abrdn plc Has $32.87 Million Stake in CSX Co. (NASDAQ:CSX)

abrdn plc lowered its stake in CSX Co. (NASDAQ:CSX) by 3.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 953,020 shares of the transportation company’s stock after selling 34,875 shares during the period. abrdn plc’s holdings in CSX were worth $32,874,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Itau Unibanco Holding S.A. acquired a new position in CSX in the 2nd quarter valued at $26,000. MFA Wealth Advisors LLC bought a new stake in CSX during the second quarter valued at about $27,000. Fairscale Capital LLC acquired a new stake in shares of CSX in the second quarter valued at about $32,000. Morton Brown Family Wealth LLC bought a new position in shares of CSX in the third quarter worth about $31,000. Finally, TFC Financial Management Inc. lifted its position in shares of CSX by 72.4% during the 2nd quarter. TFC Financial Management Inc. now owns 1,048 shares of the transportation company’s stock worth $35,000 after purchasing an additional 440 shares during the last quarter. Institutional investors own 73.57% of the company’s stock.

Analysts Set New Price Targets

CSX has been the topic of several recent analyst reports. Royal Bank of Canada dropped their price target on CSX from $36.00 to $35.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 17th. Loop Capital cut their target price on shares of CSX from $43.00 to $42.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. TD Cowen reduced their price target on shares of CSX from $36.00 to $35.00 and set a “hold” rating for the company in a report on Thursday, October 17th. Sanford C. Bernstein boosted their price objective on shares of CSX from $35.00 to $36.00 and gave the stock a “market perform” rating in a report on Monday, July 8th. Finally, Stephens reduced their target price on shares of CSX from $41.00 to $39.00 and set an “overweight” rating for the company in a research note on Thursday, October 17th. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $38.61.

CSX Stock Up 0.9 %

CSX opened at $33.54 on Thursday. The firm has a market cap of $65.57 billion, a price-to-earnings ratio of 18.43, a PEG ratio of 1.90 and a beta of 1.19. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.01 and a current ratio of 1.16. The firm’s 50-day simple moving average is $34.01 and its 200-day simple moving average is $33.81. CSX Co. has a twelve month low of $29.28 and a twelve month high of $40.12.

CSX (NASDAQ:CSX) last issued its quarterly earnings data 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). The firm 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%. CSX’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.42 earnings per share. Equities research analysts anticipate 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. Shareholders of record on Friday, November 29th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend is Friday, November 29th. CSX’s dividend payout ratio is currently 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.