Silver Oak Securities Incorporated Has $563,000 Position in CSX Co. (NASDAQ:CSX)

Silver Oak Securities Incorporated trimmed its position in shares of CSX Co. (NASDAQ:CSX) by 3.4% during the third quarter, HoldingsChannel.com reports. The firm owned 16,297 shares of the transportation company’s stock after selling 578 shares during the period. Silver Oak Securities Incorporated’s holdings in CSX were worth $563,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its position 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 worth $2,418,883,000 after buying an additional 443,755 shares during the period. Bank of New York Mellon Corp raised its stake in shares of CSX by 6.6% during the second quarter. Bank of New York Mellon Corp now owns 17,133,857 shares of the transportation company’s stock valued at $573,128,000 after acquiring an additional 1,060,204 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of CSX by 9.3% during the second quarter. Dimensional Fund Advisors LP now owns 12,421,862 shares of the transportation company’s stock worth $415,466,000 after purchasing an additional 1,060,617 shares during the period. Bank of Montreal Can grew its stake in shares of CSX by 38.7% in the second quarter. Bank of Montreal Can now owns 6,749,827 shares of the transportation company’s stock worth $225,917,000 after purchasing an additional 1,884,998 shares during the last quarter. Finally, Interval Partners LP increased its holdings in CSX by 849.0% in the second quarter. Interval Partners LP now owns 5,118,751 shares of the transportation company’s stock valued at $171,222,000 after purchasing an additional 4,579,344 shares during the period. 73.57% of the stock is currently owned by institutional investors.

CSX Stock Performance

Shares of CSX stock opened at $33.27 on Friday. The business has a 50-day simple moving average of $34.03 and a 200 day simple moving average of $33.87. The firm has a market capitalization of $65.04 billion, a price-to-earnings ratio of 18.28, a PEG ratio of 1.90 and a beta of 1.19. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.16 and a quick ratio of 1.01. CSX Co. has a one year low of $29.03 and a one year high of $40.12.

CSX (NASDAQ:CSX) last issued its 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). CSX had a return on equity of 29.11% and a net margin of 24.52%. The firm had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.68 billion. During the same period in the previous year, the company earned $0.42 earnings per share. CSX’s revenue for the quarter was up 1.3% compared to the same quarter last year. On average, research analysts anticipate that CSX Co. will post 1.93 earnings per share for the current fiscal year.

CSX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders 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 1.44%. The ex-dividend date of this dividend is Friday, November 29th. CSX’s dividend payout ratio (DPR) is 26.37%.

Wall Street Analyst Weigh In

Several brokerages have commented on CSX. Royal Bank of Canada cut their target price on CSX from $36.00 to $35.00 and set a “sector perform” rating on the stock in a report on Thursday, October 17th. JPMorgan Chase & Co. lifted their price objective on CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 6th. Susquehanna decreased their target price on shares of CSX from $42.00 to $40.00 and set a “positive” rating for the company in a research report on Thursday, October 17th. Evercore ISI lowered their price target on shares of CSX from $38.00 to $37.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Finally, TD Cowen reduced their price objective on shares of CSX from $36.00 to $35.00 and set a “hold” rating on the stock in a research note on Thursday, October 17th. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, CSX currently has an average rating of “Moderate Buy” and a consensus price target of $38.61.

CSX 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.