SkyOak Wealth LLC Trims Stake in CSX Co. (NASDAQ:CSX)

SkyOak Wealth LLC lowered its position in CSX Co. (NASDAQ:CSX) by 9.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 26,753 shares of the transportation company’s stock after selling 2,847 shares during the quarter. SkyOak Wealth LLC’s holdings in CSX were worth $895,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Gilbert & Cook Inc. increased its holdings in shares of CSX by 4.4% in the 4th quarter. Gilbert & Cook Inc. now owns 19,037 shares of the transportation company’s stock worth $660,000 after buying an additional 798 shares during the last quarter. 9258 Wealth Management LLC increased its stake in CSX by 8.0% in the fourth quarter. 9258 Wealth Management LLC now owns 12,184 shares of the transportation company’s stock valued at $422,000 after acquiring an additional 900 shares during the last quarter. Gryphon Financial Partners LLC raised its position in CSX by 7.5% during the fourth quarter. Gryphon Financial Partners LLC now owns 20,416 shares of the transportation company’s stock valued at $693,000 after purchasing an additional 1,422 shares in the last quarter. Brown Advisory Inc. lifted its stake in CSX by 5.2% during the fourth quarter. Brown Advisory Inc. now owns 372,586 shares of the transportation company’s stock worth $12,918,000 after purchasing an additional 18,319 shares during the last quarter. Finally, Coldstream Capital Management Inc. boosted its holdings in shares of CSX by 5.4% in the 4th quarter. Coldstream Capital Management Inc. now owns 40,101 shares of the transportation company’s stock worth $1,390,000 after purchasing an additional 2,066 shares in the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Price Performance

Shares of CSX stock opened at $34.07 on Wednesday. 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 cap of $66.60 billion, a P/E ratio of 18.72, a P/E/G ratio of 1.77 and a beta of 1.19. The business’s 50 day moving average price is $33.95 and its 200-day moving average price is $34.42.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Monday, August 5th. The transportation company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. CSX had a net margin of 24.52% and a return on equity of 29.11%. The business had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.70 billion. During the same period in the previous year, the firm earned $0.49 EPS. The company’s quarterly revenue was up .0% compared to the same quarter last year. On average, equities research analysts anticipate that CSX Co. will post 1.93 earnings per share for the current year.

CSX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a $0.12 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.48 annualized dividend and a yield of 1.41%. CSX’s dividend payout ratio (DPR) is presently 26.37%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on CSX shares. Wells Fargo & Company initiated coverage on CSX in a report on Friday, June 7th. They set an “equal weight” rating and a $35.00 price objective on the stock. Sanford C. Bernstein boosted their price objective 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. JPMorgan Chase & Co. increased their target price on shares of CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a report on Tuesday, August 6th. Bank of America downgraded shares of CSX from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a research note on Monday, July 8th. Finally, Benchmark reaffirmed a “buy” rating and set a $40.00 price objective on shares of CSX in a research note on Wednesday, August 7th. Seven analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, CSX presently has an average rating of “Moderate Buy” and a consensus price target 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.