E Fund Management Co. Ltd. Cuts Stake in CSX Co. (NASDAQ:CSX)

E Fund Management Co. Ltd. lowered its position in shares of CSX Co. (NASDAQ:CSX) by 17.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,629 shares of the transportation company’s stock after selling 4,290 shares during the period. E Fund Management Co. Ltd.’s holdings in CSX were worth $657,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CSX. Bradley Foster & Sargent Inc. CT grew its stake in CSX by 2.8% in the second quarter. Bradley Foster & Sargent Inc. CT now owns 56,317 shares of the transportation company’s stock valued at $1,884,000 after purchasing an additional 1,546 shares during the last quarter. Wulff Hansen & CO. grew its stake in CSX by 3,243.0% in the second quarter. Wulff Hansen & CO. now owns 2,192,246 shares of the transportation company’s stock valued at $73,331,000 after purchasing an additional 2,126,668 shares during the last quarter. Renaissance Technologies LLC grew its stake in CSX by 12.5% in the second quarter. Renaissance Technologies LLC now owns 894,100 shares of the transportation company’s stock valued at $29,908,000 after purchasing an additional 99,600 shares during the last quarter. Citizens Financial Group Inc. RI grew its stake in CSX by 7.2% in the second quarter. Citizens Financial Group Inc. RI now owns 35,189 shares of the transportation company’s stock valued at $1,177,000 after purchasing an additional 2,366 shares during the last quarter. Finally, One Capital Management LLC purchased a new position in CSX in the second quarter valued at about $637,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Susquehanna raised their price target on CSX from $40.00 to $41.00 and gave the stock a “positive” rating in a report on Wednesday, August 7th. Sanford C. Bernstein raised their price target on CSX from $35.00 to $36.00 and gave the stock a “market perform” rating in a report on Monday, July 8th. Royal Bank of Canada reissued a “sector perform” rating and issued a $36.00 price target on shares of CSX in a report on Tuesday, August 6th. Wells Fargo & Company assumed coverage on CSX in a report on Friday, June 7th. They issued an “equal weight” rating and a $35.00 price target for the company. Finally, Benchmark reissued a “buy” rating and issued a $40.00 price target on shares of CSX in a report on Wednesday, August 7th. Seven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, CSX presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.80.

CSX Stock Down 0.1 %

Shares of CSX stock opened at $34.05 on Thursday. The stock has a 50 day moving average of $33.98 and a 200 day moving average of $34.41. The company has a current ratio of 1.16, a quick ratio of 1.01 and a debt-to-equity ratio of 1.42. The stock has a market cap of $66.57 billion, a P/E ratio of 18.71, a P/E/G ratio of 1.77 and a beta of 1.19. CSX Co. has a twelve month low of $29.03 and a twelve month high of $40.12.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Monday, August 5th. The transportation company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.01. The company 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%. CSX’s quarterly revenue was up .0% on a year-over-year basis. During the same period last year, the business earned $0.49 earnings per share. As a group, sell-side analysts expect that CSX Co. will post 1.93 EPS for the current year.

CSX Dividend Announcement

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