Raleigh Capital Management Inc. Has $412,000 Position in CSX Co. (NASDAQ:CSX)

Raleigh Capital Management Inc. lessened its position in CSX Co. (NASDAQ:CSX) by 9.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,940 shares of the transportation company’s stock after selling 1,319 shares during the period. Raleigh Capital Management Inc.’s holdings in CSX were worth $412,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of CSX. Interval Partners LP increased its holdings in CSX by 849.0% in the 2nd quarter. Interval Partners LP now owns 5,118,751 shares of the transportation company’s stock worth $171,222,000 after purchasing an additional 4,579,344 shares in the last quarter. Manning & Napier Advisors LLC acquired a new stake in shares of CSX in the second quarter valued at about $116,430,000. M&G Plc acquired a new stake in shares of CSX in the first quarter valued at about $126,089,000. Wulff Hansen & CO. increased its stake in shares of 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 buying an additional 2,126,668 shares during the period. Finally, Bank of Montreal Can increased 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 valued at $225,917,000 after buying an additional 1,884,998 shares during the period. Institutional investors and hedge funds own 73.57% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CSX shares. Stifel Nicolaus decreased their price target on CSX from $39.00 to $37.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. 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 research note on Thursday, October 17th. TD Cowen decreased their price target on CSX from $36.00 to $35.00 and set a “hold” rating for the company in a research note on Thursday, October 17th. JPMorgan Chase & Co. upped their target price on CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a research report on Tuesday, August 6th. Finally, Loop Capital cut 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. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $38.61.

CSX Stock Up 0.6 %

Shares of NASDAQ:CSX opened at $33.85 on Wednesday. The firm has a market cap of $66.17 billion, a P/E ratio of 18.60, a PEG ratio of 1.90 and a beta of 1.19. CSX Co. has a 52-week low of $29.03 and a 52-week high of $40.12. The business’s 50 day simple moving average is $34.04 and its two-hundred day simple moving average is $33.90. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.01 and a current ratio of 1.16.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Wednesday, October 16th. The transportation company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.02). The company had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.68 billion. CSX had a return on equity of 29.11% and a net margin of 24.52%. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period last year, the company earned $0.42 earnings per share. As a group, research analysts forecast that CSX Co. will post 1.93 EPS for the current fiscal year.

CSX Dividend Announcement

The business also recently disclosed 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 annualized dividend and a dividend yield of 1.42%. The ex-dividend date is Friday, November 29th. CSX’s dividend payout ratio (DPR) is presently 26.37%.

CSX Company 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.