Vista Investment Partners II LLC Lowers Position in CSX Corporation (NASDAQ:CSX)

Vista Investment Partners II LLC reduced its stake in CSX Corporation (NASDAQ:CSX) by 9.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 13,510 shares of the transportation company’s stock after selling 1,348 shares during the quarter. Vista Investment Partners II LLC’s holdings in CSX were worth $398,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Wellington Management Group LLP grew its stake in CSX by 14.7% in the 4th quarter. Wellington Management Group LLP now owns 117,579 shares of the transportation company’s stock valued at $3,794,000 after purchasing an additional 15,029 shares during the period. CWA Asset Management Group LLC grew its stake in CSX by 15.1% in the 1st quarter. CWA Asset Management Group LLC now owns 12,514 shares of the transportation company’s stock valued at $368,000 after purchasing an additional 1,642 shares during the period. Dynamic Advisor Solutions LLC grew its stake in CSX by 9.8% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 38,757 shares of the transportation company’s stock valued at $1,141,000 after purchasing an additional 3,458 shares during the period. Farther Finance Advisors LLC grew its stake in CSX by 61.4% in the 1st quarter. Farther Finance Advisors LLC now owns 14,154 shares of the transportation company’s stock valued at $418,000 after purchasing an additional 5,382 shares during the period. Finally, Cercano Management LLC bought a new position in CSX in the 4th quarter valued at $4,869,000. 73.57% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Stifel Nicolaus reduced their price objective on CSX from $37.00 to $34.00 and set a “buy” rating for the company in a research note on Monday, April 14th. BMO Capital Markets reduced their price objective on CSX from $36.00 to $35.00 and set an “outperform” rating for the company in a research note on Thursday, April 17th. The Goldman Sachs Group restated a “neutral” rating and issued a $35.00 price objective on shares of CSX in a research note on Monday, June 2nd. Susquehanna restated a “neutral” rating and issued a $35.00 price objective on shares of CSX in a research note on Tuesday. Finally, UBS Group cut their price target on CSX from $36.00 to $34.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. Nine analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $34.14.

CSX Stock Up 1.0%

Shares of NASDAQ CSX opened at $32.91 on Friday. CSX Corporation has a 52 week low of $26.22 and a 52 week high of $37.10. The business has a 50-day simple moving average of $30.64 and a two-hundred day simple moving average of $31.06. The company has a quick ratio of 0.75, a current ratio of 0.88 and a debt-to-equity ratio of 1.52. The company has a market cap of $61.82 billion, a P/E ratio of 19.71, a P/E/G ratio of 2.85 and a beta of 1.24.

CSX (NASDAQ:CSX) last issued its earnings results on Wednesday, April 16th. The transportation company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.05). CSX had a return on equity of 26.42% and a net margin of 22.66%. The company had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.53 billion. Research analysts anticipate that CSX Corporation will post 1.83 earnings per share for the current fiscal year.

CSX Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were paid a $0.13 dividend. The ex-dividend date was Friday, May 30th. This represents a $0.52 annualized dividend and a yield of 1.58%. CSX’s dividend payout ratio is currently 31.14%.

CSX Company 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.