CSX Co. (NASDAQ:CSX) Shares Sold by Legacy Financial Advisors Inc.

Legacy Financial Advisors Inc. cut its stake in shares of CSX Co. (NASDAQ:CSX) by 6.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,384 shares of the transportation company’s stock after selling 542 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in CSX were worth $280,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

CSX has been the topic of a number of recent analyst reports. BMO Capital Markets reaffirmed an “outperform” rating and set a $40.00 price objective on shares of CSX in a report 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 price target for the company. Royal Bank of Canada reissued a “sector perform” rating and set a $36.00 price objective on shares of CSX in a report on Tuesday, August 6th. Bank of America cut shares of CSX from a “buy” rating to a “neutral” rating and set a $37.00 target price for the company. in a report on Monday, July 8th. Finally, Benchmark restated a “buy” rating and issued a $40.00 price target on shares of CSX in a report on Wednesday, August 7th. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, CSX presently has an average rating of “Moderate Buy” and an average target price of $38.80.

CSX Stock Performance

NASDAQ CSX opened at $34.93 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.16 and a debt-to-equity ratio of 1.42. CSX Co. has a fifty-two week low of $29.03 and a fifty-two week high of $40.12. The business has a fifty day moving average of $34.02 and a 200-day moving average of $34.37. The stock has a market cap of $68.29 billion, a price-to-earnings ratio of 19.19, a price-to-earnings-growth ratio of 1.77 and a beta of 1.19.

CSX (NASDAQ:CSX) last announced its 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. CSX had a net margin of 24.52% and a return on equity of 29.11%. The firm had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.70 billion. During the same quarter in the previous year, the company posted $0.49 EPS. The firm’s revenue for the quarter was up .0% on a year-over-year basis. As a group, analysts predict that CSX Co. will post 1.93 earnings per share for the current fiscal year.

CSX Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.37%. The ex-dividend date was Friday, August 30th. CSX’s payout ratio is 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.