Gryphon Financial Partners LLC Sells 1,668 Shares of CSX Co. (NASDAQ:CSX)

Gryphon Financial Partners LLC decreased its holdings in CSX Co. (NASDAQ:CSX) by 8.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,492 shares of the transportation company’s stock after selling 1,668 shares during the period. Gryphon Financial Partners LLC’s holdings in CSX were worth $585,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CSX. Norges Bank acquired a new stake in shares of CSX during the 4th quarter worth about $757,276,000. Price T Rowe Associates Inc. MD lifted its position in CSX by 18.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 64,807,961 shares of the transportation company’s stock worth $2,246,893,000 after acquiring an additional 9,914,656 shares during the last quarter. Capital International Investors boosted its holdings in shares of CSX by 14.3% during the fourth quarter. Capital International Investors now owns 40,353,078 shares of the transportation company’s stock worth $1,399,104,000 after acquiring an additional 5,041,679 shares during the period. Manning & Napier Advisors LLC bought a new stake in shares of CSX during the second quarter worth approximately $116,430,000. Finally, M&G Plc acquired a new position in shares of CSX in the first quarter valued at approximately $126,089,000. 73.57% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Susquehanna boosted their price target on CSX from $40.00 to $41.00 and gave the company a “positive” rating in a research note on Wednesday, August 7th. BMO Capital Markets reissued an “outperform” rating and issued a $40.00 target price on shares of CSX in a research report on Tuesday, August 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $36.00 price target on shares of CSX in a research report on Tuesday, August 6th. Sanford C. Bernstein boosted their price objective on shares of CSX from $35.00 to $36.00 and gave the company a “market perform” rating in a report on Monday, July 8th. Finally, Benchmark reiterated a “buy” rating and issued a $40.00 price target on shares of CSX in a research report on Wednesday, August 7th. Seven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $38.80.

CSX Price Performance

CSX stock opened at $33.51 on Wednesday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.01 and a current ratio of 1.16. CSX Co. has a 52 week low of $29.03 and a 52 week high of $40.12. The stock has a market capitalization of $65.51 billion, a P/E ratio of 18.41, a price-to-earnings-growth ratio of 1.78 and a beta of 1.19. The stock has a fifty day moving average of $33.92 and a 200-day moving average of $34.57.

CSX (NASDAQ:CSX) last issued its earnings results on Monday, August 5th. The transportation company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.48 by $0.01. CSX had a return on equity of 29.11% and a net margin of 24.52%. The firm had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.70 billion. During the same quarter in the previous year, the firm earned $0.49 earnings per share. The business’s quarterly revenue was up .0% on a year-over-year basis. On average, sell-side analysts expect that CSX Co. will post 1.94 earnings per share for the current fiscal year.

CSX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend is Friday, August 30th. CSX’s payout ratio is 26.37%.

CSX Company 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.