Waters Parkerson & CO. LLC Reduces Holdings in CSX Co. (NASDAQ:CSX)

Waters Parkerson & CO. LLC lowered its stake in shares of CSX Co. (NASDAQ:CSX) by 1.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,865 shares of the transportation company’s stock after selling 445 shares during the quarter. Waters Parkerson & CO. LLC’s holdings in CSX were worth $1,467,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. MFA Wealth Advisors LLC acquired a new position in CSX in the second quarter worth approximately $27,000. Financial Synergies Wealth Advisors Inc. bought a new position in CSX during the first quarter valued at approximately $29,000. Strategic Financial Concepts LLC acquired a new position in shares of CSX during the 2nd quarter valued at about $33,000. Burkett Financial Services LLC bought a new stake in shares of CSX during the 4th quarter worth $34,000. Finally, Tortoise Investment Management LLC acquired a new position in CSX in the 4th quarter valued at $35,000. 73.57% of the stock is owned by institutional investors and hedge funds.

CSX Stock Performance

NASDAQ CSX opened at $34.80 on Friday. CSX Co. has a twelve month low of $29.03 and a twelve month 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. The stock has a market cap of $68.03 billion, a P/E ratio of 19.12, a PEG ratio of 1.77 and a beta of 1.19. The company’s 50-day simple moving average is $34.00 and its 200 day simple moving average is $34.42.

CSX (NASDAQ:CSX) last released its quarterly earnings data 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 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 company’s revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.49 EPS. As a group, research analysts forecast that CSX Co. will post 1.93 earnings per share for the current fiscal year.

CSX Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.48 annualized dividend and a yield of 1.38%. CSX’s dividend payout ratio is currently 26.37%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a report on Tuesday, August 6th. Bank of America lowered CSX from a “buy” rating to a “neutral” rating and set a $37.00 target price on the stock. in a report on Monday, July 8th. Benchmark reiterated a “buy” rating and set a $40.00 price target on shares of CSX in a report on Wednesday, August 7th. Royal Bank of Canada restated a “sector perform” rating and issued a $36.00 price objective on shares of CSX in a research note on Tuesday, August 6th. Finally, Stephens reiterated an “overweight” rating and set a $42.00 target price on shares of CSX in a research note on Tuesday, August 6th. 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 data from MarketBeat.com, CSX has an average rating of “Moderate Buy” and a consensus price target 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.