Highland Capital Management LLC Sells 5,752 Shares of CSX Co. (NASDAQ:CSX)

Highland Capital Management LLC trimmed its stake in CSX Co. (NASDAQ:CSXGet Rating) by 4.3% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 127,673 shares of the transportation company’s stock after selling 5,752 shares during the period. Highland Capital Management LLC’s holdings in CSX were worth $3,710,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. increased its position in CSX by 80.2% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 811 shares of the transportation company’s stock worth $30,000 after buying an additional 361 shares during the period. Core Alternative Capital increased its position in CSX by 663.9% in the 1st quarter. Core Alternative Capital now owns 825 shares of the transportation company’s stock worth $31,000 after buying an additional 717 shares during the period. Bank of New Hampshire bought a new position in CSX in the 1st quarter worth approximately $34,000. Marshall & Sullivan Inc. WA bought a new position in CSX in the 2nd quarter worth approximately $34,000. Finally, Rational Advisors LLC bought a new position in CSX in the 1st quarter worth approximately $36,000. 73.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CSX has been the topic of several recent analyst reports. Raymond James dropped their price target on CSX from $40.00 to $35.00 and set an “outperform” rating on the stock in a research report on Friday, July 8th. StockNews.com raised CSX from a “hold” rating to a “buy” rating in a report on Saturday, July 30th. Loop Capital raised CSX from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a report on Thursday, July 21st. Susquehanna decreased their price objective on CSX from $36.00 to $35.00 in a report on Thursday, July 21st. Finally, Stephens lifted their price objective on CSX from $34.00 to $35.00 and gave the stock an “overweight” rating in a report on Thursday, July 21st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $36.42.

CSX Trading Down 2.0 %

CSX stock opened at $28.57 on Friday. The company has a market cap of $61.18 billion, a P/E ratio of 16.05, a PEG ratio of 1.60 and a beta of 1.21. CSX Co. has a twelve month low of $27.59 and a twelve month high of $38.63. The company has a quick ratio of 1.01, a current ratio of 1.16 and a debt-to-equity ratio of 1.22. The business has a fifty day moving average of $31.96 and a 200-day moving average of $32.57.

CSX (NASDAQ:CSXGet Rating) last released its earnings results on Wednesday, July 20th. The transportation company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.03. The company had revenue of $3.82 billion during the quarter, compared to the consensus estimate of $3.67 billion. CSX had a return on equity of 29.07% and a net margin of 28.24%. The firm’s quarterly revenue was up 27.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.40 earnings per share. As a group, equities research analysts expect that CSX Co. will post 1.89 EPS for the current year.

CSX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.40%. CSX’s payout ratio is currently 22.47%.

CSX Company Profile

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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 transports chemicals, agricultural and food products, automotive, minerals, 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.

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Institutional Ownership by Quarter for CSX (NASDAQ:CSX)

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