STF Management LP Reduces Holdings in CSX Co. (NASDAQ:CSX)

STF Management LP decreased its position in shares of CSX Co. (NASDAQ:CSX) by 4.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 31,210 shares of the transportation company’s stock after selling 1,576 shares during the quarter. STF Management LP’s holdings in CSX were worth $1,044,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CSX. MFA Wealth Advisors LLC purchased a new position in shares of CSX during the second quarter worth about $27,000. Financial Synergies Wealth Advisors Inc. purchased a new position in shares of CSX during the first quarter worth about $29,000. Strategic Financial Concepts LLC purchased a new position in shares of CSX during the second quarter worth about $33,000. Burkett Financial Services LLC purchased a new position in shares of CSX during the fourth quarter worth about $34,000. Finally, Tortoise Investment Management LLC purchased a new position in shares of CSX during the fourth quarter worth about $35,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Stock Performance

Shares of NASDAQ:CSX opened at $33.52 on Monday. The firm has a market capitalization of $65.53 billion, a PE ratio of 18.42, a P/E/G ratio of 1.77 and a beta of 1.19. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.16 and a quick ratio of 1.01. The business has a 50-day moving average of $33.91 and a two-hundred day moving average of $34.48. CSX Co. has a 12 month low of $29.03 and a 12 month high of $40.12.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Monday, August 5th. The transportation company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.48 by $0.01. The company had revenue of $3.70 billion during the quarter, compared to analyst estimates of $3.70 billion. CSX had a return on equity of 29.11% and a net margin of 24.52%. The firm’s revenue was up .0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.49 earnings per share. As a group, research analysts forecast that CSX Co. will post 1.93 earnings per share for the current year.

CSX Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.48 annualized dividend and a yield of 1.43%. CSX’s dividend payout ratio is presently 26.37%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CSX. Susquehanna raised their price target on CSX from $40.00 to $41.00 and gave the stock a “positive” rating in a report on Wednesday, August 7th. Wells Fargo & Company initiated coverage on CSX in a research report on Friday, June 7th. They set an “equal weight” rating and a $35.00 target price on the stock. Benchmark reissued a “buy” rating and issued a $40.00 price target on shares of CSX in a report on Wednesday, August 7th. Bank of America downgraded CSX from a “buy” rating to a “neutral” rating and set a $37.00 price target on the stock. in a research note on Monday, July 8th. Finally, JPMorgan Chase & Co. boosted their target price 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. 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $38.80.

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.