Sei Investments Co. Lowers Holdings in CSX Co. (NASDAQ:CSX)

Sei Investments Co. lowered its position in shares of CSX Co. (NASDAQ:CSX) by 18.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 486,327 shares of the transportation company’s stock after selling 111,099 shares during the period. Sei Investments Co.’s holdings in CSX were worth $16,268,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Financial Synergies Wealth Advisors Inc. purchased a new stake in shares of CSX in the 1st quarter worth approximately $29,000. MFA Wealth Advisors LLC purchased a new stake in CSX during the second quarter worth $27,000. Valued Wealth Advisors LLC boosted its position in 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 in the last quarter. Burkett Financial Services LLC purchased a new position in shares of CSX in the 4th quarter valued at $34,000. Finally, Tortoise Investment Management LLC bought a new position in shares of CSX in the 4th quarter worth $35,000. 73.57% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CSX shares. Benchmark reaffirmed a “buy” rating and set a $40.00 price objective on shares of CSX in a research report on Wednesday, August 7th. Sanford C. Bernstein lifted their price objective 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. Wells Fargo & Company initiated coverage on shares of CSX in a research report on Friday, June 7th. They set an “equal weight” rating and a $35.00 target price for the company. Stephens reaffirmed an “overweight” rating and set a $42.00 price target on shares of CSX in a research report on Tuesday, August 6th. Finally, Bank of America lowered CSX from a “buy” rating to a “neutral” rating and set a $37.00 price objective for the company. in a report on Monday, July 8th. Seven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $38.93.

CSX Stock Up 1.1 %

Shares of CSX stock opened at $33.90 on Friday. 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. The firm has a market capitalization of $66.27 billion, a PE ratio of 18.63, a P/E/G ratio of 1.91 and a beta of 1.19. The stock’s 50-day simple moving average is $33.95 and its 200-day simple moving average is $34.28.

CSX (NASDAQ:CSX) last announced its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $3.70 billion. CSX had a net margin of 24.52% and a return on equity of 29.11%. The business’s quarterly revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.49 EPS. Equities analysts expect that CSX Co. will post 1.93 earnings per share for the current year.

CSX Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.42%. The ex-dividend date was Friday, August 30th. CSX’s dividend payout ratio is currently 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.