Meeder Asset Management Inc. Sells 26,913 Shares of CSX Co. (NASDAQ:CSX)

Meeder Asset Management Inc. reduced its position in CSX Co. (NASDAQ:CSX) by 95.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,176 shares of the transportation company’s stock after selling 26,913 shares during the quarter. Meeder Asset Management Inc.’s holdings in CSX were worth $39,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Financial Synergies Wealth Advisors Inc. acquired a new position in shares of CSX during the 1st quarter valued at $29,000. MFA Wealth Advisors LLC acquired a new position in shares of CSX during the 2nd quarter valued at $27,000. Valued Wealth Advisors LLC lifted its position in shares of CSX by 172.7% during the 1st quarter. Valued Wealth Advisors LLC now owns 938 shares of the transportation company’s stock valued at $35,000 after acquiring an additional 594 shares during the period. Burkett Financial Services LLC acquired a new position in shares of CSX during the 4th quarter valued at $34,000. Finally, Tortoise Investment Management LLC acquired a new position in shares of CSX during the 4th quarter valued at $35,000. 73.57% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CSX has been the topic of a number of research reports. Bank of America downgraded shares of CSX from a “buy” rating to a “neutral” rating and set a $37.00 target price on the stock. in a research report on Monday, July 8th. JPMorgan Chase & Co. upped their price objective on shares of CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a report on Tuesday, August 6th. Susquehanna upped their price objective on shares of CSX from $40.00 to $41.00 and gave the stock a “positive” rating in a report on Wednesday, August 7th. Stephens restated an “overweight” rating and set a $42.00 price objective on shares of CSX in a report on Tuesday, August 6th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $36.00 price objective on shares of CSX in a report on Tuesday, August 6th. Seven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $38.80.

CSX Price Performance

CSX opened at $33.52 on Monday. The firm has a market cap of $65.53 billion, a P/E ratio of 18.42, a PEG ratio of 1.77 and a beta of 1.19. The firm has a 50-day moving average of $33.91 and a 200 day moving average of $34.48. 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 fifty-two week low of $29.03 and a fifty-two week high of $40.12.

CSX (NASDAQ:CSX) last posted its quarterly 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 company had revenue of $3.70 billion during the quarter, compared to analyst estimates of $3.70 billion. CSX had a net margin of 24.52% and a return on equity of 29.11%. The firm’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.49 earnings per share. On average, research analysts expect that CSX Co. will post 1.93 EPS for the current year.

CSX Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.48 annualized dividend and a yield of 1.43%. CSX’s payout ratio 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.