CSX Co. (NASDAQ:CSX) Shares Sold by Angeles Wealth Management LLC

Angeles Wealth Management LLC cut its holdings in CSX Co. (NASDAQ:CSX) by 16.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 8,736 shares of the transportation company’s stock after selling 1,719 shares during the period. Angeles Wealth Management LLC’s holdings in CSX were worth $292,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CSX. Financial Synergies Wealth Advisors Inc. purchased a new stake in shares of CSX during the 1st quarter valued at $29,000. MFA Wealth Advisors LLC purchased a new stake in shares of CSX during the 2nd quarter valued at $27,000. Valued Wealth Advisors LLC grew its stake 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 buying an additional 594 shares during the period. Burkett Financial Services LLC purchased a new stake in shares of CSX during the 4th quarter valued at $34,000. Finally, Tortoise Investment Management LLC purchased a new stake in shares of CSX during the 4th quarter valued at $37,000. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on CSX shares. Evercore ISI raised shares of CSX to a “strong-buy” rating in a research report on Tuesday, August 6th. JPMorgan Chase & Co. upped their price target on shares of CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 6th. Sanford C. Bernstein upped their price target on shares of CSX from $35.00 to $36.00 and gave the stock a “market perform” rating in a research report on Monday, July 8th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $36.00 price target on shares of CSX in a research report on Tuesday, August 6th. Finally, Bank of America cut shares of CSX from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a research report on Monday, July 8th. Seven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $38.80.

CSX Stock Performance

Shares of CSX stock opened at $33.30 on Thursday. The firm has a market cap of $65.10 billion, a PE ratio of 18.30, a price-to-earnings-growth ratio of 1.78 and a beta of 1.19. The firm’s 50-day simple moving average is $33.91 and its 200-day simple moving average is $34.56. 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 1 year low of $29.03 and a 1 year high of $40.12.

CSX (NASDAQ:CSX) last issued its earnings results on Monday, August 5th. The transportation company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 24.52% and a return on equity of 29.11%. The company’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.49 EPS. Equities analysts forecast that CSX Co. will post 1.94 earnings per share for the current fiscal year.

CSX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.48 annualized dividend and a yield of 1.44%. CSX’s dividend payout ratio (DPR) is 26.37%.

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.