CSX Co. (NASDAQ:CSX) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. reduced its stake in CSX Co. (NASDAQ:CSX) by 12.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 29,178 shares of the transportation company’s stock after selling 4,155 shares during the quarter. Federated Hermes Inc.’s holdings in CSX were worth $976,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in CSX. GHP Investment Advisors Inc. boosted its holdings in CSX by 1.6% during the 2nd quarter. GHP Investment Advisors Inc. now owns 325,468 shares of the transportation company’s stock valued at $10,887,000 after acquiring an additional 5,008 shares during the period. Meeder Advisory Services Inc. boosted its stake in shares of CSX by 27.1% in the second quarter. Meeder Advisory Services Inc. now owns 52,608 shares of the transportation company’s stock valued at $1,760,000 after purchasing an additional 11,211 shares during the period. DekaBank Deutsche Girozentrale increased its stake in CSX by 1.4% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 1,774,648 shares of the transportation company’s stock worth $58,545,000 after buying an additional 25,315 shares during the period. Oppenheimer & Co. Inc. lifted its holdings in CSX by 0.6% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 196,321 shares of the transportation company’s stock worth $6,567,000 after buying an additional 1,236 shares in the last quarter. Finally, Eagle Strategies LLC purchased a new position in CSX in the 2nd quarter valued at approximately $1,179,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on CSX shares. JPMorgan Chase & Co. upped their price objective on CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 6th. Stephens reaffirmed an “overweight” rating and issued a $42.00 price target on shares of CSX in a research report on Tuesday, August 6th. Royal Bank of Canada reissued a “sector perform” rating and set a $36.00 price objective on shares of CSX in a research 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 on the stock. in a report on Monday, July 8th. Finally, Benchmark reiterated a “buy” rating and set 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 issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $38.80.

CSX Price Performance

Shares of CSX opened at $34.93 on Friday. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.16 and a quick ratio of 1.01. CSX Co. has a 1-year low of $29.03 and a 1-year high of $40.12. The stock has a market cap of $68.29 billion, a PE ratio of 19.19, a price-to-earnings-growth ratio of 1.77 and a beta of 1.19. The firm has a fifty day moving average price of $34.02 and a 200 day moving average price of $34.37.

CSX (NASDAQ:CSX) last posted 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. The business had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.70 billion. CSX had a return on equity of 29.11% and a net margin of 24.52%. The business’s quarterly revenue was up .0% on a year-over-year basis. During the same period in the previous year, the business earned $0.49 EPS. As a group, sell-side analysts anticipate that CSX Co. will post 1.93 EPS for the current year.

CSX Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were issued a $0.12 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.37%. 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.