Morse Asset Management Inc Sells 1,000 Shares of CSX Co. (NASDAQ:CSX)

Morse Asset Management Inc reduced its stake in shares of CSX Co. (NASDAQ:CSX) by 3.6% in the second quarter, according to its most recent filing with the SEC. The fund owned 26,700 shares of the transportation company’s stock after selling 1,000 shares during the period. Morse Asset Management Inc’s holdings in CSX were worth $893,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its stake in shares of CSX by 18.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 64,807,961 shares of the transportation company’s stock valued at $2,246,893,000 after purchasing an additional 9,914,656 shares in the last quarter. Capital International Investors boosted its position in CSX by 14.3% during the fourth quarter. Capital International Investors now owns 40,353,078 shares of the transportation company’s stock valued at $1,399,104,000 after buying an additional 5,041,679 shares during the period. Interval Partners LP grew its stake in shares of CSX by 849.0% during the second quarter. Interval Partners LP now owns 5,118,751 shares of the transportation company’s stock valued at $171,222,000 after buying an additional 4,579,344 shares during the last quarter. Manning & Napier Advisors LLC purchased a new position in shares of CSX in the second quarter worth about $116,430,000. Finally, M&G Plc purchased a new position in shares of CSX in the first quarter worth about $126,089,000. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CSX. Evercore ISI upgraded CSX to a “strong-buy” rating 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. 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 reissued a “sector perform” rating and set a $36.00 price target on shares of CSX in a research report on Tuesday, August 6th. Finally, Stephens restated an “overweight” rating and issued a $42.00 price objective on shares of CSX in a research report on Tuesday, August 6th. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, CSX has an average rating of “Moderate Buy” and a consensus price target of $38.80.

CSX Stock Up 0.4 %

CSX stock opened at $34.93 on Monday. CSX Co. has a fifty-two week low of $29.03 and a fifty-two week high of $40.12. The company has a market capitalization 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. The business’s 50 day moving average price is $34.02 and its two-hundred day moving average price is $34.34. 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 (NASDAQ:CSX) last issued its quarterly earnings results on Monday, August 5th. The transportation company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.01. The company had revenue of $3.70 billion for 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 firm’s revenue for the quarter was up .0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.49 earnings per share. As a group, analysts forecast that CSX Co. will post 1.93 earnings per share for the current fiscal year.

CSX Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a $0.12 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.48 annualized dividend and a dividend yield of 1.37%. CSX’s payout ratio is 26.37%.

CSX 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.