Everence Capital Management Inc. Lowers Position in CSX Co. (NASDAQ:CSX)

by · The Markets Daily

Everence Capital Management Inc. cut its stake in CSX Co. (NASDAQ:CSX – Free Report) by 20.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 50,801 shares of the transportation company’s stock after selling 13,160 shares during the period. Everence Capital Management Inc.’s holdings in CSX were worth $1,754,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. bought a new position in shares of CSX during the 2nd quarter valued at $26,000. Financial Synergies Wealth Advisors Inc. purchased a new stake in CSX during the first quarter valued at about $29,000. MFA Wealth Advisors LLC bought a new position in shares of CSX during the second quarter valued at about $27,000. Fairscale Capital LLC purchased a new position in shares of CSX in the second quarter worth about $32,000. Finally, Valued Wealth Advisors LLC lifted its stake in shares of CSX by 172.7% in the 1st quarter. Valued Wealth Advisors LLC now owns 938 shares of the transportation company’s stock valued at $35,000 after acquiring an additional 594 shares during the last quarter. Institutional investors own 73.57% of the company’s stock.

CSX Stock Down 0.8 %

CSX traded down $0.27 during midday trading on Monday, reaching $33.85. The company’s stock had a trading volume of 3,550,738 shares, compared to its average volume of 11,590,762. The stock’s 50-day moving average is $34.02 and its 200-day moving average is $33.93. CSX Co. has a 1 year low of $29.03 and a 1 year high of $40.12. The firm has a market capitalization of $66.17 billion, a price-to-earnings ratio of 18.75, a PEG ratio of 1.90 and a beta of 1.19. The company has a current ratio of 1.16, a quick ratio of 1.01 and a debt-to-equity ratio of 1.42.

CSX (NASDAQ:CSX – Get Free Report) last announced its quarterly earnings results on Wednesday, October 16th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). The firm had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.68 billion. CSX had a return on equity of 29.11% and a net margin of 24.52%. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.42 EPS. As a group, research analysts expect that CSX Co. will post 1.93 EPS for the current year.

CSX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend is Friday, November 29th. CSX’s payout ratio is currently 26.37%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CSX. Stephens lowered their price objective on CSX from $41.00 to $39.00 and set an “overweight” rating for the company in a research report on Thursday. Stifel Nicolaus dropped their price target on shares of CSX from $39.00 to $37.00 and set a “buy” rating for the company in a research report on Thursday. BMO Capital Markets cut their price target on shares of CSX from $40.00 to $39.00 and set an “outperform” rating on the stock in a report on Thursday. Evercore ISI lowered their price objective on shares of CSX from $38.00 to $37.00 and set an “outperform” rating for the company in a research note on Thursday. Finally, Barclays cut their target price on CSX from $41.00 to $40.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 25th. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $38.61.

View Our Latest Stock Analysis on CSX

About CSX

(Free Report)

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.

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