CSX Co. (NASDAQ:CSX) Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp decreased its holdings in CSX Co. (NASDAQ:CSX) by 15.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,340 shares of the transportation company’s stock after selling 1,505 shares during the quarter. King Luther Capital Management Corp’s holdings in CSX were worth $279,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CSX. Financial Synergies Wealth Advisors Inc. bought a new position in CSX during the first quarter worth $29,000. MFA Wealth Advisors LLC bought a new position in shares of CSX in the 2nd quarter worth about $27,000. Valued Wealth Advisors LLC boosted its holdings in shares of CSX by 172.7% in the 1st quarter. Valued Wealth Advisors LLC now owns 938 shares of the transportation company’s stock valued at $35,000 after buying an additional 594 shares during the period. Burkett Financial Services LLC bought a new stake in shares of CSX during the 4th quarter valued at about $34,000. Finally, Tortoise Investment Management LLC acquired a new stake in CSX during the fourth quarter worth about $35,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. 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. Susquehanna boosted their price target on shares of CSX from $40.00 to $41.00 and gave the company a “positive” rating in a report on Wednesday, August 7th. Wells Fargo & Company started coverage on shares of CSX in a report on Friday, June 7th. They issued an “equal weight” rating and a $35.00 price objective on the stock. JPMorgan Chase & Co. boosted their target price on shares of CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. Finally, Benchmark restated a “buy” rating and issued a $40.00 price target on shares of CSX in a research note 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’s stock. According to MarketBeat.com, CSX has an average rating of “Moderate Buy” and an average price target of $38.80.

CSX Stock Down 2.6 %

Shares of NASDAQ CSX opened at $34.02 on Tuesday. The business has a fifty day moving average of $34.01 and a two-hundred day moving average of $34.31. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.01 and a current ratio of 1.16. CSX Co. has a 52-week low of $29.03 and a 52-week high of $40.12. The stock has a market cap of $66.51 billion, a PE ratio of 18.69, a PEG ratio of 1.77 and a beta of 1.19.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Monday, August 5th. The transportation company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates 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%. The business’s revenue was up .0% on a year-over-year basis. During the same period last year, the firm posted $0.49 EPS. As a group, equities research analysts expect that CSX Co. will post 1.93 earnings per share for the current fiscal year.

CSX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a $0.12 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.48 annualized dividend and a dividend yield of 1.41%. CSX’s dividend payout ratio (DPR) 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.