Brookstone Capital Management Lowers Stock Position in CSX Co. (NASDAQ:CSX)

Brookstone Capital Management trimmed its position in CSX Co. (NASDAQ:CSX) by 4.0% in the 3rd quarter, HoldingsChannel reports. The fund owned 26,206 shares of the transportation company’s stock after selling 1,098 shares during the quarter. Brookstone Capital Management’s holdings in CSX were worth $905,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Voisard Asset Management Group Inc. bought a new stake in shares of CSX during the 4th quarter valued at $39,000. Chicago Partners Investment Group LLC raised its holdings in CSX by 11.3% during the fourth quarter. Chicago Partners Investment Group LLC now owns 10,611 shares of the transportation company’s stock valued at $365,000 after acquiring an additional 1,076 shares during the period. Syon Capital LLC lifted its position in shares of CSX by 8.7% in the fourth quarter. Syon Capital LLC now owns 23,505 shares of the transportation company’s stock valued at $815,000 after acquiring an additional 1,875 shares in the last quarter. Tortoise Investment Management LLC bought a new position in shares of CSX in the fourth quarter worth about $35,000. Finally, Fortis Group Advisors LLC grew its position in shares of CSX by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 6,030 shares of the transportation company’s stock worth $209,000 after purchasing an additional 3,015 shares in the last quarter. Institutional investors own 73.57% of the company’s stock.

Analyst Ratings Changes

CSX has been the topic of a number of research analyst reports. BMO Capital Markets reissued an “outperform” rating and issued a $40.00 price target on shares of CSX in a report on Tuesday, August 6th. Barclays lowered their target price on shares of CSX from $41.00 to $40.00 and set an “overweight” rating on the stock in a report on Wednesday, September 25th. Susquehanna raised their target price on shares of CSX from $41.00 to $42.00 and gave the company a “positive” rating in a research note on Wednesday, October 2nd. Stephens reiterated an “overweight” rating and issued a $42.00 price target on shares of CSX in a research note on Tuesday, August 6th. Finally, Sanford C. Bernstein raised their price objective on CSX from $35.00 to $36.00 and gave the company a “market perform” rating in a research report on Monday, July 8th. Seven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $39.19.

CSX Trading Up 1.2 %

Shares of CSX opened at $34.96 on Friday. CSX Co. has a twelve month low of $29.03 and a twelve month high of $40.12. The company has a current ratio of 1.16, a quick ratio of 1.01 and a debt-to-equity ratio of 1.42. The company’s fifty day simple moving average is $33.93 and its 200-day simple moving average is $34.03. The company has a market cap of $68.34 billion, a P/E ratio of 19.21, a P/E/G ratio of 1.90 and a beta of 1.19.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Monday, August 5th. The transportation company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.01. The business had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.70 billion. CSX had a net margin of 24.52% and a return on equity of 29.11%. The firm’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.49 earnings per share. As a group, analysts expect that CSX Co. will post 1.93 EPS for the current year.

CSX Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Friday, November 29th. This represents a $0.48 dividend on an annualized basis and a yield of 1.37%. CSX’s payout ratio is 26.37%.

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.