Royal Fund Management LLC Has $242,000 Stake in CSX Co. (NASDAQ:CSX)

Royal Fund Management LLC decreased its stake in shares of CSX Co. (NASDAQ:CSX) by 39.6% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 7,226 shares of the transportation company’s stock after selling 4,739 shares during the period. Royal Fund Management LLC’s holdings in CSX were worth $242,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in CSX. Price T Rowe Associates Inc. MD boosted its stake in CSX by 0.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 65,251,716 shares of the transportation company’s stock valued at $2,418,883,000 after purchasing an additional 443,755 shares during the period. Capital International Investors lifted its position in shares of CSX by 14.3% during the 4th quarter. Capital International Investors now owns 40,353,078 shares of the transportation company’s stock worth $1,399,104,000 after buying an additional 5,041,679 shares during the period. Fisher Asset Management LLC increased its holdings in CSX by 2.1% during the 4th quarter. Fisher Asset Management LLC now owns 22,378,276 shares of the transportation company’s stock valued at $775,855,000 after purchasing an additional 470,640 shares in the last quarter. Norges Bank acquired a new stake in CSX during the 4th quarter valued at $757,276,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of CSX by 1.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 11,217,832 shares of the transportation company’s stock worth $388,922,000 after purchasing an additional 135,169 shares in the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on CSX. JPMorgan Chase & Co. raised their target price on shares of CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. Evercore ISI upgraded CSX to a “strong-buy” rating in a report on Tuesday, August 6th. Wells Fargo & Company started coverage on CSX in a research note on Friday, June 7th. They issued an “equal weight” rating and a $35.00 price target for the company. Royal Bank of Canada restated a “sector perform” rating and set a $36.00 price objective on shares of CSX in a report on Tuesday, August 6th. Finally, Sanford C. Bernstein increased their target price on shares of CSX from $35.00 to $36.00 and gave the stock a “market perform” rating in a report on Monday, July 8th. Seven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $38.80.

CSX Stock Performance

NASDAQ CSX traded down $0.21 on Friday, reaching $33.42. The stock had a trading volume of 9,870,518 shares, compared to its average volume of 11,812,768. 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 current ratio of 1.15 and a quick ratio of 1.00. The company has a market cap of $65.33 billion, a P/E ratio of 18.36, a price-to-earnings-growth ratio of 1.89 and a beta of 1.20. The firm has a fifty day moving average of $33.63 and a two-hundred day moving average of $34.96.

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

CSX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date is Friday, August 30th. CSX’s dividend payout ratio is currently 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.