Management LLC now owns 36,127 shares of the transportation company’s stock worth $1,208,000 after buying an additional 295 shares during the last quarter. TriaGen Wealth Management LLC lifted its stake in shares of CSX by 2.7% during the 2nd quarter. TriaGen Wealth Management LLC now owns 11,524 shares of the transportation company’s stock worth $385,000 after buying an additional 300 shares during the last quarter. Miracle Mile Advisors LLC lifted its stake in shares of CSX by 0.3% during the 1st quarter. Miracle Mile Advisors LLC now owns 103,563 shares of the transportation company’s stock worth $3,839,000 after buying an additional 303 shares during the last quarter. Team Hewins LLC lifted its stake in shares of CSX by 1.7% during the 1st quarter. Team Hewins LLC now owns 18,778 shares of the transportation company’s stock worth $696,000 after buying an additional 306 shares during the last quarter. Finally, Appleton Partners Inc. MA lifted its stake in shares of CSX by 1.8% during the 2nd quarter. Appleton Partners Inc. MA now owns 18,748 shares of the transportation company’s stock worth $627,000 after buying an additional 339 shares during the last quarter. Institutional investors own 73.57% of the company’s stock.

CSX Trading Up 0.2 %

CSX opened at $33.52 on Monday. CSX Co. has a fifty-two week low of $29.03 and a fifty-two week high of $40.12. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.16 and a quick ratio of 1.01. The firm has a market capitalization of $65.53 billion, a price-to-earnings ratio of 18.42, a PEG ratio of 1.77 and a beta of 1.19. The company’s 50 day moving average price is $33.91 and its two-hundred day moving average price is $34.48.

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 analysts’ consensus estimates of $0.48 by $0.01. CSX had a net margin of 24.52% and a return on equity of 29.11%. The firm had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.70 billion. During the same period in the previous year, the firm posted $0.49 EPS. The company’s revenue for the quarter was up .0% compared to the same quarter last year. As a group, research analysts predict that CSX Co. will post 1.93 earnings per share for the current year.

CSX Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend 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

CSX has been the subject of a number of research reports. Evercore ISI upgraded shares of CSX to a “strong-buy” rating in a research note on Tuesday, August 6th. Wells Fargo & Company initiated coverage on shares of CSX in a research note on Friday, June 7th. They issued an “equal weight” rating and a $35.00 price objective for the company. Sanford C. Bernstein lifted their price objective on shares of CSX from $35.00 to $36.00 and gave the stock a “market perform” rating in a research note on Monday, July 8th. BMO Capital Markets reiterated an “outperform” rating and issued a $40.00 price objective on shares of CSX in a research note on Tuesday, August 6th. Finally, Stephens reiterated an “overweight” rating and issued a $42.00 price objective on shares of CSX in a research note on Tuesday, August 6th. Seven analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $38.80.

CSX 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.