Earnest Partners LLC Purchases 5,479 Shares of CSX Co. (NASDAQ:CSX)

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Earnest Partners LLC grew its position in shares of CSX Co. (NASDAQ:CSX) by 1.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 576,396 shares of the transportation company’s stock after acquiring an additional 5,479 shares during the quarter. Earnest Partners LLC owned about 0.07% of CSX worth $44,596,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Patriot Financial Group Insurance Agency LLC boosted its position in shares of CSX by 25.6% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 3,347 shares of the transportation company’s stock valued at $262,000 after buying an additional 683 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of CSX by 1.7% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 90,140 shares of the transportation company’s stock valued at $6,744,000 after buying an additional 1,493 shares during the last quarter. EdgePoint Investment Group Inc. boosted its position in shares of CSX by 6.8% during the second quarter. EdgePoint Investment Group Inc. now owns 10,698,067 shares of the transportation company’s stock valued at $827,709,000 after buying an additional 685,637 shares during the last quarter. First Command Financial Services Inc. boosted its position in shares of CSX by 38.5% during the second quarter. First Command Financial Services Inc. now owns 2,931 shares of the transportation company’s stock valued at $227,000 after buying an additional 814 shares during the last quarter. Finally, Graves Light Private Wealth Management Inc. boosted its position in shares of CSX by 173.5% during the second quarter. Graves Light Private Wealth Management Inc. now owns 8,167 shares of the transportation company’s stock valued at $632,000 after buying an additional 5,181 shares during the last quarter. Hedge funds and other institutional investors own 75.75% of the company’s stock.

Shares of NASDAQ CSX traded up $0.92 during trading on Friday, reaching $72.47. 4,065,880 shares of the stock traded hands, compared to its average volume of 4,425,155. CSX Co. has a 52-week low of $58.47 and a 52-week high of $80.73. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.55 and a quick ratio of 1.44. The company has a 50-day moving average of $66.97 and a 200-day moving average of $73.75. The stock has a market capitalization of $57.84 billion, a P/E ratio of 18.87, a price-to-earnings-growth ratio of 1.32 and a beta of 1.23.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Tuesday, July 16th. The transportation company reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.03). CSX had a net margin of 27.87% and a return on equity of 26.96%. The firm had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.14 billion. During the same period in the prior year, the company earned $1.01 EPS. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. Analysts expect that CSX Co. will post 4.14 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.32%. CSX’s dividend payout ratio is presently 25.00%.

CSX has been the topic of several analyst reports. Stephens cut CSX from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $86.00 to $79.00 in a research report on Wednesday, July 17th. Cascend Securities cut CSX from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Royal Bank of Canada cut their price objective on CSX to $75.00 and set a “sector perform” rating on the stock in a research report on Wednesday, July 17th. Raymond James cut their price objective on CSX from $84.00 to $81.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 17th. Finally, Credit Suisse Group cut their price objective on CSX from $92.00 to $86.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 17th. Two analysts have rated the stock with a sell rating, sixteen have given a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $78.13.

CSX Company Profile

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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Institutional Ownership by Quarter for CSX (NASDAQ:CSX)

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