Crossmark Global Holdings Inc. Cuts Stock Holdings in CSX Co. (NASDAQ:CSX)

Crossmark Global Holdings Inc. reduced its position in shares of CSX Co. (NASDAQ:CSX) by 17.6% during the second quarter, Holdings Channel reports. The firm owned 283,405 shares of the transportation company’s stock after selling 60,645 shares during the period. Crossmark Global Holdings Inc.’s holdings in CSX were worth $9,480,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. MFA Wealth Advisors LLC bought a new stake in shares of CSX during the 2nd quarter worth $27,000. Financial Synergies Wealth Advisors Inc. bought a new stake in CSX in the first quarter worth about $29,000. Burkett Financial Services LLC bought a new stake in CSX in the fourth quarter worth about $34,000. Tortoise Investment Management LLC bought a new position in shares of CSX during the 4th quarter valued at approximately $35,000. Finally, Valued Wealth Advisors LLC increased its stake in shares of CSX by 172.7% during the 1st quarter. Valued Wealth Advisors LLC now owns 938 shares of the transportation company’s stock worth $35,000 after purchasing an additional 594 shares during the last quarter. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CSX has been the topic of several research analyst reports. Wells Fargo & Company initiated coverage on CSX in a research note on Friday, June 7th. They issued an “equal weight” rating and a $35.00 price objective on the stock. Stephens reaffirmed an “overweight” rating and set a $42.00 price target on shares of CSX in a research report on Tuesday, August 6th. Bank of America lowered CSX from a “buy” rating to a “neutral” rating and set a $37.00 price objective for the company. in a report on Monday, July 8th. Royal Bank of Canada restated a “sector perform” rating and issued a $36.00 price objective on shares of CSX in a research note on Tuesday, August 6th. Finally, Evercore ISI upgraded shares of CSX to a “strong-buy” rating in a research report on Tuesday, August 6th. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $38.80.

CSX Price Performance

Shares of CSX traded up $0.45 during mid-day trading on Friday, reaching $34.27. 9,044,144 shares of the stock traded hands, compared to its average volume of 11,624,629. The company has a market cap of $67.00 billion, a price-to-earnings ratio of 18.83, a price-to-earnings-growth ratio of 1.89 and a beta of 1.20. CSX Co. has a 1 year low of $29.03 and a 1 year high of $40.12. The firm has a fifty day moving average price of $33.79 and a 200 day moving average price of $34.77. The company has a current ratio of 1.15, a quick ratio of 1.00 and a debt-to-equity ratio of 1.42.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Monday, August 5th. The transportation company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.48 by $0.01. CSX had a return on equity of 29.58% and a net margin of 24.75%. The company had revenue of $3.70 billion during the quarter, compared to analyst estimates of $3.70 billion. During the same quarter in the previous year, the firm earned $0.49 earnings per share. CSX’s revenue was up .0% on a year-over-year basis. As a group, 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. Stockholders 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 dividend yield of 1.40%. CSX’s dividend payout ratio (DPR) is presently 26.37%.

CSX 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.