SOA Wealth Advisors LLC. Lowers Stock Holdings in CSX Corporation $CSX

Key Points

• SOA Wealth Advisors LLC has reduced its stake in CSX Corporation by 13.9%, leaving it with 88,842 shares worth approximately $2.9 million.
• Various hedge funds have shown mixed activity regarding CSX, with firms like Brighton Jones LLC increasing their holdings, while others have made significant reductions.
• Analysts remain optimistic about CSX's future performance, with several firms upgrading their ratings and increasing price targets, leading to a consensus rating of "Moderate Buy."

SOA Wealth Advisors LLC. cut its holdings in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 13.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 88,842 shares of the transportation company's stock after selling 14,321 shares during the quarter. SOA Wealth Advisors LLC.'s holdings in CSX were worth $2,899,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in CSX. Brighton Jones LLC increased its position in CSX by 5.5% during the fourth quarter. Brighton Jones LLC now owns 16,254 shares of the transportation company's stock worth $525,000 after purchasing an additional 849 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of CSX by 14.7% during the 4th quarter. Wellington Management Group LLP now owns 117,579 shares of the transportation company's stock valued at $3,794,000 after buying an additional 15,029 shares during the period. GAMMA Investing LLC increased its holdings in shares of CSX by 3,526.2% during the 1st quarter. GAMMA Investing LLC now owns 1,056,831 shares of the transportation company's stock worth $31,103,000 after buying an additional 1,027,687 shares during the last quarter. NBC Securities Inc. raised its position in shares of CSX by 94,100.0% in the 1st quarter. NBC Securities Inc. now owns 6,594 shares of the transportation company's stock worth $194,000 after buying an additional 6,587 shares during the period. Finally, Merit Financial Group LLC boosted its holdings in CSX by 25.0% in the first quarter. Merit Financial Group LLC now owns 32,091 shares of the transportation company's stock valued at $944,000 after acquiring an additional 6,427 shares during the last quarter. 73.57% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CSX has been the topic of several research reports. Jefferies Financial Group restated a "buy" rating on shares of CSX in a report on Monday. Benchmark upped their price target on shares of CSX from $37.00 to $40.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Wells Fargo & Company raised CSX from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $37.00 to $40.00 in a research report on Thursday, September 25th. Citigroup upped their target price on CSX from $36.00 to $38.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Finally, Royal Bank Of Canada raised their target price on CSX from $39.00 to $41.00 and gave the company an "outperform" rating in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, CSX presently has a consensus rating of "Moderate Buy" and a consensus target price of $37.50.

CSX Trading Down 1.4%

Shares of CSX opened at $35.00 on Thursday. CSX Corporation has a one year low of $26.22 and a one year high of $37.25. The stock has a 50-day moving average price of $34.22 and a 200 day moving average price of $31.90. 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 company has a market capitalization of $65.25 billion, a P/E ratio of 21.60, a P/E/G ratio of 2.75 and a beta of 1.29.

CSX (NASDAQ:CSX - Get Free Report) last announced its earnings results 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. The company had revenue of $3.57 billion for the quarter, compared to analyst estimates of $3.57 billion. CSX had a return on equity of 25.48% and a net margin of 21.92%.CSX's quarterly revenue was down 3.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.49 EPS. Sell-side analysts forecast that CSX Corporation will post 1.83 EPS for the current fiscal year.

CSX Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Friday, August 29th. CSX's dividend payout ratio is 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.

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