Nations Financial Group Inc. IA ADV Reduces Stock Holdings in CSX Co. (NASDAQ:CSX)

Nations Financial Group Inc. IA ADV lessened its stake in shares of CSX Co. (NASDAQ:CSX) by 4.7% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 19,860 shares of the transportation company’s stock after selling 980 shares during the quarter. Nations Financial Group Inc. IA ADV’s holdings in CSX were worth $686,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Interval Partners LP lifted its stake 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 buying an additional 4,579,344 shares during the last quarter. Manning & Napier Advisors LLC purchased a new stake in CSX in the 2nd quarter valued at $116,430,000. M&G Plc acquired a new stake in CSX during the 1st quarter worth $126,089,000. Assenagon Asset Management S.A. grew its position in CSX by 318.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 3,270,966 shares of the transportation company’s stock worth $112,946,000 after purchasing an additional 2,489,329 shares during the last quarter. Finally, Wulff Hansen & CO. increased its stake in CSX by 3,243.0% in the second quarter. Wulff Hansen & CO. now owns 2,192,246 shares of the transportation company’s stock valued at $73,331,000 after purchasing an additional 2,126,668 shares during the period. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Stock Performance

NASDAQ CSX opened at $36.48 on Thursday. The business has a 50 day moving average price of $34.22 and a 200 day moving average price of $33.85. The company has a market capitalization of $70.35 billion, a P/E ratio of 19.61, a PEG ratio of 2.29 and a beta of 1.19. CSX Co. has a 1-year low of $30.86 and a 1-year high of $40.12. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.39 and a quick ratio of 1.23.

CSX (NASDAQ:CSX) last announced 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). CSX had a net margin of 24.77% and a return on equity of 28.92%. The firm had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.68 billion. During the same quarter in the prior year, the business earned $0.42 EPS. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. Sell-side analysts expect that CSX Co. will post 1.84 EPS for the current fiscal year.

CSX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.32%. The ex-dividend date of this dividend is Friday, November 29th. CSX’s dividend payout ratio (DPR) is presently 25.81%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CSX. 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 note on Thursday, October 17th. TD Cowen lowered their target price on CSX from $36.00 to $35.00 and set a “hold” rating on the stock in a research note on Thursday, October 17th. JPMorgan Chase & Co. upped their price target on CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 6th. Wells Fargo & Company lowered their price objective on shares of CSX from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 17th. Finally, Evercore ISI cut their price objective on shares of CSX from $38.00 to $37.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, CSX presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.78.

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.