United Services Automobile Association Sells 2,820 Shares of CSX Co. (NASDAQ:CSX)

United Services Automobile Association reduced its holdings in CSX Co. (NASDAQ:CSX) by 5.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 53,562 shares of the transportation company’s stock after selling 2,820 shares during the quarter. United Services Automobile Association’s holdings in CSX were worth $1,792,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of CSX. Choreo LLC boosted its stake in CSX by 243.9% in the 2nd quarter. Choreo LLC now owns 65,436 shares of the transportation company’s stock worth $2,197,000 after purchasing an additional 46,410 shares during the period. Prudential PLC raised its position in CSX by 41.6% in the 2nd quarter. Prudential PLC now owns 298,637 shares of the transportation company’s stock valued at $9,989,000 after buying an additional 87,779 shares during the last quarter. PFG Investments LLC boosted its holdings in CSX by 3.5% during the second quarter. PFG Investments LLC now owns 19,009 shares of the transportation company’s stock worth $636,000 after purchasing an additional 643 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in CSX during the second quarter valued at approximately $120,000. Finally, Quest Partners LLC grew its stake in CSX by 19.3% in the second quarter. Quest Partners LLC now owns 77,960 shares of the transportation company’s stock valued at $2,608,000 after purchasing an additional 12,599 shares in the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Stephens reiterated an “overweight” rating and set a $42.00 price objective on shares of CSX in a research note on Tuesday, August 6th. Sanford C. Bernstein boosted their target price on shares of CSX from $35.00 to $36.00 and gave the stock a “market perform” rating in a report on Monday, July 8th. Evercore ISI upgraded shares of CSX to a “strong-buy” rating in a research note on Tuesday, August 6th. Wells Fargo & Company initiated coverage on shares of CSX in a research report on Friday, June 7th. They issued an “equal weight” rating and a $35.00 price objective for the company. Finally, Benchmark restated a “buy” rating and set a $40.00 price objective on shares of CSX in a research note on Wednesday, August 7th. Seven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $38.80.

CSX Stock Performance

Shares of NASDAQ:CSX opened at $33.76 on Tuesday. The company has a quick ratio of 1.01, a current ratio of 1.16 and a debt-to-equity ratio of 1.42. CSX Co. has a 12-month low of $29.03 and a 12-month high of $40.12. The company’s 50 day moving average price is $33.92 and its two-hundred day moving average price is $34.60. The firm has a market cap of $66.00 billion, a PE ratio of 18.55, a PEG ratio of 1.78 and a beta of 1.19.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Monday, August 5th. The transportation company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01. The business had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.70 billion. CSX had a return on equity of 29.11% and a net margin of 24.52%. The firm’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.49 earnings per share. Equities research analysts predict that CSX Co. will post 1.94 earnings per share for the current year.

CSX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, August 30th. This represents a $0.48 annualized dividend and a yield of 1.42%. CSX’s dividend payout ratio 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.