Godshalk Welsh Capital Management Inc. Cuts Stake in CSX Co. (NASDAQ:CSX)

Godshalk Welsh Capital Management Inc. cut its holdings in shares of CSX Co. (NASDAQ:CSX) by 2.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,890 shares of the transportation company’s stock after selling 800 shares during the quarter. Godshalk Welsh Capital Management Inc.’s holdings in CSX were worth $899,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CSX. Price T Rowe Associates Inc. MD grew its position in shares of CSX by 0.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 65,251,716 shares of the transportation company’s stock worth $2,418,883,000 after buying an additional 443,755 shares in the last quarter. Capital International Investors lifted its stake in CSX by 14.3% in the fourth quarter. Capital International Investors now owns 40,353,078 shares of the transportation company’s stock worth $1,399,104,000 after acquiring an additional 5,041,679 shares during the last quarter. Fisher Asset Management LLC grew its holdings in CSX by 2.0% during the 4th quarter. Fisher Asset Management LLC now owns 22,340,864 shares of the transportation company’s stock worth $774,558,000 after acquiring an additional 433,228 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of CSX by 6.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 17,133,857 shares of the transportation company’s stock valued at $573,128,000 after purchasing an additional 1,060,204 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of CSX by 9.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 12,421,862 shares of the transportation company’s stock valued at $415,466,000 after purchasing an additional 1,060,617 shares in the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on CSX. BMO Capital Markets restated an “outperform” rating and set a $40.00 target price on shares of CSX in a research note on Tuesday, August 6th. Wells Fargo & Company assumed coverage on shares of CSX in a report on Friday, June 7th. They issued an “equal weight” rating and a $35.00 target price for the company. 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. Benchmark reissued a “buy” rating and issued a $40.00 price target on shares of CSX in a research report on Wednesday, August 7th. Finally, Sanford C. Bernstein raised their price objective on CSX from $35.00 to $36.00 and gave the stock a “market perform” rating in a report on Monday, July 8th. Seven 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 data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $38.80.

CSX Stock Up 2.2 %

CSX stock opened at $34.80 on Friday. 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 company’s 50-day moving average price is $34.00 and its 200 day moving average price is $34.42. CSX Co. has a 52 week low of $29.03 and a 52 week high of $40.12. The company has a market cap of $68.03 billion, a P/E ratio of 19.12, a P/E/G ratio of 1.77 and a beta of 1.19.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Monday, August 5th. The transportation company reported $0.49 earnings per share (EPS) 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%. CSX’s revenue was up .0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.49 earnings per share. On average, research analysts expect that CSX Co. will post 1.93 earnings per share for the current fiscal year.

CSX Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors 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 1.38%. The ex-dividend date of this dividend was Friday, August 30th. CSX’s payout ratio is currently 26.37%.

About CSX

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.