Integrated Wealth Concepts LLC Reduces Stake in CSX Corporation $CSX

Integrated Wealth Concepts LLC reduced its position in CSX Corporation (NASDAQ:CSX) by 8.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,649 shares of the transportation company’s stock after selling 2,514 shares during the period. Integrated Wealth Concepts LLC’s holdings in CSX were worth $755,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Rossby Financial LCC purchased a new position in CSX in the 1st quarter valued at approximately $28,000. Fourth Dimension Wealth LLC purchased a new position in CSX during the fourth quarter worth $29,000. Barnes Dennig Private Wealth Management LLC purchased a new position in CSX during the first quarter worth $30,000. Kessler Investment Group LLC purchased a new position in CSX during the first quarter worth $32,000. Finally, Cornerstone Planning Group LLC increased its position in CSX by 45.8% during the first quarter. Cornerstone Planning Group LLC now owns 1,414 shares of the transportation company’s stock worth $39,000 after buying an additional 444 shares in the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on CSX. Sanford C. Bernstein reissued a “market perform” rating and set a $36.00 price target (up previously from $33.00) on shares of CSX in a research report on Tuesday, July 8th. Robert W. Baird raised their price target on CSX from $38.00 to $44.00 and gave the stock an “outperform” rating in a research report on Friday, July 25th. BMO Capital Markets downgraded CSX from an “outperform” rating to a “market perform” rating and set a $38.00 price target for the company. in a research report on Monday, August 18th. Barclays raised their price target on CSX from $36.00 to $38.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. Finally, Bank of America raised CSX from a “neutral” rating to a “buy” rating and raised their price target for the stock from $34.00 to $42.00 in a research report on Thursday, July 17th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, CSX presently has an average rating of “Moderate Buy” and a consensus target price of $37.00.

CSX Price Performance

Shares of CSX stock opened at $32.47 on Friday. CSX Corporation has a twelve month low of $26.22 and a twelve month high of $37.25. The stock has a market capitalization of $60.53 billion, a P/E ratio of 20.04, a PEG ratio of 2.45 and a beta of 1.25. The company has a current ratio of 0.77, a quick ratio of 0.63 and a debt-to-equity ratio of 1.50. The business’s fifty day moving average price is $34.26 and its 200 day moving average price is $31.64.

CSX (NASDAQ:CSX) last issued its earnings results on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.02. CSX had a return on equity of 25.48% and a net margin of 21.92%.The firm had revenue of $3.57 billion for the quarter, compared to analysts’ expectations of $3.57 billion. During the same quarter last year, the firm earned $0.49 earnings per share. The firm’s revenue for the quarter was down 3.5% compared to the same quarter last year. As a group, research analysts anticipate that CSX Corporation will post 1.83 earnings per share for the current year.

CSX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be issued a $0.13 dividend. The ex-dividend date is Friday, August 29th. This represents a $0.52 dividend on an annualized basis and a yield of 1.6%. CSX’s dividend payout ratio (DPR) is presently 32.10%.

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.