Envestnet Portfolio Solutions Inc. Sells 3,159 Shares of CSX Co. (NASDAQ:CSX)

Envestnet Portfolio Solutions Inc. decreased its position in shares of CSX Co. (NASDAQ:CSX) by 2.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 114,743 shares of the transportation company’s stock after selling 3,159 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in CSX were worth $3,838,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Miracle Mile Advisors LLC grew its holdings in CSX by 0.3% in the first quarter. Miracle Mile Advisors LLC now owns 103,563 shares of the transportation company’s stock worth $3,839,000 after purchasing an additional 303 shares during the last quarter. Team Hewins LLC increased its holdings in CSX by 1.7% in the 1st quarter. Team Hewins LLC now owns 18,778 shares of the transportation company’s stock worth $696,000 after buying an additional 306 shares during the period. FCA Corp TX raised its position in CSX by 0.3% during the 4th quarter. FCA Corp TX now owns 115,572 shares of the transportation company’s stock worth $4,007,000 after buying an additional 339 shares during the last quarter. Appleton Partners Inc. MA lifted its stake in CSX by 1.8% during the 2nd quarter. Appleton Partners Inc. MA now owns 18,748 shares of the transportation company’s stock valued at $627,000 after acquiring an additional 339 shares during the period. Finally, First Commonwealth Financial Corp PA boosted its holdings in shares of CSX by 2.0% in the 1st quarter. First Commonwealth Financial Corp PA now owns 18,035 shares of the transportation company’s stock valued at $669,000 after acquiring an additional 347 shares during the last quarter. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CSX shares. Evercore ISI upgraded CSX to a “strong-buy” rating in a research report on Tuesday, August 6th. BMO Capital Markets reaffirmed an “outperform” rating and set a $40.00 price target on shares of CSX in a research note on Tuesday, August 6th. Jefferies Financial Group cut their price objective on CSX from $40.00 to $38.00 and set a “hold” rating on the stock in a research report on Thursday, April 18th. JPMorgan Chase & Co. increased their target price on CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a report on Tuesday, August 6th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $36.00 price target on shares of CSX in a research note on Tuesday, August 6th. Seven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $38.80.

CSX Stock Up 1.0 %

Shares of CSX stock traded up $0.33 during trading hours on Thursday, reaching $33.69. 5,339,267 shares of the company were exchanged, compared to its average volume of 11,780,430. CSX Co. has a 1 year low of $29.03 and a 1 year high of $40.12. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.00 and a current ratio of 1.15. The firm has a market cap of $65.86 billion, a PE ratio of 18.33, a PEG ratio of 1.89 and a beta of 1.20. The stock’s fifty day moving average is $33.60 and its 200 day moving average is $34.98.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Monday, August 5th. The transportation company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.01. The business had revenue of $3.70 billion during the quarter, compared to analyst estimates of $3.70 billion. CSX had a return on equity of 29.58% and a net margin of 24.75%. The firm’s revenue was up .0% on a year-over-year basis. During the same period in the previous year, the company earned $0.49 EPS. As a group, equities research analysts forecast that CSX Co. will post 1.94 earnings per share for the current year.

CSX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders 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 1.42%. CSX’s dividend payout ratio (DPR) is presently 26.37%.

About CSX

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.