NewEdge Advisors LLC Has $2.47 Million Stake in CSX Corporation $CSX

Key Points

• NewEdge Advisors LLC reduced its stake in CSX Corporation by 16.1%, holding $2.47 million worth of shares after selling 16,103 shares in the first quarter.
• A number of hedge funds, including CWA Asset Management Group LLC and Dynamic Advisor Solutions LLC, have recently increased their stakes in CSX, indicating continued interest from institutional investors.
• CSX's recent earnings report showed EPS of $0.44, surpassing expectations, while the company has declared a quarterly dividend of $0.13 per share with a yield of 1.6%.

NewEdge Advisors LLC lowered its stake in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 16.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 83,819 shares of the transportation company's stock after selling 16,103 shares during the quarter. NewEdge Advisors LLC's holdings in CSX were worth $2,467,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. CWA Asset Management Group LLC grew its holdings in CSX by 15.1% during the 1st quarter. CWA Asset Management Group LLC now owns 12,514 shares of the transportation company's stock worth $368,000 after acquiring an additional 1,642 shares during the last quarter. Dynamic Advisor Solutions LLC grew its holdings in CSX by 9.8% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 38,757 shares of the transportation company's stock worth $1,141,000 after acquiring an additional 3,458 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in CSX by 61.4% during the 1st quarter. Farther Finance Advisors LLC now owns 14,154 shares of the transportation company's stock worth $418,000 after acquiring an additional 5,382 shares during the last quarter. GAMMA Investing LLC grew its holdings in CSX by 23.2% during the 1st quarter. GAMMA Investing LLC now owns 35,910 shares of the transportation company's stock worth $1,057,000 after acquiring an additional 6,766 shares during the last quarter. Finally, Public Sector Pension Investment Board grew its holdings in CSX by 9.3% during the 1st quarter. Public Sector Pension Investment Board now owns 262,505 shares of the transportation company's stock worth $7,726,000 after acquiring an additional 22,367 shares during the last quarter. Institutional investors own 73.57% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Raymond James Financial increased their price objective on shares of CSX from $33.00 to $37.00 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. Deutsche Bank Aktiengesellschaft raised shares of CSX from a "hold" rating to a "buy" rating and set a $40.00 price objective on the stock in a report on Thursday, July 24th. Susquehanna reaffirmed a "neutral" rating and issued a $35.00 target price on shares of CSX in a research note on Tuesday, June 24th. BMO Capital Markets lowered shares of CSX from an "outperform" rating to a "market perform" rating and set a $38.00 target price on the stock. in a research note on Monday, August 18th. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $35.00 target price on shares of CSX in a research note on Monday, June 2nd. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat, CSX has an average rating of "Moderate Buy" and a consensus price target of $37.00.

CSX Price Performance

Shares of CSX stock opened at $32.05 on Thursday. CSX Corporation has a 52-week low of $26.22 and a 52-week high of $37.25. The stock has a market cap of $59.75 billion, a PE ratio of 19.78, a PEG ratio of 2.40 and a beta of 1.25. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.63 and a current ratio of 0.77. The firm's 50 day moving average price is $34.29 and its two-hundred day moving average price is $31.63.

CSX (NASDAQ:CSX - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.42 by $0.02. CSX had a net margin of 21.92% and a return on equity of 25.48%. The firm had revenue of $3.57 billion for the quarter, compared to analysts' expectations of $3.57 billion. During the same period last year, the firm earned $0.49 earnings per share. The business's revenue for the quarter was down 3.5% on a year-over-year basis. As a group, analysts forecast that CSX Corporation will post 1.83 EPS for the current year.

CSX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.52 annualized dividend and a yield of 1.6%. CSX's dividend payout ratio (DPR) is presently 32.10%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.