CSX Co. (NASDAQ:CSX) Shares Sold by CX Institutional

CX Institutional trimmed its stake in CSX Co. (NASDAQ:CSX) by 84.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,341 shares of the transportation company’s stock after selling 77,752 shares during the quarter. CX Institutional’s holdings in CSX were worth $495,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Western Wealth Management LLC grew its stake in CSX by 0.8% during the second quarter. Western Wealth Management LLC now owns 36,127 shares of the transportation company’s stock worth $1,208,000 after buying an additional 295 shares during the period. TriaGen Wealth Management LLC lifted its stake in shares of CSX by 2.7% during the second quarter. TriaGen Wealth Management LLC now owns 11,524 shares of the transportation company’s stock worth $385,000 after purchasing an additional 300 shares in the last quarter. Miracle Mile Advisors LLC boosted its position in shares of CSX by 0.3% in the first quarter. Miracle Mile Advisors LLC now owns 103,563 shares of the transportation company’s stock worth $3,839,000 after buying an additional 303 shares during the period. Team Hewins LLC grew its stake in shares of CSX by 1.7% in the first quarter. Team Hewins LLC now owns 18,778 shares of the transportation company’s stock valued at $696,000 after buying an additional 306 shares in the last quarter. Finally, Zions Bancorporation N.A. raised its holdings in shares of CSX by 4.8% during the 2nd quarter. Zions Bancorporation N.A. now owns 6,985 shares of the transportation company’s stock valued at $234,000 after buying an additional 322 shares during the period. Institutional investors and hedge funds own 73.57% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on CSX. BMO Capital Markets decreased their price target on CSX from $40.00 to $39.00 and set an “outperform” rating for the company in a report on Thursday. Evercore ISI cut their price target on CSX from $38.00 to $37.00 and set an “outperform” rating on the stock in a research note on Thursday. Royal Bank of Canada reduced their target price on CSX from $36.00 to $35.00 and set a “sector perform” rating for the company in a research note on Thursday. Sanford C. Bernstein lifted their price target on shares of CSX from $35.00 to $36.00 and gave the stock a “market perform” rating in a research note on Monday, July 8th. Finally, Barclays decreased their price objective on shares of CSX from $41.00 to $40.00 and set an “overweight” rating for the company in a report on Wednesday, September 25th. Seven research 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 company presently has a consensus rating of “Moderate Buy” and an average target price of $38.61.

CSX Stock Down 6.7 %

Shares of CSX stock opened at $33.09 on Friday. The stock has a market capitalization of $64.69 billion, a price-to-earnings ratio of 18.18, a PEG ratio of 1.90 and a beta of 1.19. 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 business’s 50 day simple moving average is $34.02 and its 200-day simple moving average is $33.99.

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 the consensus estimate of $0.48 by ($0.02). CSX had a return on equity of 29.11% and a net margin of 24.52%. The company had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.68 billion. During the same period in the prior year, the business earned $0.42 earnings per share. CSX’s quarterly revenue was up 1.3% on a year-over-year basis. Equities research analysts forecast that CSX Co. will post 1.93 earnings per share for the current year.

CSX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.45%. The ex-dividend date is Friday, November 29th. CSX’s dividend payout ratio (DPR) is 26.37%.

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.