Salomon & Ludwin LLC Sells 3,750 Shares of CSX Co. (NASDAQ:CSX)

Salomon & Ludwin LLC lessened its position in CSX Co. (NASDAQ:CSX) by 76.9% during the third quarter, Holdings Channel reports. The fund owned 1,125 shares of the transportation company’s stock after selling 3,750 shares during the period. Salomon & Ludwin LLC’s holdings in CSX were worth $39,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Itau Unibanco Holding S.A. purchased a new position in shares of CSX in the 2nd quarter worth about $26,000. MFA Wealth Advisors LLC purchased a new stake in shares of CSX in the 2nd quarter valued at $27,000. Fairscale Capital LLC bought a new position in shares of CSX during the 2nd quarter valued at $32,000. Strategic Financial Concepts LLC bought a new position in shares of CSX in the second quarter worth approximately $33,000. Finally, TFC Financial Management Inc. raised its stake in shares of CSX by 72.4% during the second quarter. TFC Financial Management Inc. now owns 1,048 shares of the transportation company’s stock valued at $35,000 after acquiring an additional 440 shares during the last quarter. Institutional investors own 73.57% of the company’s stock.

CSX Price Performance

Shares of CSX stock opened at $33.26 on Tuesday. The stock has a market capitalization of $65.02 billion, a price-to-earnings ratio of 18.27, a P/E/G ratio of 1.90 and a beta of 1.19. The company has a current ratio of 1.16, a quick ratio of 1.01 and a debt-to-equity ratio of 1.42. CSX Co. has a twelve month low of $29.26 and a twelve month high of $40.12. The stock has a fifty day simple moving average of $34.02 and a two-hundred day simple moving average of $33.83.

CSX (NASDAQ:CSX) last issued its earnings results on Wednesday, October 16th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.02). The business had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.68 billion. CSX had a return on equity of 29.11% and a net margin of 24.52%. The firm’s revenue was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.42 earnings per share. On average, analysts predict that CSX Co. will post 1.93 EPS for the current fiscal year.

CSX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.44%. The ex-dividend date is Friday, November 29th. CSX’s payout ratio is 26.37%.

Analysts Set New Price Targets

Several equities analysts have commented on CSX shares. Wells Fargo & Company lowered their price objective on CSX from $35.00 to $34.00 and set an “equal weight” rating for the company in a research report on Thursday, October 17th. Citigroup assumed coverage on CSX in a research report on Wednesday, October 9th. They set a “buy” rating and a $42.00 price objective on the stock. TD Cowen lowered their price objective on CSX from $36.00 to $35.00 and set a “hold” rating on the stock in a research report on Thursday, October 17th. Royal Bank of Canada cut their target price on CSX from $36.00 to $35.00 and set a “sector perform” rating for the company in a research report on Thursday, October 17th. Finally, Stifel Nicolaus lowered their price target on CSX from $39.00 to $37.00 and set a “buy” rating on the stock in a report on Thursday, October 17th. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $38.61.

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.