Apollon Wealth Management LLC Sells 2,052 Shares of CSX Co. (NASDAQ:CSX)

Apollon Wealth Management LLC lowered its position in CSX Co. (NASDAQ:CSX) by 3.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 52,994 shares of the transportation company’s stock after selling 2,052 shares during the period. Apollon Wealth Management LLC’s holdings in CSX were worth $1,830,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Versor Investments LP raised its stake in CSX by 30.8% during the third quarter. Versor Investments LP now owns 21,472 shares of the transportation company’s stock valued at $741,000 after buying an additional 5,054 shares during the last quarter. Addison Advisors LLC raised its stake in CSX by 348.5% during the third quarter. Addison Advisors LLC now owns 1,045 shares of the transportation company’s stock valued at $36,000 after buying an additional 812 shares during the last quarter. Kennebec Savings Bank purchased a new position in CSX during the third quarter valued at $67,000. Ashton Thomas Securities LLC purchased a new position in shares of CSX in the third quarter worth $83,000. Finally, Los Angeles Capital Management LLC raised its stake in shares of CSX by 346.0% in the third quarter. Los Angeles Capital Management LLC now owns 43,802 shares of the transportation company’s stock worth $1,512,000 after purchasing an additional 33,980 shares during the last quarter. Institutional investors own 73.57% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on CSX shares. TD Cowen cut their price objective on CSX from $36.00 to $35.00 and set a “hold” rating for the company in a report on Thursday, October 17th. Stifel Nicolaus decreased their target price on CSX from $39.00 to $37.00 and set a “buy” rating on the stock in a research report on Thursday, October 17th. Loop Capital decreased their target price on CSX from $43.00 to $42.00 and set a “buy” rating on the stock in a research report on Thursday, October 17th. JPMorgan Chase & Co. upped their price objective on CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a research report on Tuesday, August 6th. Finally, Barclays increased their price target on CSX from $40.00 to $41.00 and gave the stock an “overweight” rating in a report on Wednesday. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $38.78.

CSX Stock Performance

NASDAQ:CSX opened at $36.48 on Thursday. The company has a quick ratio of 1.23, a current ratio of 1.39 and a debt-to-equity ratio of 1.43. The company has a market cap of $70.35 billion, a P/E ratio of 19.61, a P/E/G ratio of 2.29 and a beta of 1.19. CSX Co. has a fifty-two week low of $30.86 and a fifty-two week high of $40.12. The firm’s 50 day moving average is $34.22 and its two-hundred day moving average is $33.85.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Wednesday, October 16th. The transportation company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). The company had revenue of $3.62 billion for the quarter, compared to analysts’ expectations of $3.68 billion. CSX had a return on equity of 28.92% and a net margin of 24.77%. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.42 EPS. Analysts expect that CSX Co. will post 1.84 EPS for the current year.

CSX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date is Friday, November 29th. CSX’s dividend payout ratio is presently 25.81%.

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.