Mawer Investment Management Ltd. increased its stake in shares of CSX Co. (NASDAQ:CSX) by 5.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,528,205 shares of the transportation company’s stock after purchasing an additional 135,625 shares during the quarter. Mawer Investment Management Ltd. owned 0.32% of CSX worth $195,607,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CSX. Mid Atlantic Financial Management Inc. ADV boosted its holdings in CSX by 117.4% during the 2nd quarter. Mid Atlantic Financial Management Inc. ADV now owns 9,850 shares of the transportation company’s stock valued at $762,000 after acquiring an additional 5,319 shares during the period. Beaumont Financial Partners LLC purchased a new position in CSX during the 2nd quarter valued at $222,000. H D Vest Advisory Services lifted its holdings in shares of CSX by 36.9% in the 2nd quarter. H D Vest Advisory Services now owns 14,500 shares of the transportation company’s stock worth $1,122,000 after buying an additional 3,907 shares during the period. Guyasuta Investment Advisors Inc. purchased a new stake in shares of CSX in the 2nd quarter worth $282,000. Finally, Mycio Wealth Partners LLC lifted its holdings in shares of CSX by 2.2% in the 2nd quarter. Mycio Wealth Partners LLC now owns 9,135 shares of the transportation company’s stock worth $707,000 after buying an additional 200 shares during the period. 75.63% of the stock is currently owned by hedge funds and other institutional investors.
Shares of CSX traded down $1.32 during trading hours on Friday, hitting $64.82. The company had a trading volume of 243,883 shares, compared to its average volume of 5,281,558. The company has a market capitalization of $51.71 billion, a PE ratio of 16.89, a price-to-earnings-growth ratio of 1.13 and a beta of 1.21. The company has a current ratio of 1.55, a quick ratio of 1.44 and a debt-to-equity ratio of 1.26. CSX Co. has a one year low of $58.47 and a one year high of $80.73. The company’s fifty day moving average price is $70.38 and its two-hundred day moving average price is $74.12.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend is Thursday, August 29th. CSX’s dividend payout ratio is currently 25.00%.
CSX has been the subject of several research reports. BidaskClub cut CSX from a “sell” rating to a “strong sell” rating in a report on Saturday, July 27th. Raymond James lowered their target price on CSX from $84.00 to $81.00 and set an “outperform” rating for the company in a report on Wednesday, July 17th. Loop Capital cut CSX from a “buy” rating to a “hold” rating and lowered their target price for the stock from $85.00 to $81.00 in a report on Wednesday, July 10th. Cascend Securities cut CSX from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, Goldman Sachs Group initiated coverage on CSX in a report on Wednesday, July 10th. They issued a “neutral” rating and a $86.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $78.13.
In related news, EVP Nathan D. Goldman sold 7,000 shares of the company’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $79.50, for a total transaction of $556,500.00. Following the transaction, the executive vice president now directly owns 79,697 shares of the company’s stock, valued at approximately $6,335,911.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 4.83% of the company’s stock.
CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services, as well as transports intermodal containers and trailers. It transports chemicals, automotive, agricultural and food products, minerals, fertilizers, forest products, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.
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