Xponance Inc. Lowers Holdings in CSX Co. (NASDAQ:CSX)

Xponance Inc. reduced its stake in shares of CSX Co. (NASDAQ:CSX) by 8.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 263,969 shares of the transportation company’s stock after selling 23,392 shares during the quarter. Xponance Inc.’s holdings in CSX were worth $8,830,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of CSX. Itau Unibanco Holding S.A. purchased a new stake in CSX during the second quarter worth $26,000. MFA Wealth Advisors LLC purchased a new stake in shares of CSX during the 2nd quarter worth about $27,000. Financial Synergies Wealth Advisors Inc. acquired a new stake in shares of CSX during the 1st quarter valued at about $29,000. Fairscale Capital LLC purchased a new position in shares of CSX in the 2nd quarter valued at about $32,000. Finally, Strategic Financial Concepts LLC acquired a new position in CSX in the 2nd quarter worth about $33,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Stock Performance

NASDAQ:CSX opened at $34.02 on Tuesday. The company’s 50-day moving average is $34.01 and its two-hundred day moving average is $34.31. The firm has a market capitalization of $66.51 billion, a price-to-earnings ratio of 18.69, a PEG ratio of 1.77 and a beta of 1.19. 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.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Monday, August 5th. The transportation company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.48 by $0.01. The business 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 quarterly revenue was up .0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.49 EPS. Analysts forecast that CSX Co. will post 1.93 EPS for the current year.

CSX Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date of this dividend was Friday, August 30th. CSX’s dividend payout ratio (DPR) is 26.37%.

Analysts Set New Price Targets

A number of analysts have recently commented on CSX shares. Evercore ISI upgraded CSX to a “strong-buy” rating in a research report on Tuesday, August 6th. BMO Capital Markets restated an “outperform” rating and set a $40.00 price objective on shares of CSX in a research report on Tuesday, August 6th. Sanford C. Bernstein lifted their target price on shares of CSX from $35.00 to $36.00 and gave the company a “market perform” rating in a research report on Monday, July 8th. Wells Fargo & Company assumed coverage on shares of CSX in a research report on Friday, June 7th. They set an “equal weight” rating and a $35.00 price target for the company. Finally, Susquehanna lifted their price objective on CSX from $40.00 to $41.00 and gave the stock a “positive” rating in a report on Wednesday, August 7th. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, CSX has a consensus rating of “Moderate Buy” and a consensus target price of $38.80.

About CSX

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.